A Washington attorney brokers 4 loans in 2026 through a separate company that does not look like a law practice. Does operating through the separate non-law-practice company satisfy the attorney exemption?
Correct Answer
B) Not exempt: the work must be done under a publicly identified law practice
The attorney exemption has three conditions: the services must be performed by the attorney while engaged in the practice of law, under a business publicly identified and operated as a law practice, and all transaction funds received must be deposited in, kept in and disbursed from a trust account as the supreme court rules require. Other choices: being licensed is the starting point; the trust account is one condition of three; and no loan count is involved. Source: RCW 19.146.020(1)(c)
Why This Is the Correct Answer
The attorney exemption has three conditions: the services must be performed by the attorney while engaged in the practice of law, under a business publicly identified and operated as a law practice, and all transaction funds received must be deposited in, kept in and disbursed from a trust account as the supreme court rules require. Other choices: being licensed is the starting point; the trust account is one condition of three; and no loan count is involved. Source: RCW 19.146.020(1)(c)
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