Washington State fines Apple $100K
Apple Computer Inc. has been fined $100,000 by the state of Washington for not registering with the state, as required by law.
According to Insurance Commissioner Mike Kreidler, Cupertino, Calif.-based Apple (NASDAQ: AAPL - News) didn't register as a service contract provider from 2000 to 2004. A 1999 Washington law required all companies selling service contracts to register with the Office of the Insurance Commissioner.
In a statement, Kreidler said his office hasn't received any complaints regarding Apple's contracts and the company is now registered.
Interesting ... I don't quite understand this racquet. If the contracts do not originate or are are not designated to be entered with a company that is located within the state of Washington ... then how or why does Apple have to pay this?