Title 48 — Title 48 INSURANCE
101 chapters · 2,134 sections in this title.
RCW 48.18A.010 Short title—Intent.
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This chapter shall be known as the "Variable Contract Act" and is intended to authorize the sale of both individual and group variable contracts.[ 1969 c 104 s 1.]
RCW 48.18A.020 Separate accounts authorized—Allocations—Benefits—Limitations—Valuation—Sale, transfer, or exchange of assets.
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A domestic life insurer may, by or pursuant to resolution of its board of directors, establish one or more separate accounts, and may allocate thereto amounts (including without limitation proceeds applied under optional modes of settlement or under dividend options) to provide f…
RCW 48.18A.030 Statements required in contracts—Payment on death, incidental benefit provision.
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(1) Every variable contract providing benefits payable in variable amounts delivered or issued for delivery in this state shall contain a statement of the essential features of the procedures to be followed by the insurer in determining the dollar amount of such variable benefits…
RCW 48.18A.035 Return of policy and refund of premium—Notice required—Effect of return.
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Every individual variable contract issued shall have printed on its face or attached thereto a notice stating in substance that the policy owner shall be permitted to return the policy within ten days after it is received by the policy owner and to have the market value of the as…
RCW 48.18A.040 Requirements for operation under this chapter—Considerations—Authorization of subsidiary or affiliate—Exceptions.
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No insurer shall deliver or issue, for delivery within this state, contracts under this chapter unless it is licensed or organized to do a life insurance or annuity business in this state, and unless the commissioner is satisfied that its condition or method of operation in conne…
RCW 48.18A.050 Applicability of other code provisions—Contract requirements.
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The provisions of RCW 48.23.020, 48.23.030, 48.23.080 through 48.23.120, 48.23.140, 48.23.150, 48.23.200 through 48.23.240, 48.23.310, and 48.23.360, and the provisions of chapters 48.24 and 48.76 RCW are inapplicable to variable contracts. Any provision in the code requiring con…
RCW 48.18A.060 Licensing requirement.
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No person shall be or act as an insurance producer for the solicitation or sale of variable contracts except while duly appointed and licensed under the insurance code as a variable life and variable annuity products insurance producer with respect to the insurer, and while duly …
RCW 48.18A.070 Authority of commissioner.
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Notwithstanding any other provision of law, the commissioner shall have sole and exclusive authority to regulate the issuance and sale of variable contracts; except for the examination, issuance or renewal, suspension or revocation, of a security salesperson's license issued to p…
RCW 48.18A.900 Effective date—1969 c 104.
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This 1969 act shall take effect July 1, 1969.[ 1969 c 104 s 10.]