Title 48, INSURANCE

(1) There is created a nonprofit unincorporated legal entity to be known as the Washington life and disability insurance guaranty association which is composed of the commissioner ex officio and each member insurer. All member insurers must be and remain members of the associatio…

(1) The board of directors of the association consists of the commissioner ex officio and not less than seven nor more than 11 member insurers serving terms as established in the plan of operation. The insurer members of the board are selected by member insurers subject to the ap…

(1) If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer and that are approved by the commissioner: (a) Guarantee, assume…

(1) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments are due no…

(1)(a) The association shall submit to the commissioner a plan of operation and any amendments necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments are effective upon the commissioner's wri…

(1) In addition to the duties and powers enumerated elsewhere in this chapter, the commissioner shall: (a) Upon request of the board of directors, provide the association with a statement of the premiums in this and other appropriate states for each member insurer; (b) When an im…

The commissioner shall aid in the detection and prevention of member insurer insolvencies or impairments. (1) It is the duty of the commissioner to: (a) Notify the commissioners of all the other states, territories of the United States, and the District of Columbia within thirty …

(1) A member insurer may offset against its premium tax liability to this state an assessment described in RCW 48.32A.085(8) to the extent of twenty percent of the amount of the assessment for each of the five calendar years following the year in which the assessment was paid. In…

(1) This chapter does not reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability. (2) Records must be kept of all meetings of the board of directors to discuss the activities of the associat…

The association is subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner each year, not later than one hundred eighty days after the association's fiscal year, a financial report in a form approved by the commissioner a…

The association is exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property. [ 2001 c 50 s 16.]

There is no liability on the part of and no cause of action of any nature may arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or the commissioner's representatives, for…

All proceedings in which the insolvent insurer is a party in any court in this state are stayed one hundred eighty days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters germane to its p…

(1) No person, including a member insurer, agent, or affiliate of a member insurer may make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in any newspape…

(1) This chapter does not apply to any impaired insurer that was under an order of rehabilitation or conservation, or to any insolvent insurer that was placed under an order of liquidation, prior to July 22, 2001. (2) Any section repealed in this act pertaining to the powers and …