Title 48 — Title 48 INSURANCE
101 chapters · 2,134 sections in this title.
RCW 48.31.165 Domiciliary receiver not appointed—Court order to liquidate—Notice—Domiciliary receiver appointed in other state.
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(1) If no domiciliary receiver has been appointed, the commissioner may apply to the court for an order directing him or her to liquidate the assets found in this state of a foreign insurer or an alien insurer not domiciled in this state, on any of the grounds stated in: RCW 48.3…
RCW 48.31.171 Domiciliary liquidator—Reciprocal state—Nonreciprocal state—Commissioner's duties.
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(1) Except as to special deposits and security on secured claims under RCW 48.99.030(2), the domiciliary liquidator of an insurer domiciled in a reciprocal state is vested by operation of law with the title to all of the assets, property, contracts, and rights of action, agents' …
RCW 48.31.175 Foreign or alien insurer—Property located in this state—Commissioner's discretion.
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The commissioner in his or her sole discretion may institute proceedings under RCW 48.31.121 at the request of the commissioner or other appropriate insurance official of the domiciliary state of a foreign or alien insurer having property located in this state.[ 1993 c 462 s 72.]…
RCW 48.31.181 Liquidation proceedings—One or more reciprocal states—Distributions—Special deposit claims—Secured claims.
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(1) In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state controls as to claims of residents of this and reciprocal states. Claims of residents of reciprocal states shall be given equal priority of pa…
RCW 48.31.184 Ancillary receiver in another state or foreign country—Failure to transfer assets.
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If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state assets within his or her control other than special deposits, diminished only by the expenses of the ancillary receivers…
RCW 48.31.185 Receiver's proposal to disperse assets upon liquidation—Application for approval—Contents of proposal—Notice of application.
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(1) Within one hundred twenty days of a final determination of insolvency of an insurer and order of liquidation by a court of competent jurisdiction of this state, the receiver shall make application to the court for approval of a proposal to disperse assets out of that insurer'…
RCW 48.31.190 Commencement of proceeding—Venue—Effect of appellate review.
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(1) Proceedings under this chapter involving a domestic insurer shall be commenced in the superior court for the county in which is located the insurer's home office or, at the election of the commissioner, in the superior court for Thurston county. Proceedings under this chapter…
RCW 48.31.200 Injunctions.
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(1) Upon application by the commissioner for such an order to show cause or at any time thereafter, the court may without notice issue an injunction restraining the insurer, its officers, directors, stockholders, members, subscribers, agents, and all other persons from the transa…
RCW 48.31.210 Change of venue.
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At any time after the commencement of a proceeding under this chapter the commissioner may apply to the court for an order changing the venue of, and removing the proceeding to Thurston county, or to any other county of this state in which he or she deems that such proceeding may…
RCW 48.31.220 Deposit of moneys collected.
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The moneys collected by the commissioner in a proceeding under this chapter, shall be, from time to time, deposited in one or more state or national banks, savings banks, or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such dep…
RCW 48.31.230 Exemption from filing fees.
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The commissioner shall not be required to pay any fee to any public officer in this state for filing, recording, issuing a transcript or certificate, or authenticating any paper or instrument pertaining to the exercise by the commissioner of any of the powers or duties conferred …
RCW 48.31.240 Borrowing on pledge of assets.
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For the purpose of facilitating the rehabilitation, liquidation, conservation or dissolution of an insurer pursuant to this chapter the commissioner may, subject to the approval of the court, borrow money and execute, acknowledge and deliver notes or other evidences of indebtedne…
RCW 48.31.260 Liquidation—Date rights, liabilities fixed.
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The rights and liabilities of the insurer and of its creditors, policyholders, stockholders, members, subscribers, and all other persons interested in its estate shall, unless otherwise directed by the court, be fixed as of the date on which the order directing the liquidation of…
RCW 48.31.270 Voidable transfers.
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(1) Any transfer of, or lien upon, the property of an insurer which is made or created within four months prior to the granting of an order to show cause under this chapter with the intent of giving to any creditor or of enabling him or her to obtain a greater percentage of his o…
RCW 48.31.280 Priority and order of distribution of claims.
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The priority of distribution of claims from the insurer's estate is as follows: Every claim in a class must be paid in full or adequate funds retained for payment before the members of the next class receive any payment; no subclasses may be established within a class; and no cla…
RCW 48.31.290 Offsets.
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(1) In all cases of mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this chapter, such credits and debts shall be set off and the balance only shall be allowed or paid, except as provided in subsection (2) of…
RCW 48.31.300 Allowance of contingent and other claims.
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(1) No contingent claim shall share in a distribution of the assets of an insurer which has been adjudicated to be insolvent by an order made pursuant to RCW 48.31.310, except that such claims shall be considered, if properly presented, and may be allowed to share where:(a) Such …
RCW 48.31.310 Time to file claims.
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(1) If upon the granting of an order of liquidation under this chapter or at any time thereafter during the liquidation proceeding, the insurer shall not be clearly solvent, the court shall after such notice and hearing as it deems proper, make an order declaring the insurer to b…
RCW 48.31.320 Report for assessment.
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Within three years from the date an order of rehabilitation or liquidation of a domestic mutual insurer or a domestic reciprocal insurer was filed in the office of the clerk of the court by which such order was made, the commissioner may make a report to the court setting forth(1…
RCW 48.31.330 Levy of assessment.
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(1) Upon the basis of the report provided for in RCW 48.31.320, including any amendments thereof, the court, ex parte, may levy one or more assessments against all members of such insurer who, as shown by the records of the insurer, were members (if a mutual insurer) or subscribe…
RCW 48.31.340 Order for payment of assessment.
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After levy of assessment as provided in RCW 48.31.330, upon the filing of a further detailed report by the commissioner, the court shall issue an order directing each member (if a mutual insurer) or each subscriber (if a reciprocal insurer) if he or she shall not pay the amount a…
RCW 48.31.350 Publication, transmittal of assessment order.
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The commissioner shall cause a notice of such assessment order setting forth a brief summary of the contents of such order to be:(1) Published in such manner as shall be directed by the court; and(2) Enclosed in a sealed envelope, addressed and mailed postage prepaid to each memb…
RCW 48.31.360 Judgment upon the assessment.
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(1) On the return day of the order to show cause provided for in RCW 48.31.340 if the member or subscriber does not appear and serve verified objections upon the commissioner, the court shall make an order adjudging that such member or subscriber is liable for the amount of the a…
RCW 48.31.400 Administrative supervision—Conditions—Notice and hearing.
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(1) An insurer may be subject to administrative supervision by the commissioner if upon examination or at any other time the commissioner makes a finding that:(a) The insurer's condition renders the continuance of its business financially hazardous to the public or to its insured…
RCW 48.31.405 Administrative supervision—Confidentiality.
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(1) Except as set forth in this section, proceedings, hearings, notices, correspondence, reports, records, and other information in the possession of the commissioner relating to the supervision of any insurer under this chapter are confidential and are not subject to chapter 42.…
RCW 48.31.410 Administrative supervision—Standards and procedures—Limitations on insurer.
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During the period of administrative supervision, the commissioner or the commissioner's designated appointee shall serve as the administrative supervisor. The commissioner shall establish standards and procedures that maintain reasonable and customary claims practices and otherwi…
RCW 48.31.415 Administrative supervision—Insurer may contest.
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During the period of administrative supervision the insurer may contest an action taken, proposed to be taken, or failed to be taken by the administrative supervisor specifying the manner wherein the action being complained of would not result in improving the condition of the in…
RCW 48.31.420 Administrative supervision—No limitation on judicial proceedings.
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RCW 48.31.020, 48.31.115, 48.31.400 through 48.31.415, 48.31.425, and 48.31.435 do not preclude the commissioner from initiating judicial proceedings to place an insurer in rehabilitation or liquidation proceedings or other delinquency proceedings, however designated under the la…
RCW 48.31.425 Administrative supervision—Commissioner contacts.
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The commissioner may meet with the administrative supervisor appointed under this chapter and with the attorney or other representative of the administrative supervisor, without the presence of any other person, at the time of any proceeding or during the pendency of any proceedi…
RCW 48.31.430 Administrative supervision—Chapters 48.04 and 34.05 RCW.
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An action or the failure to act by the commissioner is subject to chapters 48.04 and 34.05 RCW.[ 2005 c 432 s 9.]
RCW 48.31.435 Administrative supervision—Rules.
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The commissioner may adopt rules to implement and administer RCW 48.31.020, 48.31.115, and 48.31.400 through 48.31.425.[ 2005 c 432 s 10.]
RCW 48.31B.005 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Affiliate" means an affiliate of, or person affiliated with, a specific person, and includes a person that directly, or indirectly through one or more intermediaries, …
RCW 48.31B.010 Domestic insurer may acquire subsidiaries—Authorized investments—Insurer ceases to control subsidiary—Disposal of investment.
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(1) A domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries. The subsidiaries may conduct any kind of business or businesses and their authority to do so is not limited by reason of the fact that they are s…
RCW 48.31B.015 Control of insurer—Acquisition, merger, or exchange—Preacquisition notification—Divestment of controlling interest—Jurisdiction of courts.
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(1)(a) No person other than the issuer may make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities of, seek to acquire, or acquire, in the open market or otherwise, voting security of a domestic insurer if, after the c…
RCW 48.31B.020 Acquisition of insurer—Change in control—Definitions—Exemptions—Competition—Preacquisition notification—Violations—Penalties.
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(1) The following definitions apply for the purposes of this section only:(a) "Acquisition" means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes but is not limited …
RCW 48.31B.025 Registration with commissioner—Information required—Rule making—Disclaimer of affiliation—Filings.
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(1) Every insurer that is authorized to do business in this state and is a member of an insurance holding company system shall register with the commissioner, except a foreign insurer subject to registration requirements and standards adopted by statute or regulation in the juris…
RCW 48.31B.030 Insurer subject to registration—Standards for transactions within a holding company system—Extraordinary dividends or distributions—Insurer's surplus—Officers and directors.
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(1)(a) Transactions within an insurance holding company system to which an insurer subject to registration is a party are subject to the following standards:(i) The terms must be fair and reasonable;(ii) Agreements for cost-sharing services and management must include such provis…
RCW 48.31B.035 Examination of insurers—Commissioner may order production of information—Failure to comply—Costs of examination.
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(1) Subject to the limitation contained in this section and in addition to the powers that the commissioner has under chapter 48.03 RCW relating to the examination of insurers, the commissioner has the power to examine any insurer registered under RCW 48.31B.025 and its affiliate…
RCW 48.31B.036 Internationally active insurance groups—Group-wide supervision—Commissioner's authority and duties—Costs.
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(1) The commissioner is authorized to act as the group-wide supervisor for any internationally active insurance group under this section. However, the commissioner may otherwise acknowledge another regulatory official as the group-wide supervisor where the internationally active …
RCW 48.31B.037 Commissioner may participate in a supervisory college—Purposes—Costs.
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(1) With respect to any insurer registered under RCW 48.31B.025, and in accordance with subsection (3) of this section, the commissioner has the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with interna…
RCW 48.31B.038 Confidentiality of certain documents, materials, or other information—Permitted uses.
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(1) Documents, materials, or other information in the possession or control of the commissioner that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to RCW 48.31B.035 and all information reported …
RCW 48.31B.040 Rule making.
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The commissioner may, in accordance with the administrative procedure act, chapter 34.05 RCW, adopt rules interpreting and implementing this chapter.[ 2015 c 122 s 10; 1993 c 462 s 9.]Notes:Effective dates—2015 c 122: See note following RCW 48.31B.005.
RCW 48.31B.045 Violations of chapter—Commissioner may seek superior court order.
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(1) Whenever it appears to the commissioner that an insurer or a director, officer, employee, or agent of the insurer has committed or is about to commit a violation of this chapter or any rule or order of the commissioner under this chapter, the commissioner may apply to the sup…
RCW 48.31B.050 Violations of chapter—Fines—Civil forfeitures—Orders—Referral to prosecuting attorney—Imprisonment—Orders of supervision.
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(1) The commissioner shall require, after notice and hearing, an insurer failing, without just cause, to file a registration statement as required in this chapter, to pay a fine of not more than ten thousand dollars per day. The maximum fine under this section is one million doll…
RCW 48.31B.055 Violations of chapter—Impairment of financial condition—Commissioner may take possession.
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Whenever it appears to the commissioner that a person has committed a violation of this chapter that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, sha…
RCW 48.31B.060 Order for liquidation or rehabilitation—Recovery of distributions or payments—Personal liability—Maximum amount recoverable.
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(1) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order may recover on behalf of the insurer: (a) From a parent corporation or holding company or person or affiliate who otherwise controlled the insurer, the…
RCW 48.31B.065 Violations of chapter—Contrary to interests of policyholders or the public—Suspension, revocation, or nonrenewal of license.
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Whenever it appears to the commissioner that a person has committed a violation of this chapter that makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportunity to be heard, det…
RCW 48.31B.070 Person aggrieved by actions of commissioner.
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(1) A person aggrieved by an act, determination, rule, order, or any other action of the commissioner under this chapter may proceed in accordance with the administrative procedure act, chapter 34.05 RCW.(2) A person aggrieved by a failure of the commissioner to act or make a det…
RCW 48.31B.900 Short title.
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This chapter may be known and cited as the Insurer Holding Company Act.[ 1993 c 462 s 1.]
RCW 48.31B.901 Severability—1993 c 462.
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If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected.[ 1993 c 462 s 112.]