Revised Code of Washington - RCW Title 48 Insurance - Chapter 48.16 Deposits Of Insurers

  • 48.16.010 Deposits of insurers -- In general
    The commissioner shall accept deposits of securities or funds by insurers as follows: (1) Deposits in amount as required to be made as prerequisite to ...
  • 48.16.020 Deposits to be held in trust
    Each such deposit shall be held by the commissioner in trust for the protection of all policyholders in the United States of the insurer making ...
  • 48.16.030 Securities eligible for deposit
    All such deposits shall consist of cash funds or public obligations as specified in RCW 48.13.040; except, that with respect to deposits held on account ...
  • 48.16.050 Commissioner's receipt -- Records
    (1) The commissioner shall deliver to the insurer a receipt for all funds and securities so deposited by it. (2) The commissioner or the designated ...
  • 48.16.060 Transfer of securities
    (1) No transfer of any funds or security so held on deposit, whether voluntary or by operation of law, shall be valid unless approved in ...
  • 48.16.070 Depositaries -- Designation
    The commissioner may designate any solvent trust company or other solvent financial institution having trust powers as the commissioner's depositary to receive and hold any ...
  • 48.16.080 Liability for safekeeping
    The state of Washington shall be responsible for the safekeeping and return of all funds and securities deposited pursuant to this chapter with the commissioner ...
  • 48.16.090 Dividends and substitutions
    While solvent and complying with this code an insurer shall be entitled: (1) To collect and receive interest and dividends accruing on the securities so ...
  • 48.16.100 Release of deposits -- Generally
    (1) Any such required deposit shall be released in these instances only: (a) Upon extinguishment of all liabilities of the insurer for the security of ...
  • 48.16.110 Release of existing deposits
    Any part of any deposit of an insurer held by the commissioner which is in amount in excess of the deposit required or permitted to ...
  • 48.16.120 Voluntary excess deposits
    An insurer may deposit and maintain on deposit with the commissioner funds and eligible securities in amount exceeding its required deposit under this code by ...
  • 48.16.130 Immunity from levy
    No judgment creditor or other claimant of an insurer shall levy upon any deposit held pursuant to this chapter, or upon any part thereof.[1947 c ...

Last modified: April 7, 2009