Revised Code of Washington - RCW Title 48 Insurance - Section 48.05.370 Fiduciary relationship to insurer of officers, directors or corporation holding controlling interest

§ 48.05.370. Fiduciary relationship to insurer of officers, directors or corporation holding controlling interest

Officers and directors of an insurer or a corporation holding a controlling interest in an insurer shall be deemed to stand in a fiduciary relation to the insurer, and shall discharge the duties of their respective positions in good faith, and with that diligence, care and skill which ordinary prudent men would exercise under similar circumstances in like positions.

[1969 ex.s. c 241 § 1.]

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Last modified: April 7, 2009