§ 48.13.218. Limitation on insurer loans or investments
(1) Notwithstanding RCW 48.13.220 and 48.13.240, an insurer may not loan or invest its funds in common stock, preferred stock, debt obligations, and other securities of one or more subsidiaries in an aggregate amount exceeding the lesser of the following sums: Ten percent of its assets, or fifty percent of its surplus as regards policyholders. In calculating the amount of investments under this section, investments in domestic or foreign subsidiary insurers, health care service contractors, and health maintenance organizations are excluded.
(2) For the purposes of this section, "subsidiary" has the same meaning as in RCW 48.31B.005.
[2001 c 90 § 1.]
Sections: Previous 48.13.150 48.13.160 48.13.170 48.13.180 48.13.190 48.13.200 48.13.210 48.13.218 48.13.220 48.13.230 48.13.240 48.13.250 48.13.260 48.13.265 48.13.270 NextLast modified: April 7, 2009