§ 48.32A.015. Purpose
(1) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in RCW 48.32A.025(1) against failure in the performance of contractual obligations, under life and disability insurance policies and annuity contracts specified in RCW 48.32A.025(2), because of the impairment or insolvency of the member insurer that issued the policies or contracts.
(2) To provide this protection, an association of insurers is created to pay benefits and to continue coverages as limited by this chapter, and members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.
[2001 c 50 § 2.]
Sections: Previous 48.32A.005 48.32A.015 48.32A.025 48.32A.035 48.32A.045 48.32A.055 48.32A.065 48.32A.075 48.32A.085 48.32A.095 48.32A.105 48.32A.115 48.32A.125 48.32A.135 48.32A.145 NextLast modified: April 7, 2009