§ 48.37.090. Market conduct oversight personnel
(1) Market conduct oversight personnel shall be qualified by education, experience, and, where applicable, professional designations. The commissioner may supplement the in-house market conduct oversight staff with qualified outside professional assistance if the commissioner determines that the assistance is necessary.
(2) Market conduct oversight personnel have a conflict of interest, either directly or indirectly, if they are affiliated with the management of, and have, within five years of any market conduct action, been employed by, or own a pecuniary interest in the insurer, subject to any examination under this chapter. This section shall not be construed to automatically preclude an individual from being:
(a) A policyholder or claimant under an insurance policy;
(b) A grantor of a mortgage or similar instrument on the individual's residence from a regulated entity, if done under customary terms and in the ordinary course of business;
(c) An investment owner in shares of regulated diversified investment companies; or
(d) A settlor or beneficiary of a "blind trust" into which any otherwise impermissible holdings have been placed.
[2007 c 82 § 11.]
Sections: Previous 48.37.010 48.37.020 48.37.030 48.37.040 48.37.050 48.37.060 48.37.070 48.37.080 48.37.090 48.37.100 48.37.110 48.37.120 48.37.130 48.37.140 48.37.900 NextLast modified: April 7, 2009