Revised Code of Washington - RCW Title 48 Insurance - Chapter 48.06 Organization Of Domestic Insurers

48.06.010 Types of domestic insurers permitted
An insurer formed in this state shall be either (1) An incorporated stock insurer, or (2) An incorporated mutual insurer, or (3) An incorporated specific ...

48.06.020 Assessment mutuals prohibited -- Exceptions
No insurer shall be formed or be authorized in this state to issue contracts of insurance the performance of which is contingent upon the payment ...

48.06.030 Solicitation permit
(1) No person forming or proposing to form in this state an insurer, or insurance holding corporation, or stock corporation to finance an insurer or ...

48.06.040 Application for solicitation permit
To apply for a solicitation permit the person shall: (1) File with the commissioner a request showing: (a) Name, type, and purpose of insurer, corporation, ...

48.06.050 Procedure upon application
The commissioner shall expeditiously examine the application for a solicitation permit and make any investigation relative thereto deemed necessary. If the commissioner finds that (1) ...

48.06.060 Issuance of permit -- Bond
Upon the filing of the bond required by RCW 48.06.110 after notice by the commissioner, the commissioner shall: (1) File the articles of incorporation of ...

48.06.070 Duration of permit -- Contents
Every solicitation permit issued by the commissioner shall: (1) Be for a period of not over two years, subject to the right of the commissioner ...

48.06.080 Permit as inducement
The granting of a solicitation permit is permissive only and shall not constitute an endorsement by the commissioner of any person or thing related to ...

48.06.090 Solicitors' licenses
Solicitation for sale of securities to members of the public under a solicitation permit shall be made only by individuals licensed therefor pursuant to the ...

48.06.100 Modification, revocation of permit
(1) The commissioner may, for cause, modify a solicitation permit, or may, after a hearing, revoke any solicitation permit for violation of any provision of ...

48.06.110 Bond -- Cash deposit
(1) The commissioner shall not issue a solicitation permit until the person applying therefor files with him a corporate surety bond in the penalty of ...

48.06.120 Escrow of funds
(1) All funds received pursuant to a solicitation permit shall be deposited and held in escrow in a bank or trust company under an agreement ...

48.06.130 Liability of organizers -- Organization expense
(1) The incorporators of any insurer or other corporation, or the persons proposing to form a reciprocal insurer, or a syndicate, shall be jointly and ...

48.06.150 Payment for subscriptions -- Forfeiture
(1) No such proposed stock insurer, corporation, or syndicate shall issue any share of stock or participation agreement except for payment in cash or in ...

48.06.160 Insurance applications -- Mutual and reciprocal insurers
All applications for insurance obtained in forming a mutual or reciprocal insurer shall provide that: (1) Issuance of the policy is contingent upon completion of ...

48.06.170 Procedure on failure to complete organization or to qualify
The commissioner shall withdraw all funds held in escrow and refund to subscribers or applicants all sums paid in on stock or syndicate subscriptions, less ...

48.06.180 Subsequent financing
(1) No domestic insurer, or insurance holding corporation, or stock corporation for financing operations of a mutual insurer, or attorney-in-fact corporation of a reciprocal insurer, ...

48.06.190 Penalty for exhibiting false accounts, etc
Every person who, with intent to deceive, knowingly exhibits any false account, or document, or advertisement, relative to the affairs of any insurer, or of ...

48.06.200 Incorporation, articles of -- Contents
(1) This section applies to insurers incorporated in this state, but no insurer heretofore lawfully incorporated in this state is required to reincorporate or change ...