Revised Code of Washington - RCW Title 48 Insurance - Chapter 48.09 Mutual Insurers

48.09.010 Initial qualifications
(1) The commissioner shall not issue a certificate of authority to a domestic mutual insurer unless it has fully qualified therefor under this code, and ...

48.09.090 Additional kinds of insurance
A domestic mutual insurer may be authorized to transact kinds of insurance in addition to that for which it was originally authorized, if it has ...

48.09.100 Minimum surplus
A domestic mutual insurer on the cash premium plan shall at all times have and maintain surplus funds, representing the excess of its assets over ...

48.09.110 Membership
(1) Each holder of one or more insurance contracts issued by a domestic mutual insurer, other than a contract of reinsurance, is a member of ...

48.09.120 Rights of members
(1) A domestic mutual insurer is owned by and shall be operated in the interest of its members. (2) Each member is entitled to one ...

48.09.130 Bylaws
A domestic mutual insurer shall adopt bylaws for the conduct of its affairs. Such bylaws, or any modification thereof, shall forthwith be filed with the ...

48.09.140 Notice of annual meeting
(1) Notice of the time and place of the annual meeting of members of a domestic mutual insurer shall be given by imprinting such notice ...

48.09.150 Voting -- Proxies
(1) A member of a domestic mutual insurer may vote in person or by proxy given another member on any matter coming before a corporate ...

48.09.160 Directors -- Disqualification
No individual shall be a director of a domestic mutual insurer by reason of his holding public office. Adjudication as a bankrupt or taking the ...

48.09.180 Limitation of expenses as to property and casualty insurance
(1) For any calendar year after its first two full calendar years of operation, no domestic mutual insurer on the cash premium plan, other than ...

48.09.190 Procedure upon violation of limitation
The officers and directors of an insurer violating RCW 48.09.180 shall be jointly and severally liable to the insurer for any excess of expenses incurred. ...

48.09.210 Limitation of action on officer's salary
No action to recover, or on account of, any salary or other compensation due or claimed to be due any officer or director of a ...

48.09.220 Contingent liability of members
(1) Each member of a domestic mutual insurer, except as otherwise provided in this chapter, shall have a contingent liability, pro rata and not one ...

48.09.230 Assessment of members
(1) If at any time the assets of a domestic mutual insurer doing business on the cash premium plan are less than its liabilities and ...

48.09.235 Issuing a capital call -- Notice -- Insurer's duties -- Rules
(1) In addition to authority granted by RCW 48.09.220 and 48.09.230, a domestic mutual insurer meeting all the requirements of this section may increase its ...

48.09.240 Contingent liability of members of assessment insurer
The contingent liability of members of a domestic mutual insurer doing business on the assessment premium plan shall be called upon and enforced by its ...

48.09.250 Contingent liability as asset
Any contingent liability of members of a domestic mutual insurer to assessment does not constitute an asset of the insurer in any determination of its ...

48.09.260 Liability as lien on policy reserves
As to life insurance, any portion of an assessment of contingent liability upon a policyholder which remains unpaid following notice of such assessment, demand for ...

48.09.270 Nonassessable policies
(1) A domestic mutual insurer on the cash premium plan, after it has established a surplus not less in amount than the minimum capital funds ...

48.09.280 Qualification on issuance of nonassessable policies
The commissioner shall not authorize a domestic mutual insurer so to extinguish the contingent liability of any of its members or in any of its ...

48.09.290 Revocation of right to issue nonassessable policies
(1) The commissioner shall revoke the authority of a domestic mutual insurer so to extinguish the contingent liability of its members if (a) at any ...

48.09.300 Dividends
(1) The directors of a domestic mutual insurer on the cash premium plan may from time to time apportion and pay to its members as ...

48.09.310 Nonparticipating policies
(1) If its articles of incorporation so provide, a domestic mutual insurer on the cash premium plan may, while it is authorized to issue policies ...

48.09.320 Borrowed capital
(1) A domestic mutual insurer may, with the commissioner's advance approval and without the pledge of any of its assets, borrow money to defray the ...

48.09.330 Repayment of borrowed capital
(1) The insurer may repay any loan received pursuant to RCW 48.09.320, or any part thereof as approved by the commissioner, only out of its ...

48.09.340 Impairment of surplus
(1) If the assets of a domestic mutual insurer on the cash premium plan fall below the amount of its liabilities, plus the amount of ...

48.09.350 Reorganization of mutual as stock insurer -- Reinsurance -- Approval
(1) Upon satisfaction of the requirements applicable to the formation of a domestic stock insurer, a domestic mutual insurer may be reorganized as a stock ...

48.09.360 Distribution of assets and ownership equities upon liquidation
(1) Upon the liquidation of a domestic mutual insurer, its assets remaining after discharge of its indebtedness and policy obligations shall be distributed to its ...