Revised Code of Washington - RCW Title 48 Insurance - Chapter 48.10 Reciprocal Insurers

48.10.010 "Reciprocal insurance" defined
"Reciprocal insurance" is that resulting from an interexchange among persons, known as "subscribers," of reciprocal agreements of indemnity, the interexchange being effectuated through an "attorney-in-fact" ...

48.10.020 "Reciprocal insurer" defined
A "reciprocal insurer" means an unincorporated aggregation of subscribers operating individually and collectively through an attorney-in-fact to provide reciprocal insurance among themselves.[1947 c 79 § ...

48.10.030 Scope of chapter
All authorized reciprocal insurers shall be governed by those sections of this chapter not expressly made applicable to domestic reciprocal insurers.[1947 c 79 § .10.03; ...

48.10.050 Insuring powers of reciprocals
(1) A reciprocal insurer may, upon qualifying therefor as provided by this code, transact any kind or kinds of insurance defined by this code, other ...

48.10.055 Real property -- Attorney's duty
A reciprocal insurer may purchase, sell, mortgage, encumber, lease, or otherwise affect the title to real property for the purposes and objects of the reciprocal ...

48.10.060 Name -- Suits
A reciprocal insurer shall: (1) Have and use a business name. The name shall include the word "reciprocal," or "interinsurer," or "interinsurance," or "exchange," or ...

48.10.070 Surplus funds required
(1) A domestic reciprocal insurer hereafter formed, if it has otherwise complied with the provisions of this code, may be authorized to transact insurance if ...

48.10.080 Attorney
(1) "Attorney" as used in this chapter refers to the attorney-in-fact of a reciprocal insurer. The attorney may be an individual, firm, or corporation. (2) ...

48.10.090 Organization of reciprocal
(1) Twenty-five or more persons domiciled in this state may organize a domestic reciprocal insurer and in compliance with this code make application to the ...

48.10.100 Policies of original subscribers, effective when
Any policy applied for by an original subscriber shall become effective coincidentally with the issuance of a certificate of authority to the reciprocal insurer.[1947 c ...

48.10.110 Certificate of authority
(1) The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer. (2) The commissioner may ...

48.10.120 Power of attorney
(1) The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the ...

48.10.130 Modification of subscriber's agreement or power of attorney
Modification of the terms of the subscriber's agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the ...

48.10.140 Attorney's bond
(1) Concurrently with the filing of the declaration provided for in RCW 48.10.090, (or, if an existing domestic reciprocal insurer, within ninety days after the ...

48.10.150 Deposit in lieu of bond
In lieu of such bond, the attorney may maintain on deposit with the commissioner a like amount in cash or in value of securities qualified ...

48.10.160 Actions on bond
Action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought at any one time by one ...

48.10.170 Service of legal process
(1) A certificate of authority shall not be issued to a domestic reciprocal insurer unless prior thereto the attorney has executed and filed with the ...

48.10.180 Annual statement
The annual statement of a reciprocal insurer shall be made and filed by the attorney.[1947 c 79 § .10.18; Rem. Supp. 1947 § 45.10.18.] ...

48.10.190 Attorney's contribution -- Repayment
No contribution to a domestic reciprocal insurer's surplus by the attorney shall be retrievable by the attorney except under such terms and in such circumstances ...

48.10.200 Determination of financial condition
In determining the financial condition of a reciprocal insurer the commissioner shall apply the following rules: (1) He shall charge as liabilities the same reserves ...

48.10.220 Who may become subscriber
Any person, government or governmental agency, state or political subdivision thereof, public or private corporation, board, association, estate, trustee, or fiduciary may be a subscriber ...

48.10.230 Subscribers' advisory committee
(1) The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt. (2) Not ...

48.10.250 Assessment liability of subscriber
(1) The liability of each subscriber subject to assessment for the obligations of the reciprocal insurer shall not be joint, but shall be individual and ...

48.10.260 Action against subscriber requires judgment against insurer
(1) No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer ...

48.10.270 Assessments
(1) Assessments may be levied from time to time upon the subscribers of a domestic reciprocal insurer, other than as to nonassessable policies, by the ...

48.10.280 Time limit for assessment
Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for, and shall pay his share of any assessment, as computed and ...

48.10.290 Aggregate liability
No one policy or subscriber as to such policy, shall be assessed or be charged with an aggregate of contingent liability as to obligations incurred ...

48.10.300 Nonassessable policies
(1) Subject to the special surplus requirements of *RCW 48.05.360, if a reciprocal insurer has a surplus of assets over all liabilities at least equal ...

48.10.310 Return of savings to subscribers
A reciprocal insurer may from time to time return to its subscribers any savings or credits accruing to their accounts. Any such distribution shall not ...

48.10.320 Distribution of assets upon liquidation
Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contribution of ...

48.10.330 Merger -- Conversion to stock or mutual insurer
(1) A domestic reciprocal insurer, upon affirmative vote of not less than two-thirds of the subscribers who vote upon such merger pursuant to such notice ...

48.10.340 Impairment of assets -- Procedure
(1) If the assets of a domestic reciprocal insurer are at any time insufficient to discharge its liabilities other than any liability on account of ...