reglab/housing_qa huggingface dataset:
WA Rev Code § 48.102.070 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.070 - Advertising.

RCW 48.102.070 Advertising.(1) A broker, or provider licensed pursuant to this chapter, may conduct or participate in advertisements within this state. These advertisements shall comply with all advertising and marketing laws or rules adopted by the commissioner that are applicable to life insurers or to brokers, and providers licensed pursuant to this chapter.(2) Advertisements shall be accurate, truthful, and not misleading in fact or by implication.(3) A person or trust shall not:(a) Directly or indirectly, market, advertise, solicit, or otherwise promote the purchase of a policy, not previously issued, for the sole purpose of, or with the primary emphasis on, settling the policy; or(b) Use the words "free," "no cost," or words of similar import in the marketing, advertising, soliciting or otherwise promoting of the purchase of a policy.[ 2009 c 104 § 10.]
WA Rev Code § 48.102.090 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.090 - Disclosure by insurer.

RCW 48.102.090 Disclosure by insurer.In addition to other questions an insurance carrier may lawfully pose to a life insurance applicant, insurance carriers may inquire in the application for insurance whether the proposed owner intends to pay premiums with the assistance of financing from a lender that will use the policy as collateral to support the financing.(1) If, as described in RCW 48.102.006, the loan provides funds which can be used for a purpose other than paying for the premiums, costs, and expenses associated with obtaining and maintaining the life insurance policy and loan, the application shall be rejected as a violation of the prohibited practices in RCW 48.102.130.(2) If the financing does not violate RCW 48.102.130 in this manner, the insurance carrier:(a) May make disclosures, including but not limited to the applicant and the insured, either on the application or an amendment to the application to be completed no later than the delivery of the policy:"If you have entered into a loan arrangement where the policy is used as collateral, and the policy does change ownership at some point in the future in satisfaction of the loan, the following may be true:(i) A change of ownership could lead to a stranger owning an interest in the insured's life;(ii) A change of ownership could in the future limit your ability to purchase future insurance on the insured's life because there is a limit to how much coverage insurers will issue on one life;(iii) Should there be a change of ownership and you wish to obtain more insurance coverage on the insured's life in the future, the insured's higher issue age, a change in health status, and/or other factors may reduce the ability to obtain coverage and/or may result in significantly higher premiums;(iv) You should consult a professional advisor, since a change in ownership in satisfaction of the loan may result in tax consequences to the owner, depending on the structure of the loan"; and(b) May require certifications, such as the following, from the applicant and/or the insured:"(i) I have not entered into any agreement or arrangement providing for the future sale of this life insurance policy;(ii) My loan arrangement for this policy provides funds sufficient to pay for some or all of the premiums, costs, and expenses associated with obtaining and maintaining my life insurance policy, but I have not entered into any agreement by which I am to receive consideration in exchange for procuring this policy; and(iii) The borrower has an insurable interest in the insured."[ 2009 c 104 § 12.]
WA Rev Code § 48.102.100 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.100 - Notice to insured of alternative transactions—Document approved by commissioner.

RCW 48.102.100 Notice to insured of alternative transactions—Document approved by commissioner.(1) With respect to each policy issued by an insurance company, the insurance company shall notify the owner of an individual life insurance policy when the insured person under such a policy is age sixty or older, or is known to be terminally ill or chronically ill, that there may be alternative transactions available to that owner at the time of each of the following:(a) When a life insurance company receives from such an owner a request to surrender, in whole or in part, an individual policy;(b) When a life insurance company receives from such an owner a request to receive an accelerated death benefit under an individual policy;(c) When a life insurance company sends to such an owner all notices of lapse of an individual policy; or(d) At any other time that the commissioner may require by rule.(2)(a) The commissioner shall approve a document calculated to appraise the consumer of his or her rights as an owner of a life insurance policy. The document shall be made available at no cost to all insurance companies and life insurance producers and written in lay terms.(b) The document shall advise the consumer:(i) That life insurance is a critical part of a broader financial plan, and that the consumer is encouraged, and has a right, to seek additional financial advice and opinions;(ii) That possible alternatives to lapse exist; and(iii) Of the definitions of common industry terms.(c) In addition to the information described in (a) and (b) of this subsection, the document must contain the following statement in large, bold, or otherwise conspicuous typeface calculated to draw the eye: "Life insurance is a critical part of a broader financial plan. There are many options available, and you have the right to shop around and seek advice from different financial advisers in order to find the option best suited to your needs."(d) The document may include brief descriptions of common products available from providers. These products must be discussed in general terms for informative purposes only, and not identifiable to any specific provider.(e) The document will be considered part of the notice required in subsection (1) of this section.[ 2009 c 104 § 13.]
WA Rev Code § 48.102.120 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.120 - Conflict of laws.

RCW 48.102.120 Conflict of laws.(1) If there is more than one owner on a single policy, and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one owner agreed upon in writing by all of the owners. The law of the state of the insured shall govern in the event that equal owners fail to agree in writing upon a state of residence for jurisdictional purposes.(2) A provider from this state who enters into a life settlement contract with an owner who is a resident of another state that has enacted statutes or adopted regulations governing life settlement contracts, shall be governed in the effectuation of that life settlement contract by the statutes and regulations of the owner's state of residence. If the state in which the owner is a resident has not enacted statutes or regulations governing life settlement contracts, the provider shall give the owner notice that neither state regulates the transaction upon which he or she is entering. For transactions in those states, however, the provider is to maintain all records required if the transactions were executed in the state of residence. The forms used in those states need not be approved by the commissioner.(3) If there is a conflict in the laws that apply to an owner and a purchaser in any individual transaction, the laws of the state that apply to the owner shall take precedence and the provider shall comply with those laws.[ 2009 c 104 § 15.]
WA Rev Code § 48.102.150 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.150 - Enforcement.

RCW 48.102.150 Enforcement.(1) The commissioner may conduct investigations to determine whether any person has violated any provision of this chapter.(2) If the commissioner has cause to believe that any person is violating or is about to violate any provision of this title or any regulation or order of the commissioner, the commissioner may:(a) Issue a cease and desist order; and/or(b) Bring an action in any court of competent jurisdiction to enjoin the person from continuing the violation or doing any action in furtherance thereof.[ 2009 c 104 § 18.]
WA Rev Code § 48.102.160 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.160 - Penalties.

RCW 48.102.160 Penalties.(1) For the purpose of this section, an act is committed in this state if it is committed, in whole or in part, in the state of Washington, or affects persons or property within this state and relates to or involves a life settlement contract.(2) It is a violation of this chapter for any person, provider, broker, or any other party related to the business of life settlements, to commit a fraudulent life settlement act.(3) For criminal liability purposes, a person that knowingly commits a fraudulent life settlement act is guilty of a class B felony punishable under chapter 9A.20 RCW.(4) Any person who knowingly acts as a life settlement provider without being licensed by the commissioner is guilty of a class B felony punishable under chapter 9A.20 RCW.(5) Any person who knowingly acts as a life settlement broker without the proper authorization under this chapter is guilty of a class B felony punishable under chapter 9A.20 RCW.(6) Any criminal penalty imposed under this section is in addition to, and not in lieu of, any other civil or administrative penalty or sanction otherwise authorized under state law.(7) If the commissioner has cause to believe that any person has:(a) Knowingly acted as a life settlement provider without being licensed by the commissioner; or(b) Knowingly acted as a life settlement broker without the proper authorization under RCW 48.102.021;the commissioner may assess a civil penalty of not more than twenty-five thousand dollars for each violation, after providing notice and an opportunity for a hearing in accordance with chapters 34.05 and 48.04 RCW.(8) Upon failure to pay a civil penalty when due, the attorney general may bring a civil action on behalf of the commissioner to recover the unpaid penalty. Any amounts collected by the commissioner must be paid to the state treasurer for the account of the general fund.[ 2009 c 104 § 19.]
WA Rev Code § 48.102.170 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.170 - Authority to adopt rules.

RCW 48.102.170 Authority to adopt rules.The commissioner may adopt rules implementing and administering this chapter including, but not limited to:(1) Establishing standards for evaluating reasonableness of payments under life settlement contracts for persons who are terminally ill or chronically ill including, but not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person that is chronically or terminally ill;(2) Requiring a bond or other mechanism for financial accountability for life settlement providers; and(3) Governing the activities, relationships, and responsibilities of providers, brokers, insurers, and their agents.[ 2009 c 104 § 20.]
WA Rev Code § 48.102.180 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.180 - Unfair trade practices.

RCW 48.102.180 Unfair trade practices.The legislature finds that the practices covered by this chapter are matters vitally affecting the public interest for the purpose of applying the consumer protection act, chapter 19.86 RCW. A violation of this chapter is not reasonable in relation to the development and preservation of business and is an unfair or deceptive act in trade or commerce and an unfair method of competition for the purpose of applying the consumer protection act, chapter 19.86 RCW.[ 2009 c 104 § 21.]
WA Rev Code § 48.102.193 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.102 - Life Settlements Act.|48.102.193 - Existing rights or liabilities—July 26, 2009.

RCW 48.102.193 Existing rights or liabilities—July 26, 2009.Chapter 104, Laws of 2009 does not affect any existing right acquired or liability or obligation incurred under the sections repealed in chapter 104, Laws of 2009 or under any rule or order adopted under those sections, nor does it affect any proceeding instituted under those sections.[ 2009 c 104 § 26.]
WA Rev Code § 48.110.010 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.110 - Service Contracts and Protection Product Guarantees.|48.110.010 - Finding—Declaration—Purpose.

RCW 48.110.010 Finding—Declaration—Purpose.The legislature finds that increasing numbers of businesses are selling service contracts for repair, replacement, and maintenance of motor vehicles, appliances, computers, electronic equipment, and other consumer products. There are risks that contract obligors will close or otherwise be unable to fulfill their contract obligations that could result in unnecessary and preventable losses to citizens of this state. The legislature declares that it is necessary to establish standards that will safeguard the public from possible losses arising from the conduct or cessation of the business of service contract obligors or the mismanagement of funds paid for service contracts. The purpose of this chapter is to create a legal framework within which service contracts may be sold in this state and to set forth requirements for conducting a service contract business.[ 2006 c 274 § 1; 1999 c 112 § 1.]
WA Rev Code § 48.110.015 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.110 - Service Contracts and Protection Product Guarantees.|48.110.015 - Exempt from title—Application of chapter.

RCW 48.110.015 Exempt from title—Application of chapter.(1) The following are exempt from this title:(a) Warranties;(b) Maintenance agreements;(c) Service contracts:(i) Paid for with separate and additional consideration;(ii) Issued at the point of sale, or within sixty days of the original purchase date of the property; and(iii) On tangible property when the tangible property for which the service contract is sold has a purchase price of fifty dollars or less, exclusive of sales tax; and(d) Agreements whereby a third party contracted by an employer provides mileage reimbursement and incidental maintenance and repairs to the employer's employees for personal vehicles used for business purposes, provided that such agreement does not provide indemnification or repairs for a loss caused by theft, collision, fire, or other peril typically covered in the comprehensive section of an automobile insurance policy.(2) This chapter does not apply to:(a) Vehicle mechanical breakdown insurance;(b) Service contracts on tangible personal property purchased by persons who are not consumers; and(c) Home heating fuel service contracts offered by home heating energy providers.[ 2016 c 125 § 1. Prior: 2006 c 274 § 2; 2006 c 36 § 16; 2000 c 208 § 1; 1999 c 112 § 2.]
WA Rev Code § 48.110.017 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.110 - Service Contracts and Protection Product Guarantees.|48.110.017 - Application of chapter.

RCW 48.110.017 Application of chapter.This chapter does not prohibit a service contract provider from covering, in whole or in part, residential water, sewer, plumbing, electrical, heating and cooling systems, utilities, or similar systems, including items intended to be attached to or installed in any real property, with or without coverage of appliances, or from sharing contract revenue with local governments or other third parties for endorsements and marketing services.[ 2019 c 16 § 1; 2013 c 117 § 2.]
WA Rev Code § 48.110.033 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.110 - Service Contracts and Protection Product Guarantees.|48.110.033 - Application of RCW 48.110.030—Exceptions.

RCW 48.110.033 Application of RCW 48.110.030—Exceptions.(1) Except for service contract providers or protection product guarantee providers, persons marketing, selling, or offering to sell service contracts or protection products for providers are exempt from the registration requirements of RCW 48.110.030.(2) The marketing, sale, offering for sale, issuance, making, proposing to make, and administration of service contracts or protection products by service contract providers or protection product guarantee providers and related service contract or protection product sellers, administrators, and other persons complying with this chapter are exempt from the other provisions of this title, except chapters 48.04 and 48.30 RCW and as otherwise provided in this chapter.[ 2006 c 274 § 19.]
WA Rev Code § 48.110.040 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.110 - Service Contracts and Protection Product Guarantees.|48.110.040 - Filing of annual report—Fee—Investigations—Confidentiality.

RCW 48.110.040 Filing of annual report—Fee—Investigations—Confidentiality.(1)(a) Every registered service contract provider must file an annual report for the preceding calendar year with the commissioner on or before March 1st of each year, or within any extension of time the commissioner for good cause may grant. The report must be in the form and contain those matters as the commissioner prescribes and shall be verified by at least two officers of the service contract provider.(b)(i) A service contract provider relying on RCW 48.110.050(2)(a) or 48.110.075(2)(a) to assure the faithful performance of its obligations to service contract holders may not be required to submit audited financial statements of the service contract provider as part of its annual reports. If requested by the commissioner, a service contract provider relying on those provisions must provide a copy of the most recent annual financial statements of the service contract provider or its parent company certified as accurate by two officers of the service contract provider or its parent company.(ii) A service contract provider relying on its parent company's net worth to meet the requirements of RCW 48.110.050(2)(c) to assure the faithful performance of its obligations to service contract holders must submit as part of its annual report the most recent audited financial statements or form 10-K or form 20-F filed with the United States securities and exchange commission of the service contract provider's parent company if requested by the commissioner but need not submit its own audited financial statements.(2) At the time of filing the report, the service contract provider must pay a filing fee of twenty dollars which shall be deposited into the general fund.(3) As part of any investigation by the commissioner, the commissioner may require a service contract provider to file monthly financial reports whenever, in the commissioner's discretion, there is a need to more closely monitor the financial activities of the service contract provider. Monthly financial statements must be filed in the commissioner's office no later than the twenty-fifth day of the month following the month for which the financial report is being filed. These monthly financial reports are the internal financial statements of the service contract provider. The monthly financial reports that are filed with the commissioner constitute information that might be damaging to the service contract provider if made available to its competitors, and therefore shall be kept confidential by the commissioner. This information may not be made public or be subject to subpoena, other than by the commissioner and then only for the purpose of enforcement actions taken by the commissioner.[ 2016 c 224 § 2; 2006 c 274 § 5; 2005 c 223 § 34; 1999 c 112 § 5.]
WA Rev Code § 48.110.060 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.110 - Service Contracts and Protection Product Guarantees.|48.110.060 - Reimbursement insurance policies insuring service contracts or protection product guarantees.

RCW 48.110.060 Reimbursement insurance policies insuring service contracts or protection product guarantees.(1) Reimbursement insurance policies insuring service contracts or protection product guarantees issued, sold, or offered for sale in this state or issued or sold to consumers in this state shall state that the insurer that issued the reimbursement insurance policy shall reimburse or pay on behalf of the service contract provider or the protection product guarantee provider all sums the service contract provider or the protection product guarantee provider is legally obligated to pay, including but not limited to the refund of the full purchase price of the service contract to the service contract holder or shall provide the service which the service contract provider or the protection product guarantee provider is legally obligated to perform according to the service contract provider's or protection product guarantee provider's contractual obligations under the service contracts or protection product guarantees issued or sold by the service contract provider or the protection product guarantee provider.(2) The reimbursement insurance policy shall fully insure the obligations of the service contract provider or protection product guarantee provider, rather than partially insure, or insure only in the event of service contract provider or protection product guarantee provider default.(3) The reimbursement insurance policy shall state that the service contract holder or protection product guarantee holder is entitled to apply directly to the reimbursement insurance company for payment or performance due.[ 2006 c 274 § 7; 1999 c 112 § 7.]
WA Rev Code § 48.110.073 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.110 - Service Contracts and Protection Product Guarantees.|48.110.073 - Service contract forms—Motor vehicles—Reliance on reimbursement insurance policy.

RCW 48.110.073 Service contract forms—Motor vehicles—Reliance on reimbursement insurance policy.(1) If the service contract provider or protection product guarantee provider is using [the] reimbursement insurance policy to satisfy the requirements of RCW 48.110.050(2)(a), 48.110.055(2)(b), or 48.110.075(2)(a), then the reimbursement insurance policy shall be filed with and approved by the commissioner in accordance with and pursuant to the requirements of chapter 48.18 RCW.(2) All service contracts forms covering motor vehicles must be filed with and approved by the commissioner prior to the service contract forms being used, issued, delivered, sold, or marketed in this state or to residents of this state.(3) All service contracts forms covering motor vehicles being used, issued, delivered, sold, or marketed in this state or to residents of this state by motor vehicle manufacturers or import distributors or wholly owned subsidiaries thereof must be filed with the commissioner for approval within sixty days after the motor vehicle manufacturer or import distributor or wholly owned subsidiary thereof begins using the service contracts forms.(4) The commissioner shall disapprove any motor vehicle service contract form if:(a) The form is in any respect in violation of, or does not comply with, this chapter or any applicable order or regulation of the commissioner issued under this chapter;(b) The form contains or incorporates by reference any inconsistent, ambiguous, or misleading clauses, or exceptions and conditions;(c) The form has any title, heading, or other indication of its provisions that is misleading; or(d) The purchase of the contract is being solicited by deceptive advertising.[ 2006 c 274 § 20.]