reglab/housing_qa huggingface dataset:
WA Rev Code § 48.09.240 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.240 - Contingent liability of members of assessment insurer.

RCW 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 directors as provided in its bylaws.[1947 c 79 § .09.24; Rem. Supp. 1947 § 45.09.24.]
WA Rev Code § 48.09.250 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.250 - Contingent liability as asset.

RCW 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 financial condition.[ 1949 c 190 § 11; 1947 c 79 § .09.25; Rem. Supp. 1949 § 45.09.25.]
WA Rev Code § 48.09.260 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.260 - Liability as lien on policy reserves.

RCW 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 payment, and lapse of a reasonable waiting period as specified in such notice, may, if approved by the commissioner, be secured by placing a lien on the reserves held by the insurer to the credit of such policyholder.[ 1949 c 190 § 12; 1947 c 79 § .09.26; Rem. Supp. 1949 § 45.09.26.]
WA Rev Code § 48.09.270 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.270 - Nonassessable policies.

RCW 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 required of a domestic stock insurer to transact like kinds of insurance, and for so long as it maintains such surplus, may extinguish the contingent liability of its members to assessment and omit provisions imposing contingent liability in all policies currently issued.(2) Any deposit made with the commissioner as a prerequisite to the insurer's certificate of authority may be included as part of the surplus required in this section.(3) When the surplus has been so established and the commissioner has so ascertained, he or she shall issue to the insurer, at its request, his or her certificate authorizing the extinguishment of the contingent liability of its members and the issuance of policies free therefrom.(4) While it maintains surplus funds in amount not less than the minimum capital required of a domestic stock insurer authorized to transact like kinds of insurance, and subject to the requirements of *RCW 48.05.360 as to special surplus, a foreign or alien mutual insurer on the cash premium plan may, if consistent with its charter and the laws of its domicile, issue nonassessable policies covering subjects located, resident, or to be performed in this state.[ 2009 c 549 § 7040; 1963 c 195 § 4; 1947 c 79 § .09.27; Rem. Supp. 1947 § 45.09.27.]NOTES:*Reviser's note: RCW 48.05.360 was repealed by 2005 c 223 § 35.
WA Rev Code § 48.09.280 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.280 - Qualification on issuance of nonassessable policies.

RCW 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 policies to be issued, unless it qualifies to and does extinguish such liability of all its members and in all such policies for all kinds of insurance transacted by it. Except, that if required by the laws of another state in which such an insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of such of its members as may acquire such policies in such state, and need not extinguish the contingent liability applicable to policies theretofore in force in such state.[1947 c 79 § .09.28; Rem. Supp. 1947 § 45.09.28.]
WA Rev Code § 48.09.290 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.290 - Revocation of right to issue nonassessable policies.

RCW 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 time the insurer's assets are less than the sum of its liabilities and the surplus required for such authority, or(b) the insurer, by resolution of its directors approved by its members, requests that the authority be revoked.(2) Upon revocation of such authority for any cause, the insurer shall not thereafter issue any policies without contingent liability, nor renew any policies then in force without written endorsement thereon providing for contingent liability.[1947 c 79 § .09.29; Rem. Supp. 1947 § 45.09.29.]
WA Rev Code § 48.09.300 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.300 - Dividends.

RCW 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 entitled thereto, dividends only out of that part of its surplus funds which are in excess of its required minimum surplus and which represent net realized savings and net realized earnings from its business.(2) Any classification of its participating policies and of risks assumed thereunder which the insurer may make shall be reasonable. No dividend shall be paid which is inequitable, or which unfairly discriminates as between such classifications or as between policies within the same classification.(3) No dividend, otherwise earned, shall be made contingent upon the payment of renewal premium on any policy.[1947 c 79 § .09.30; Rem. Supp. 1947 § 45.09.30.]
WA Rev Code § 48.09.310 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.310 - Nonparticipating policies.

RCW 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 without contingent liability to assessment, issue policies not entitled to participate in the insurer's savings and earnings.(2) Such insurer shall not issue in this state both participating and nonparticipating policies for the same class of risks; except, that both participating and nonparticipating life insurance policies may be issued if the right or absence of the right to participate is reasonably related to the premium charged.[1947 c 79 § .09.31; Rem. Supp. 1947 § 45.09.31.]
WA Rev Code § 48.09.320 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.320 - Borrowed capital.

RCW 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 expenses of its organization or for any purpose required by its business, upon an agreement that such money and such fair and reasonable interest thereon as may be agreed upon, shall be repaid only out of the insurer's earned surplus in excess of its required minimum surplus.(2) An insurer borrowing funds under this section must comply with the national association of insurance commissioner's - accounting practices and procedures manual which sets forth requirements for borrowed money to be treated as surplus notes for financial accounting purposes.(3) The commissioner's approval of such borrowed funds, if granted, shall specify the amount to be borrowed, the purpose for which the money is to be used, the terms and form of the loan agreement, the date by which the loan must be completed, fair and reasonable commissions or promotional expenses to be incurred or to be paid, and such other related matters as the commissioner shall deem proper. If the money is to be borrowed upon multiple agreements, the agreements shall be serially numbered. No loan agreement or series thereof shall have or be given any preferential rights over any other such loan agreement or series.[ 2003 c 249 § 1; 1947 c 79 § .09.32; Rem. Supp. 1947 § 45.09.32.]
WA Rev Code § 48.09.330 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.330 - Repayment of borrowed capital.

RCW 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 funds which represent such loan or realized net earned surplus. No repayment shall be made which reduces the insurer's surplus below the minimum surplus required for the kinds of insurance transacted.(2) The insurer shall repay any such loan or the largest possible part thereof when the purposes for which such funds were borrowed have been fulfilled and when the insurer's surplus is adequate to so repay without unreasonable impairment of the insurer's operations.(3) No repayment of such loan shall be made unless approved by the commissioner. The insurer shall notify the commissioner in writing not less than sixty days in advance of its intention to repay such loan or any part thereof, and the commissioner shall forthwith ascertain whether the insurer's financial condition is such that the repayment can properly be made.(4) Upon dissolution and liquidation of the insurer, after the retirement of all its other outstanding obligations the holders of any such loan agreements then remaining unpaid shall be entitled to payment before any distribution of surplus is made to the insurer's members.[ 1949 c 190 § 13; 1947 c 79 § .09.33; Rem. Supp. 1949 § 45.09.33.]
WA Rev Code § 48.09.340 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.340 - Impairment of surplus.

RCW 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 any surplus required by this code for the kinds of insurance authorized to be transacted, the commissioner shall at once ascertain the amount of the deficiency and serve notice upon the insurer to cure the deficiency within ninety days after such service of notice.(2) If the deficiency is not made good in cash or in assets eligible under this code for the investment of the insurer's funds, and proof thereof filed with the commissioner within such ninety-day period, the insurer shall be deemed insolvent and shall be proceeded against as authorized by this code.(3) If the deficiency is not made good the insurer shall not issue or deliver any policy after the expiration of such ninety-day period. Any officer or director who violates or knowingly permits the violating of this provision shall be subject to a fine of from fifty dollars to one thousand dollars for each violation.[ 1949 c 190 § 14; 1947 c 79 § 09.34; Rem. Supp. 1949 § 45.09.34.]
WA Rev Code § 48.09.350 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.350 - Reorganization of mutual as stock insurer—Reinsurance—Approval.

RCW 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 corporation, pursuant to a plan of reorganization as approved by the commissioner.(2) A domestic mutual insurer may be wholly reinsured in and its assets transferred to and its liabilities assumed by another mutual or stock insurer under such terms and conditions as are approved by the commissioner in advance of such reinsurance.(3) The commissioner shall not approve any such reorganization plan or reinsurance agreement which does not determine the amount of and make adequate provision for paying to members of such mutual insurer, reasonable compensation for their equities as owners of such insurer, such compensation to be apportioned to members as identified and in the manner prescribed in RCW 48.09.360. The procedure for approval by the commissioner of any such reorganization plan or reinsurance agreement shall be the same as the procedure for approval by the commissioner of a plan of merger or consolidation under RCW 48.31.010.Approval at a corporate meeting of members by two-thirds of the then members of a domestic mutual insurer who vote on the plan or agreement pursuant to such notice and procedure as was approved by the commissioner shall constitute approval of any such reorganization plan or reinsurance agreement by the insurer's members.[ 1984 c 23 § 1; 1983 1st ex.s. c 32 § 1; 1947 c 79 § .09.35; Rem. Supp. 1947 § 45.09.35.]
WA Rev Code § 48.09.360 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.09 - Mutual Insurers.|48.09.360 - Distribution of assets and ownership equities upon liquidation.

RCW 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 members who were such within the thirty-six months prior to the last termination of its certificate of authority.(2) Upon the reorganization of a domestic mutual insurer as a domestic stock insurer under RCW 48.09.350(1) or upon reinsurance of the whole of the liabilities and transfer of all the assets of a domestic mutual insurer under RCW 48.09.350(2), the ownership equities of members of the domestic mutual insurer shall be distributed to its members who were such on an eligibility date stated in the reorganization plan or reinsurance agreement, or who were such within the thirty-six months prior to such eligibility date. Such eligibility date shall be either the date on which the reorganization plan or reinsurance agreement is adopted by resolution of the board of directors of the domestic mutual insurer, or the date on which the reorganization plan or reinsurance agreement is approved by a vote of the members, or the date which ends a calendar quarter during which either of such actions is taken.(3) Upon the liquidation of a domestic mutual insurer, the distributive share of each such member shall be in the proportion that the aggregate premiums earned by the insurer on the policies of the member during the thirty-six months before the last termination of the insurer's certificate of authority, bear to the aggregate of all premiums so earned on the policies of all such members during the same thirty-six months.(4) Upon the reorganization of a domestic mutual insurer as a domestic stock insurer under RCW 48.09.350(1) or upon reinsurance of the whole of the liabilities and transfer of all the assets of a domestic mutual insurer under RCW 48.09.350(2), the distributive share of each member entitled thereto shall be in the proportion that the aggregate premiums earned by the insurer on the policies in force of that member during the thirty-six months before the eligibility date established under RCW 48.09.360(2) bear to the aggregate of all premiums so earned during the same thirty-six months on all the policies in force of all such members who are entitled to a distributive share.(5) If a life insurer, the insurer shall make a reasonable classification of its life insurance policies so held by such members entitled to a distributive share and a formula based upon such classification for determining the equitable distributive share of each such member. Such classification and formula shall be subject to the commissioner's approval.[ 1984 c 23 § 2; 1947 c 79 § .09.36; Rem. Supp. 1947 § 45.09.36.]
WA Rev Code § 48.10.010 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.010 - "Reciprocal insurance" defined.

RCW 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" common to all such persons.[1947 c 79 § .10.01; Rem. Supp. 1947 § 45.10.01.]
WA Rev Code § 48.10.020 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.020 - "Reciprocal insurer" defined.

RCW 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 § .10.02; Rem. Supp. 1947 § 45.10.02.]
WA Rev Code § 48.10.030 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.030 - Scope of chapter.

RCW 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; Rem. Supp. 1947 § 45.10.03.]
WA Rev Code § 48.10.050 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.050 - Insuring powers of reciprocals.

RCW 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 than life or title insurances.(2) A reciprocal insurer may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance which it is authorized to transact direct.[1947 c 79 § .10.05; Rem. Supp. 1947 § 45.10.05.]
WA Rev Code § 48.10.055 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.055 - Real property—Attorney's duty.

RCW 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 insurer. All deeds, notes, mortgages, or other documents relating to the real property may be executed in the name of the reciprocal insurer by its attorney.[ 1991 c 266 § 1.]
WA Rev Code § 48.10.060 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.060 - Name—Suits.

RCW 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 "underwriters," or "underwriting."(2) Sue and be sued in its own name.[1947 c 79 § .10.06; Rem. Supp. 1947 § 45.10.06.]
WA Rev Code § 48.10.070 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.070 - Surplus funds required.

RCW 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 it initially possesses surplus in an amount equal to or exceeding the capital and surplus requirements required under RCW 48.05.340(1) plus special surplus, if any, required under *RCW 48.05.360 and thereafter possesses, and maintains surplus funds equal to the paid-in capital stock required under RCW 48.05.340 of a stock insurer transacting like kinds of insurance, and the special surplus, if any, required under *RCW 48.05.360.(2) A domestic reciprocal insurer which under prior laws held authority to transact insurance in this state may continue to be so authorized so long as it otherwise qualifies therefor and maintains surplus funds in amount not less than as required under laws of this state in force at the time such authority to transact insurance in this state was granted.(3) A domestic reciprocal insurer heretofore formed shall maintain on deposit with the commissioner surplus funds of not less than the sum of one hundred thousand dollars, and to transact kinds of insurance transacted by it in addition to that authorized by its original certificate of authority, shall have and maintain surplus (including the amount of such deposit) in amount not less than the paid-in capital stock required under RCW 48.05.340(1) plus special surplus, if any, required under *RCW 48.05.360, of a domestic stock insurer formed after 1967 and transacting the same kinds of insurance. Such additional surplus funds need not be deposited with the commissioner.[ 1985 c 264 § 4; 1975 1st ex.s. c 266 § 5; 1963 c 195 § 5; 1947 c 79 § .10.07; Rem. Supp. 1947 § 45.10.07.]NOTES:*Reviser's note: RCW 48.05.360 was repealed by 2005 c 223 § 35.Severability—1975 1st ex.s. c 266: See note following RCW 48.01.010.
WA Rev Code § 48.10.080 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.080 - Attorney.

RCW 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) The attorney of a foreign or alien reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by virtue of discharge of its duties as such attorney with respect to the insurer's transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign persons, firms, or corporations.(3) The subscribers and the attorney-in-fact comprise a reciprocal insurer and a single entity for the purposes of chapter 48.14 RCW as to all operations under the insurer's certificate of authority.[ 1965 ex.s. c 70 § 35; 1947 c 79 § .10.08; Rem. Supp. 1947 § 45.10.08.]
WA Rev Code § 48.10.090 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.10 - Reciprocal Insurers.|48.10.090 - Organization of reciprocal.

RCW 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 commissioner for a certificate of authority to transact insurance.(2) When applying for a certificate of authority, the original subscribers and the proposed attorney shall fulfill the requirements of and shall execute and file with the commissioner a declaration setting forth:(a) the name of the insurer;(b) the location of the insurer's principal office, which shall be the same as that of the attorney and shall be maintained within this state;(c) the kinds of insurance proposed to be transacted;(d) the names and addresses of the original subscribers;(e) the designation and appointment of the proposed attorney and a copy of the power of attorney;(f) the names and addresses of the officers and directors of the attorney, if a corporation, or of its members, if a firm;(g) the powers of the subscribers' advisory committee and the names and terms of office of the members thereof;(h) that all moneys paid to the reciprocal, after deducting therefrom any sum payable to the attorney, shall be held in the name of the insurer and for the purposes specified in the subscriber's agreement;(i) a copy of the subscriber's agreement;(j) a statement that each of the original subscribers has in good faith applied for insurance of the kind proposed to be transacted, and that the insurer has received from each such subscriber the full premium or premium deposit required for the policy applied for, for a term of not less than six months at the rate theretofore filed with and approved by the commissioner;(k) a statement of the financial condition of the insurer, a schedule of its assets, and a statement that the surplus as required by RCW 48.10.070 is on hand;(l) a copy of each policy, endorsement, and application form it then proposes to issue or use.Such declaration shall be acknowledged by each such subscriber and by the attorney in the manner required for the acknowledgment of deeds to real estate.[1947 c 79 § .10.09; Rem. Supp. 1947 § 45.10.09.]