reglab/housing_qa huggingface dataset:
WA Rev Code § 48.07.050 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.050 - Directors—Qualifications—Removal.

RCW 48.07.050 Directors—Qualifications—Removal.Not less than three-fourths of the directors of an incorporated domestic insurer shall be United States or Canadian citizens, and a majority of the board of directors of a mutual life insurer shall be residents of this state. The directors of a domestic insurer or domestic insurance holding corporation may be removed with cause by a vote of a majority of its voting capital stock or members (if a mutual insurer) at a valid meeting and said directors may be removed without cause by a vote of sixty-seven percent of its voting capital stock or members (if a mutual insurer) at a valid meeting.[ 1989 c 24 § 1; 1985 c 364 § 3; 1957 c 193 § 21; 1947 c 79 § .07.05; Rem. Supp. 1947 § 45.07.05.]NOTES:Severability—1985 c 364: See note following RCW 48.07.030.
WA Rev Code § 48.07.060 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.060 - Corrupt practices—Penalty.

RCW 48.07.060 Corrupt practices—Penalty.No person shall buy or sell or barter a vote or proxy, relative to any meeting of shareholders or members of an incorporated domestic insurer, or engage in any corrupt or dishonest practice in or relative to the conduct of any such meeting. Violation of this section shall constitute a gross misdemeanor.[1947 c 79 § .07.06; Rem. Supp. 1947 § 45.07.06.]
WA Rev Code § 48.07.070 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.070 - Amendment of articles of incorporation.

RCW 48.07.070 Amendment of articles of incorporation.(1) Unless a vote of a greater proportion of directors or shares is required by its articles of incorporation, amendments to the articles of incorporation of a domestic insurer or a domestic insurance holding corporation shall be made by a majority vote of its board of directors and the vote or written assent of a majority of its voting capital stock, or two-thirds of the members (if a mutual insurer) voting at a valid meeting of members.(2) The president and secretary of the insurer shall, under the corporate seal, certify the amendment in duplicate, and file both copies in the office of the commissioner as required under this code for original articles of incorporation. Thereupon, subject to the requirements of RCW 48.08.010 relative to increase of capital stock of a stock insurer, the amendment shall become effective.[ 1998 c 23 § 3; 1985 c 364 § 4; 1981 c 302 § 38; 1947 c 79 § .07.07; Rem. Supp. 1947 § 45.07.07.]NOTES:Severability—1985 c 364: See note following RCW 48.07.030.Severability—1981 c 302: See note following RCW 19.76.100.
WA Rev Code § 48.07.080 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.080 - Guarantee of officers' obligations prohibited.

RCW 48.07.080 Guarantee of officers' obligations prohibited.No domestic insurer or its affiliates or subsidiaries shall guarantee the financial obligation of any director or officer of such insurer or affiliate or subsidiary in his or her personal capacity, and any such guaranty attempted shall be void.This prohibition shall not apply to obligations of the insurer under surety bonds or insurance contracts issued in the regular course of business.[ 2009 c 549 § 7026; 1947 c 79 § .07.08; Rem. Supp. 1947 § 45.07.08.]
WA Rev Code § 48.07.100 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.100 - Vouchers for expenditures.

RCW 48.07.100 Vouchers for expenditures.(1) No domestic insurer shall make any disbursement of twenty-five dollars or more, unless evidenced by a voucher correctly describing the consideration for the payment and supported by a check or receipt endorsed or signed by or on behalf of the person receiving the money.(2) If the disbursement is for services and reimbursement, the voucher shall describe the services and itemize the expenditures.(3) If the disbursement is in connection with any matter pending before any legislature or public body or before any public official, the voucher shall also correctly describe the nature of the matter and of the insurer's interest therein.[1947 c 79 § .07.10; Rem. Supp. 1947 § 45.07.10.]
WA Rev Code § 48.07.110 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.110 - Depositaries.

RCW 48.07.110 Depositaries.The funds of a domestic insurer shall not be deposited in any bank or banking institution which has not first been approved as a depositary by the insurer's board of directors or by a committee thereof designated for the purpose.[1947 c 79 § .07.11; Rem. Supp. 1947 § 45.07.11.]
WA Rev Code § 48.07.130 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.130 - Pecuniary interest of officer or director, restrictions upon.

RCW 48.07.130 Pecuniary interest of officer or director, restrictions upon.(1) No person having any authority in the investment or disposition of the funds of a domestic insurer and no officer or director of an insurer shall accept, except for the insurer, or be the beneficiary of any fee, brokerage, gift, commission, or other emolument because of any sale of insurance or of any investment, loan, deposit, purchase, sale, payment, or exchange made by or for the insurer, or be pecuniarily interested therein in any capacity; except, that such a person may procure a loan from the insurer direct upon approval by two-thirds of its directors and upon the pledge of securities eligible for the investment of the insurer's funds under this code.(2) This section does not prohibit a life insurer from making a policy loan to such person on a life insurance contract issued by it and in accordance with the terms thereof.(3) The commissioner may permit additional exceptions to the prohibition contained in subsection (1) of this section to enable payment of reasonable compensation to a director who is not otherwise an officer or employee of the insurer, or to a corporation or firm in which the director is interested, for necessary services performed or sales or purchases made to or for the insurer in the ordinary course of the insurer's business and in the usual private professional or business capacity of such director or such corporation or firm.In addition, the commissioner may permit exceptions to the prohibitions contained in subsection (1) of this section where the payment of a fee, brokerage, gift, commission, or other emolument is fully disclosed to the insurer's officers and directors and is reasonable in relation to the service performed.[ 1989 c 228 § 1; 1981 c 339 § 5; 1947 c 79 § .07.13; Rem. Supp. 1947 § 45.07.13.]
WA Rev Code § 48.07.140 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.140 - Compliance with foreign laws.

RCW 48.07.140 Compliance with foreign laws.Any domestic insurer doing business in another state, territory or sovereignty may design and issue insurance contracts and transact insurance in such state, territory or sovereignty as required or permitted by the laws thereof, any provision of the insurer's articles of incorporation or bylaws notwithstanding.[1947 c 79 § .07.14; Rem. Supp. 1947 § 45.07.14.]
WA Rev Code § 48.07.150 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.150 - Solicitations in other states.

RCW 48.07.150 Solicitations in other states.(1) No domestic insurer shall knowingly solicit insurance business in any reciprocating state in which it is not then licensed as an authorized insurer.(2) This section shall not prohibit advertising through publications and radio broadcasts originating outside such reciprocating state, if the insurer is licensed in a majority of the states in which such advertising is disseminated, and if such advertising is not specifically directed to residents of such reciprocating state.(3) This section shall not prohibit insurance, covering persons or risks located in a reciprocating state, under contracts solicited and issued in states in which the insurer is then licensed. Nor shall it prohibit insurance effectuated by the insurer as an unauthorized insurer in accordance with the laws of the reciprocating state. Nor shall it prohibit renewal or continuance in force, with or without modification, of contracts otherwise lawful and which were not originally executed in violation of this section.(4) A "reciprocating" state, as used herein, is one under the laws of which a similar prohibition is imposed upon and is enforced against insurers domiciled in that state.(5) The commissioner shall suspend or revoke the certificate of authority of a domestic insurer found by him or her, after a hearing, to have violated this section.[ 2009 c 549 § 7027; 1988 c 248 § 4; 1947 c 79 § .07.15; Rem. Supp. 1947 § 45.07.15.]
WA Rev Code § 48.07.160 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.160 - Continuing operation in event of emergency—Declaration of purpose—"Insurer" defined.

RCW 48.07.160 Continuing operation in event of emergency—Declaration of purpose—"Insurer" defined.It is desirable for the general welfare and in particular for the welfare of insurance beneficiaries, policyholders, claimants, subscribers, and others that the business of domestic insurers be continued notwithstanding the event of a local, state, or national emergency. The purpose of this section, RCW 48.07.170 through 48.07.200, and 48.07.203 is to facilitate the continued operation of domestic insurers in the event that a local, state, or national emergency is so disruptive of normal business and commerce as to make it impossible or impracticable for a domestic insurer to conduct its business in accord with applicable provisions of law, its bylaws, or its charter. When used in this section, RCW 48.07.170 through 48.07.200, and 48.07.203 the word "insurer" means the same as defined in RCW 48.01.053 [48.01.050].[ 2009 c 150 § 1; 1963 c 195 § 25.]NOTES:Effective date—2009 c 150: "This act takes effect January 1, 2011." [ 2009 c 150 § 8.]
WA Rev Code § 48.07.170 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.170 - Continuing operation in event of emergency—Emergency bylaws.

RCW 48.07.170 Continuing operation in event of emergency—Emergency bylaws.The board of directors of any domestic insurer may at any time adopt emergency bylaws, subject to repeal or change by action of those having power to adopt regular bylaws for such insurer, which shall be operative during such a local, state, or national emergency and which may, notwithstanding any different provisions of the regular bylaws, or of the applicable statutes, or of such insurer's charter, make any provision that may be reasonably necessary for the operation of such insurer during the period of such emergency.[ 2009 c 150 § 2; 1963 c 195 § 26.]NOTES:Effective date—2009 c 150: See note following RCW 48.07.160.
WA Rev Code § 48.07.180 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.180 - Continuing operation in event of emergency—Directors.

RCW 48.07.180 Continuing operation in event of emergency—Directors.In the event that the board of directors of a domestic insurer has not adopted emergency bylaws, the following provisions shall become effective upon the occurrence of such a local, state, or national emergency as described in this chapter:(1) Three directors shall constitute a quorum for the transaction of business at all meetings of the board.(2) Any vacancy in the board may be filled by a majority of the remaining directors, though less than a quorum, or by a sole remaining director.(3) If there are no surviving directors, but at least three vice presidents of such insurer survive, the three vice presidents with the longest term of service shall be the directors and shall possess all of the powers of the previous board of directors and such powers as are granted in this chapter or by subsequently enacted legislation. By majority vote, such emergency board of directors may elect other directors. If there are not at least three surviving vice presidents, the commissioner or duly designated person exercising the powers of the commissioner shall appoint three persons as directors who shall include any surviving vice presidents and who shall possess all of the powers of the previous board of directors and such powers as are granted in this chapter or by subsequently enacted legislation, and these persons by majority vote may elect other directors.[ 2009 c 150 § 3; 1963 c 195 § 27.]NOTES:Effective date—2009 c 150: See note following RCW 48.07.160.
WA Rev Code § 48.07.190 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.190 - Continuing operation in event of emergency—Officers.

RCW 48.07.190 Continuing operation in event of emergency—Officers.At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of such a local, state, or national emergency and in the event of the death or incapacity of the president, the secretary, or the treasurer of such insurer, such officers, or any of them, shall be succeeded in the office by the person named or described in a succession list adopted by the board of directors. Such list may be on the basis of named persons or position titles, shall establish the order of priority and may prescribe the conditions under which the powers of the office shall be exercised.[ 2009 c 150 § 4; 1963 c 195 § 28.]NOTES:Effective date—2009 c 150: See note following RCW 48.07.160.
WA Rev Code § 48.07.200 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.200 - Continuing operation in event of emergency—Principal office and place of business.

RCW 48.07.200 Continuing operation in event of emergency—Principal office and place of business.At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of such a local, state, or national emergency the principal office and place of business of such insurer shall be at such location as is named or described in the resolution. Such resolution may provide for alternate locations and establish an order of preference.[ 2009 c 150 § 5; 1963 c 195 § 29.]NOTES:Effective date—2009 c 150: See note following RCW 48.07.160.
WA Rev Code § 48.07.203 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.203 - Continuing operation in event of emergency—Written plan required.

RCW 48.07.203 Continuing operation in event of emergency—Written plan required.Each domestic insurer must create and maintain a written business continuity plan identifying procedures relating to a local, state, or national emergency or significant business disruption. [ 2009 c 150 § 6.]NOTES:Effective date—2009 c 150: See note following RCW 48.07.160.
WA Rev Code § 48.07.205 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.07 - Domestic Insurers—Powers.|48.07.205 - Continuing operation in event of emergency—Planning standards—Rules.

RCW 48.07.205 Continuing operation in event of emergency—Planning standards—Rules.After considering relevant standards adopted by the national association of insurance commissioners, other states, and other regulatory authorities that regulate financial institutions, the commissioner shall adopt, by rule, standards for insurers and insurance producers to follow for business continuity planning.[ 2009 c 150 § 7.]NOTES:Effective date—2009 c 150: See note following RCW 48.07.160.
WA Rev Code § 48.08.010 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.08 - Domestic Stock Insurers.|48.08.010 - Increase of capital stock.

RCW 48.08.010 Increase of capital stock.(1) Increase of the capital stock of a domestic stock insurer shall be by amendment to its articles of incorporation.(2) If the increased capital stock is to be distributed as a stock dividend, such increased capital stock may be fully paid in out of any available surplus funds as is provided in RCW 48.08.030, and such payment shall be effected by a transfer on the insurer's books from its surplus account to its capital account.(3) When the increased capital has been fully paid in, a certificate to such effect shall be made in quadruplicate under oath and the corporate seal by the insurer's president and secretary and filed in the public offices named in RCW 48.07.070.[ 1953 c 197 § 4; 1947 c 79 § .08.01; Rem. Supp. 1947 § 45.08.01.]
WA Rev Code § 48.08.020 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.08 - Domestic Stock Insurers.|48.08.020 - Reduction of capital stock.

RCW 48.08.020 Reduction of capital stock.(1) Reduction of the capital stock of a domestic stock insurer shall be by amendment of its articles of incorporation. No such reduction shall be made which results in capital stock less in amount than the minimum required by this code for the kinds of insurance thereafter to be transacted by the insurer.(2) No surplus funds of the insurer resulting from a reduction of its capital stock shall be distributed to stockholders, except as a stock dividend on a subsequent increase of capital stock, or upon dissolution of the insurer, or upon approval of the commissioner of a distribution upon proof satisfactory to him or her that the distribution will not impair the interests of policyholders or the insurer's solvency.(3) Upon such reduction of capital stock, the insurer's directors shall call in any outstanding stock certificates required to be changed pursuant thereto, and issue proper certificates in their stead.[ 2009 c 549 § 7028; 1947 c 79 § .08.02; Rem. Supp. 1947 § 45.08.02.]
WA Rev Code § 48.08.030 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.08 - Domestic Stock Insurers.|48.08.030 - Dividends to stockholders.

RCW 48.08.030 Dividends to stockholders.(1) No domestic stock insurer shall pay any cash dividend to stockholders except out of earned surplus. For the purpose of this section, "earned surplus" means that part of its available surplus funds which is derived from any realized net profits on its business, and does not include unrealized capital gains or reevaluation of assets.(2) Such an insurer may pay a stock dividend out of any available surplus funds.(3) Payment of any dividend to stockholders of a domestic stock insurer shall also be subject to all the limitations and requirements governing the payment of dividends by other private corporations.(4) No dividend shall be declared or paid which would reduce the insurer's surplus to an amount less than the minimum required for the kinds of insurance thereafter to be transacted.(5) For the purposes of this chapter "surplus funds" means the excess of the insurer's assets over its liabilities, including its capital stock as a liability.(6) Available surplus means the excess over the minimum amount of surplus required for the kinds of insurance the insurer is authorized to transact.[ 1993 c 462 § 52; 1947 c 79 § .08.03; Rem. Supp. 1947 § 45.08.03.]NOTES:Severability—Implementation—1993 c 462: See RCW 48.31B.901 and 48.31B.902.
WA Rev Code § 48.08.040 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.08 - Domestic Stock Insurers.|48.08.040 - Illegal dividends, reductions—Penalty against directors.

RCW 48.08.040 Illegal dividends, reductions—Penalty against directors.Any director of a domestic stock insurer who votes for or concurs in the declaration or payment of any dividend to stockholders or a reduction of capital stock not authorized by law shall, in addition to any other liability imposed by law, be guilty of a gross misdemeanor.[1947 c 79 § .08.04; Rem. Supp. 1947 § 45.08.04.]
WA Rev Code § 48.08.050 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.08 - Domestic Stock Insurers.|48.08.050 - Impairment of capital.

RCW 48.08.050 Impairment of capital.(1) If the capital stock of a domestic stock insurer becomes impaired, the commissioner shall at once determine the amount of the deficiency and serve notice upon the insurer to require its stockholders to make good the deficiency within ninety days after service of such notice.(2) The deficiency shall be made good in cash, or in assets eligible under this code for the investment of the insurer's funds, or by reduction of the insurer's capital stock to an amount not below the minimum required for the kinds of insurance to be thereafter transacted.(3) If the deficiency is not made good 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.(4) 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 violation of this provision shall be subject to a fine of from fifty dollars to one thousand dollars for each violation.[1947 c 79 § .08.05; Rem. Supp. 1947 § 45.08.05.]
WA Rev Code § 48.08.060 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.08 - Domestic Stock Insurers.|48.08.060 - Repayment of contributions to surplus.

RCW 48.08.060 Repayment of contributions to surplus.Contributions to the surplus of a domestic stock insurer other than resulting from sale of its capital stock, shall not be subject to repayment except out of surplus in excess of the minimum surplus initially required of such an insurer transacting like kinds of insurance.[1947 c 79 § .08.06; Rem. Supp. 1947 § 45.08.06.]
WA Rev Code § 48.08.070 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.08 - Domestic Stock Insurers.|48.08.070 - Participating policies.

RCW 48.08.070 Participating policies.(1) Any domestic stock insurer may, if its charter so provides, issue policies entitled to participate from time to time in the earnings of the insurer through dividends.(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 such insurer shall 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.(4) Dividends to participating life insurance policies issued by such insurer shall be paid only out of its surplus funds as defined in subsection (5) of RCW 48.08.030. Dividends to participating policies for other kinds of insurance shall be paid only out of that part of such surplus funds which is derived from any realized net profits from the insurer's business.(5) No dividend, otherwise earned, shall be made contingent upon the payment of renewal premium on any policy.[1947 c 79 § .08.07; Rem. Supp. 1947 § 45.08.07.]