RCW 48.130.005 Purposes—Insurance commissioner represents state. Under the terms and conditions of this chapter, the state of Washington seeks to join with other states and establish the interstate insurance product regulation compact and thus become a member of the interstate insurance product regulation commission. The insurance commissioner is hereby designated to serve as the representative […]
RCW 48.130.010 Definitions. The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) “Advertisement” means any material designed to create public interest in a product, or induce the public to purchase, increase, modify, reinstate, borrow on, surrender, replace, or retain a policy, as more specifically defined in the rules […]
RCW 48.130.020 Commission created. (1) The compacting states hereby create and establish a joint public agency known as the interstate insurance product regulation commission. Under RCW 48.130.030, the commission will have the power to develop uniform standards for product lines, receive and provide prompt review of products filed therewith, and give approval to those product […]
RCW 48.130.030 Commission’s powers. The commission shall have the following powers: (1) To adopt rules, under RCW 48.130.060, which shall have the force and effect of law and shall be binding in the compacting states to the extent and in the manner provided in the compact; (2) To exercise its rule-making authority and establish reasonable […]
RCW 48.130.040 Commission membership—Management and legislative committees—Liability. (1)(a) Each compacting state shall have and be limited to one member. Each member shall be qualified to serve in that capacity pursuant to applicable law of the compacting state. Any member may be removed or suspended from office as provided by the law of the state from […]
RCW 48.130.050 Commission actions—Voting. (1) The commission shall meet and take such actions as are consistent with the provisions of the compact and the bylaws. (2) Each member of the commission shall have the right and power to cast a vote to which that compacting state is entitled and to participate in the business and […]
RCW 48.130.060 Commission rule making—Uniform standards and operating procedures—States may opt out. (1) The commission shall adopt reasonable rules, including uniform standards, and operating procedures in order to effectively and efficiently achieve the purposes of the compact. In the event the commission exercises its rule-making authority in a manner that is beyond the scope of […]
RCW 48.130.070 Commission rule making—Confidentiality of information and records—Compliance with compact. (1) The commission shall adopt rules establishing conditions and procedures for public inspection and copying of its information and official records, except such information and records involving the privacy of individuals and insurers’ trade secrets. The commission may adopt additional rules under which it […]
RCW 48.130.080 Dispute resolution. The commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to this compact and which may arise between two or more compacting states, or between compacting states and noncompacting states, and the commission shall adopt an operating procedure providing for resolution […]
RCW 48.130.090 Commission approval of product—Filing—Rule making. (1) Insurers and third-party filers seeking to have a product approved by the commission shall file the product with, and pay applicable filing fees to, the commission. This chapter does not restrict or otherwise prevent an insurer from filing its product with the insurance department in any state […]
RCW 48.130.100 Commission disapproval of product—Appeal. (1) Not later than thirty days after the commission has given notice of a disapproved product or advertisement filed with the commission, the insurer or third-party filer whose filing was disapproved may appeal the determination to a review panel appointed by the commission. The commission shall adopt rules to […]
RCW 48.130.110 Commission expenses—Budget—Tax exempt—Accounting. (1) The commission shall pay or provide for the payment of the reasonable expenses of its establishment and organization. To fund the cost of its initial operations, the commission may accept contributions and other forms of funding from the national association of insurance commissioners, compacting states, and other sources. Contributions […]
RCW 48.130.120 Compact, commission, compact amendments—When effective. (1) Any state is eligible to become a compacting state. (2) The compact shall become effective and binding upon legislative enactment of the compact into law by two compacting states. However, the commission shall become effective for purposes of adopting uniform standards for, reviewing, and giving approval or […]
RCW 48.130.130 Withdrawal from compact, how—Default by state—Dissolution of compact. (1)(a) Once effective, the compact shall continue in force and remain binding upon each and every compacting state. However, a compacting state may withdraw from the compact by enacting a statute specifically repealing the statute which enacted the compact into law. (b) The effective date […]
RCW 48.130.140 Effect of compact—Other state laws—Binding on compacting states, when. (1)(a) The compact does not prevent the enforcement of any other law of a compacting state, except as provided in (b) of this subsection. (b) For any product approved or certified to the commission, the rules, uniform standards, and any other requirements of the […]
RCW 48.130.901 Construction—2005 c 92. This chapter shall be liberally construed. [ 2005 c 92 § 17.]
