48.32A.005 – Short title.

RCW 48.32A.005 Short title. This chapter may be known and cited as the Washington life and disability insurance guaranty association act. [ 2001 c 50 § 1.]

48.32A.015 – Purpose.

RCW 48.32A.015 Purpose. (1) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in RCW 48.32A.025(1) against failure in the performance of contractual obligations, under life insurance, disability insurance, health benefit plans, and certificates of coverage, and annuity policies, plans, or contracts specified in RCW 48.32A.025(2), because of the […]

48.32A.025 – Coverage and limitations.

RCW 48.32A.025 Coverage and limitations. (1) This chapter provides coverage for the policies and contracts specified in subsection (2) of this section as follows: (a) To persons who, regardless of where they reside, except for nonresident certificate holders or enrollees under group policies or contracts, are the beneficiaries, assignees, or payees, including health care providers […]

48.32A.035 – Construction.

RCW 48.32A.035 Construction. This chapter shall be construed to effect the purpose under RCW 48.32A.015. [ 2001 c 50 § 4.]

48.32A.045 – Definitions.

RCW 48.32A.045 Definitions. The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) “Account” means either of the two accounts created under RCW 48.32A.055. (2) “Association” means the Washington life and disability insurance guaranty association created under RCW 48.32A.055. (3) “Authorized assessment” or the term “authorized” when used in […]

48.32A.055 – Creation of the association.

RCW 48.32A.055 Creation of the association. (1) There is created a nonprofit unincorporated legal entity to be known as the Washington life and disability insurance guaranty association which is composed of the commissioner ex officio and each member insurer. All member insurers must be and remain members of the association as a condition of their […]

48.32A.065 – Board of directors.

RCW 48.32A.065 Board of directors. (1) The board of directors of the association consists of the commissioner ex officio and not less than seven nor more than 11 member insurers serving terms as established in the plan of operation. The insurer members of the board are selected by member insurers subject to the approval of […]

48.32A.075 – Powers and duties of the association.

RCW 48.32A.075 Powers and duties of the association. (1) If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer and that are approved by the commissioner: (a) Guarantee, assume, reissue, or […]

48.32A.085 – Assessments.

RCW 48.32A.085 Assessments. (1) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments are due not less than thirty days […]

48.32A.095 – Plan of operation.

RCW 48.32A.095 Plan of operation. (1)(a) The association shall submit to the commissioner a plan of operation and any amendments necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments are effective upon the commissioner’s written approval or unless it has not been disapproved […]

48.32A.105 – Duties and powers of the commissioner.

RCW 48.32A.105 Duties and powers of the commissioner. (1) In addition to the duties and powers enumerated elsewhere in this chapter, the commissioner shall: (a) Upon request of the board of directors, provide the association with a statement of the premiums in this and other appropriate states for each member insurer; (b) When an impairment […]

48.32A.115 – Prevention of insolvencies.

RCW 48.32A.115 Prevention of insolvencies. The commissioner shall aid in the detection and prevention of member insurer insolvencies or impairments. (1) It is the duty of the commissioner to: (a) Notify the commissioners of all the other states, territories of the United States, and the District of Columbia within thirty days following the action taken […]

48.32A.125 – Credits for assessments paid—Tax offsets.

RCW 48.32A.125 Credits for assessments paid—Tax offsets. (1) A member insurer may offset against its premium tax liability to this state an assessment described in RCW 48.32A.085(8) to the extent of twenty percent of the amount of the assessment for each of the five calendar years following the year in which the assessment was paid. […]

48.32A.135 – Miscellaneous provisions.

RCW 48.32A.135 Miscellaneous provisions. (1) This chapter does not reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability. (2) Records must be kept of all meetings of the board of directors to discuss the activities of the association in carrying out its […]

48.32A.145 – Examination of the association—Annual report.

RCW 48.32A.145 Examination of the association—Annual report. The association is subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner each year, not later than one hundred eighty days after the association’s fiscal year, a financial report in a form approved by the commissioner and a report of […]

48.32A.155 – Tax exemptions.

RCW 48.32A.155 Tax exemptions. The association is exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property. [ 2001 c 50 § 16.]

48.32A.165 – Immunity.

RCW 48.32A.165 Immunity. There is no liability on the part of and no cause of action of any nature may arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or the commissioner’s representatives, for any action or omission […]

48.32A.175 – Stay of proceedings—Reopening default judgments.

RCW 48.32A.175 Stay of proceedings—Reopening default judgments. All proceedings in which the insolvent insurer is a party in any court in this state are stayed one hundred eighty days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters germane to its […]

48.32A.185 – Prohibited advertisement of insurance guaranty association act in insurance sales—Notice to policy owners.

RCW 48.32A.185 Prohibited advertisement of insurance guaranty association act in insurance sales—Notice to policy owners. (1) No person, including a member insurer, agent, or affiliate of a member insurer may make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, […]

48.32A.901 – Prospective application—Savings—2001 c 50.

RCW 48.32A.901 Prospective application—Savings—2001 c 50. (1) This chapter does not apply to any impaired insurer that was under an order of rehabilitation or conservation, or to any insolvent insurer that was placed under an order of liquidation, prior to July 22, 2001. (2) Any section repealed in this act pertaining to the powers and […]