RCW 48.98.005 Definitions. Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter. (1) “Actuary” means a person who is a member in good standing of the American academy of actuaries. (2) “Insurer” means a person having a certificate of authority in this state as an insurance company under RCW […]
RCW 48.98.010 Requirements for managing general agent—License—Bond—Errors and omissions policy. (1) No person may act in the capacity of a managing general agent with respect to risks located in this state, for an insurer authorized by this state, unless that person is licensed in this state as an insurance producer, under chapter 48.17 RCW, for […]
RCW 48.98.015 Contract required between a managing general agent and an insurer—Minimum provisions. A managing general agent may not place business with an insurer unless there is in force a written contract between the managing general agent and the insurer that sets forth the responsibilities of each party and, where both parties share responsibility for […]
RCW 48.98.020 Requirements for insurer—Audit, loss reserves, and on-site review of managing general agent—Notice to commissioner—Quarterly review of books and records—Board of director. (1) The insurer shall have on file an independent audited financial statement, in a form acceptable to the commissioner, of each managing general agent with which it is doing or has done […]
RCW 48.98.025 Examinations—Acts of a managing general agent are acts of the insurer. The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined as if it were the insurer, as provided in chapter 48.03 RCW. [ […]
RCW 48.98.030 Violations of chapter—Penalties—Judicial review. (1) Subject to a hearing in accordance with chapters 34.05 and 48.04 RCW, upon a finding by the commissioner that any person has violated any provision of this chapter, the commissioner may order: (a) For each separate violation, a penalty in an amount of not more than one thousand […]
RCW 48.98.035 Rule making. The commissioner may adopt rules for the implementation and administration of this chapter, that shall include but are not limited to licensure of managing general agents. [ 1993 c 462 § 41.]
RCW 48.98.040 Continued use of a managing general agent—Compliance with chapter. No insurer may continue to use the services of a managing general agent on and after January 1, 1994, unless that use complies with this chapter. [ 1993 c 462 § 42.]
RCW 48.98.900 Short title. This chapter may be known and cited as the managing general agents act. [ 1993 c 462 § 34.]
RCW 48.98.901 Severability—Implementation—1993 c 462. See RCW 48.31B.901 and 48.31B.902.
