48.06.020 - Assessment mutuals prohibited -- Exceptions. - Washington Statutes

Assessment mutuals prohibited — Exceptions.

No insurer shall be formed or be authorized in this state to issue contracts of insurance the performance of which is contingent upon the payment of assessments, assessment premiums, or calls made upon its members. Mutual assessment property insurers and farm mutual assessment property insurers shall be the only exception to this provision.

[1947 c 79 § .06.02; Rem. Supp. 1947 § 45.06.02.]