48.07.190 - Continuing operation in event of national emergency -- Officers. - Washington Statutes

Continuing operation in event of national emergency — Officers. (Effective until January 1, 2011.)

At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of such a 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.

[1963 c 195 § 28.]

RCW 48.07.190

Continuing operation in event of emergency — Officers. (Effective January 1, 2011.)

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.