48.16.020 - Deposits to be held in trust. - Washington Statutes

Deposits to be held in trust.

Each such deposit shall be held by the commissioner in trust for the protection of all policyholders in the United States of the insurer making it; except that deposits of alien insurers shall be so held for the security of such insurer's obligations arising out of its insurance transactions in the United States, and except as to deposits the purpose of which may be further limited pursuant to the retaliatory provision, RCW 48.14.040.

[1955 c 86 § 4; 1947 c 79 § .16.02; Rem. Supp. 1947 § 45.16.02.]

Notes: Effective date -- Supervision of transfer -- 1955 c 86: See notes following RCW 48.05.080.