48.164.085 - Examination of association. - Washington Statutes

Examination of association. (Expires December 31, 2016.)

(1) The commissioner may examine the transactions, financial condition, and operations of the association when the commissioner finds it necessary in order to carry out the purposes of this chapter. Except as set forth in subsections (2) and (3) of this section, each examination must be conducted in the manner prescribed for domestic insurance companies in chapter 48.03 or 48.37 RCW.

     (2) The commissioner is not required to examine any association on a prescribed cycle or schedule.

     (3) An association created under this chapter is responsible for the total costs of its financial and market conduct examinations. RCW 48.03.060 (1) and (2) and 48.37.060(14) (a) and (b) are not applicable to the examination of an association created under this chapter.

[2010 c 230 § 10.]