48.30.200 - Hypothecation of premium notes. - Washington Statutes

Hypothecation of premium notes.

It shall be unlawful for any insurer or its representative, or any insurance producer, to hypothecate, sell, or dispose of any promissory note, received in payment for any premium or part thereof on any contract of life insurance or of disability insurance applied for, prior to delivery of the policy to the applicant.

[2008 c 217 § 39; 1947 c 79 § .30.20; Rem. Supp. 1947 § 45.30.20.]

Notes: Severability -- Effective date -- 2008 c 217: See notes following RCW 48.03.020.