RCW 48.07.080
Guarantee of officers' obligations prohibited.
No domestic insurer or its affiliates or subsidiaries shall guarantee the financial obligation of any director or officer of such insurer or affiliate or subsidiary in his or her personal capacity, and any such guaranty attempted shall be void.
This prohibition shall not apply to obligations of the insurer under surety bonds or insurance contracts issued in the regular course of business.
[ 2009 c 549 § 7026; 1947 c 79 § .07.08; Rem. Supp. 1947 § 45.07.08.]
Structure Revised Code of Washington
Chapter 48.07 - Domestic Insurers—Powers.
48.07.010 - Application of code to existing insurers.
48.07.030 - Application of general corporation laws.
48.07.040 - Annual, special meetings.
48.07.050 - Directors—Qualifications—Removal.
48.07.060 - Corrupt practices—Penalty.
48.07.070 - Amendment of articles of incorporation.
48.07.080 - Guarantee of officers' obligations prohibited.
48.07.100 - Vouchers for expenditures.
48.07.130 - Pecuniary interest of officer or director, restrictions upon.
48.07.140 - Compliance with foreign laws.
48.07.150 - Solicitations in other states.
48.07.160 - Continuing operation in event of emergency—Declaration of purpose—"Insurer" defined.
48.07.170 - Continuing operation in event of emergency—Emergency bylaws.
48.07.180 - Continuing operation in event of emergency—Directors.
48.07.190 - Continuing operation in event of emergency—Officers.
48.07.200 - Continuing operation in event of emergency—Principal office and place of business.
48.07.203 - Continuing operation in event of emergency—Written plan required.
48.07.205 - Continuing operation in event of emergency—Planning standards—Rules.