RCW 48.17.568
Insurance education providers—Bond.
In addition to the regulatory requirements imposed pursuant to RCW 48.17.150, the commissioner may require each insurance education provider to post a bond, cash deposit, or irrevocable letter of credit. Every insurance education provider, other than an insurer, health care service contractor, health maintenance organization, or educational institution established by Washington statutes, is subject to the requirement.
(1) The provider shall file with each request for course approval and shall maintain in force while so approved, the bond, cash deposit, or irrevocable letter of credit in favor of the state of Washington, according to criteria which the commissioner shall establish by regulation. The amount of such bond, cash deposit, or irrevocable letter of credit, shall not exceed five thousand dollars for the provider's first approved course and one thousand dollars for each additional approved course.
(2) Proceeds from the bond, cash deposit, or irrevocable letter of credit shall inure to the commissioner for payment of investigation expenses or for payment of any fine ordered per Washington statutes or regulations governing insurance education: PROVIDED, That recoverable investigation expenses or fines shall not be limited to the amount of such required bond, cash deposit, or irrevocable letter of credit.
[ 1989 c 323 § 5.]
NOTES:
Effective date—1989 c 323: See note following RCW 48.17.125.
Structure Revised Code of Washington
Chapter 48.17 - Insurance Producers, Title Insurance Agents, and Adjusters.
48.17.062 - Insurance producer license not required under chapter 117, Laws of 2007.
48.17.063 - Unlicensed activities—Acts committed in this state—Sanctions.
48.17.090 - Application for license—Commissioner's findings.
48.17.110 - Examination of applicants—Exemptions—Rules.
48.17.125 - Examination questions—Confidentiality—Penalties.
48.17.150 - Continuing education courses and requirements—Rules.
48.17.153 - Agents selling federal flood insurance policies—Training requirements.
48.17.160 - Appointment of agents—Approval—Termination—Fees.
48.17.173 - Nonresident license request—Conditions for approval—Service of legal process.
48.17.175 - In-state applicant has license in another state.
48.17.180 - Doing business under any name other than legal name.
48.17.250 - Insurance producer's bond.
48.17.270 - Insurance producer as insurer's agent—Compensation—Disclosure.
48.17.380 - Adjusters—Application form—Qualifications for license—Bond.
48.17.390 - Independent, public, or crop adjusters—Separate licenses.
48.17.410 - Authority of adjuster.
48.17.430 - Public adjuster's bond.
48.17.450 - Place of business.
48.17.460 - Display of license.
48.17.470 - Records of insurance producers, title insurance agents, adjusters.
48.17.475 - Licensee to reply promptly to inquiry by commissioner.
48.17.480 - Reporting and accounting for premiums.
48.17.490 - Must be licensed to receive a commission, service fee, or other valuable consideration.
48.17.510 - Temporary licenses—Restrictions—Commissioner's discretion.
48.17.535 - License or certificate suspension—Noncompliance with support order—Reissuance.
48.17.540 - Procedure to suspend, revoke, or refuse—Effect of conviction of felony.
48.17.550 - Duration of suspension.
48.17.560 - Fines may be imposed.
48.17.563 - Insurance education providers—Commissioner's approval—Renewal fee.
48.17.565 - Insurance education providers—Violations—Costs awarded.
48.17.568 - Insurance education providers—Bond.
48.17.591 - Termination of agency contract—Effect on insured—Definition—Application of section.
48.17.600 - Separation of premium funds.
48.17.901 - Effective date—2007 c 117.
48.17.902 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.