RCW 48.17.600
Separation of premium funds.
(1) All funds representing premiums or return premiums received by an insurance producer or title insurance agent in the insurance producer's or title insurance agent's fiduciary capacity shall be accounted for and maintained in a separate account from all other business and personal funds.
(2) An insurance producer or title insurance agent shall not commingle or otherwise combine premiums with any other moneys, except as provided in subsection (3) of this section.
(3) An insurance producer or title insurance agent may commingle with premium funds any additional funds as the insurance producer or title insurance agent may deem prudent for the purpose of advancing premiums, establishing reserves for the paying of return premiums, or for any contingencies as may arise in the insurance producer's or title insurance agent's business of receiving and transmitting premium or return premium funds.
(4) Each willful violation of this section shall constitute a misdemeanor.
[ 2007 c 117 § 33; 1988 c 248 § 15; 1986 c 69 § 1.]
NOTES:
Effective date—1986 c 69: "This act shall take effect on January 1, 1987." [ 1986 c 69 § 2.]
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.