Revised Code of Washington
Chapter 48.31B - Insurer Holding Company Act.
48.31B.055 - Violations of chapter—Impairment of financial condition—Commissioner may take possession.

RCW 48.31B.055
Violations of chapter—Impairment of financial condition—Commissioner may take possession.

Whenever it appears to the commissioner that a person has committed a violation of this chapter that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the commissioner may proceed as provided in RCW 48.31.030 and 48.31.040 to take possession of the property of the domestic insurer and to conduct the business of the insurer.

[ 1993 c 462 § 12.]

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Structure Revised Code of Washington

Revised Code of Washington

Title 48 - Insurance

Chapter 48.31B - Insurer Holding Company Act.

48.31B.005 - Definitions.

48.31B.010 - Domestic insurer may acquire subsidiaries—Authorized investments—Insurer ceases to control subsidiary—Disposal of investment.

48.31B.015 - Control of insurer—Acquisition, merger, or exchange—Preacquisition notification—Divestment of controlling interest—Jurisdiction of courts.

48.31B.020 - Acquisition of insurer—Change in control—Definitions—Exemptions—Competition—Preacquisition notification—Violations—Penalties.

48.31B.025 - Registration with commissioner—Information required—Rule making—Disclaimer of affiliation—Annual enterprise risk report—Failure to file.

48.31B.030 - Insurer subject to registration—Standards for transactions within a holding company system—Extraordinary dividends or distributions—Insurer's surplus—Officers and directors.