RCW 48.35.060
Trusteed assets—Creation—Commissioner's approval of trust agreement.
(1) The alien insurer shall create the trusteed assets required by this chapter under a written trust agreement between the insurer and the trustee, consistent with the provisions of this chapter, and in such form and manner as the commissioner may designate or approve.
(2) The agreement is effective when filed with and approved in writing by the commissioner. The commissioner shall not approve any trust agreement not found to be in compliance with state or federal law or the terms of which do not in fact provide reasonably adequate protection for the insurer's policyholders or creditors, or both, in the United States.
[ 1991 c 268 § 5.]
Structure Revised Code of Washington
Chapter 48.35 - Alien Insurers.
48.35.010 - Application—Definition.
48.35.020 - Deposit required—Amount.
48.35.030 - Deposit required—Duration.
48.35.040 - Trusts created before May 17, 1991.
48.35.050 - Alien insurer—State authorization required.
48.35.060 - Trusteed assets—Creation—Commissioner's approval of trust agreement.
48.35.070 - Trust agreement—Amendment.
48.35.080 - Trust agreement—Withdrawal of commissioner's approval.
48.35.090 - Trust agreement—Vesting of trusteed assets.
48.35.100 - Trusteed assets—Trustee's records.
48.35.110 - Trusteed assets—Trustee's statements—Commissioner's approval.
48.35.120 - Trusteed assets—Examination—Commissioner's approval of assignment or transfer.
48.35.130 - Trusteed assets—Commissioner's approval of withdrawals.
48.35.140 - Trusteed assets—Substitution of trustee.
48.35.150 - Trusteed assets—Compensation and expenses of trustees.
48.35.160 - United States manager—Mexican or Canadian insurers.
48.35.170 - Domestication of alien insurer—Commissioner's approval.
48.35.180 - Domestication agreement—Necessary authorization.
48.35.190 - Domestication agreement—Commissioner's approval of corporate proceedings.
48.35.200 - Domestication—When effective—Deposits—Transfer of assets.