RCW 48.64.090
Program may designate treasurer—Bond.
(1) A joint self-insurance program may by resolution of the program designate a person having experience with investments or financial matters as treasurer of the program. The program must require a bond obtained from a surety company in an amount and under the terms and conditions that the program finds will protect against loss arising from mismanagement or malfeasance in investing and managing program funds. The program may pay the premium on the bond.
(2) All interest and earnings collected on joint self-insurance program funds belong to the program and must be deposited to the program's credit in the proper program account.
[ 2009 c 314 § 10.]
Structure Revised Code of Washington
Chapter 48.64 - Affordable Housing Entities—Joint Self-Insurance Programs.
48.64.005 - Intent—Liberal construction.
48.64.020 - Rules necessary to implement multistate program—State risk manager.
48.64.030 - Authority to join or form program—Requirements—Terms of agreement.
48.64.040 - When chapter not applicable.
48.64.050 - Management and operation of programs—Rules adopted by state risk manager.
48.64.060 - Program approval required from state risk manager—Plan submission.
48.64.070 - Multistate programs—Conditions and requirements for participation.
48.64.090 - Program may designate treasurer—Bond.
48.64.110 - Programs are exempt from certain taxes and fees.
48.64.120 - Investigation fee—Amount determined by state risk manager.
48.64.130 - Immunity from liability in civil actions—Filing, furnishing, or using information.