Washington § 48.05.290 - Withdrawal of insurer — Reinsurance.

Full text of Washington Revised Code of Washington § 48.05.290 — Withdrawal of insurer — Reinsurance., with citation guidance and answers to common questions.

§ 48.05.290. Withdrawal of insurer — Reinsurance.

(1) No insurer shall withdraw from this state until its direct liability to its policyholders and obligees under all its insurance contracts then in force in this state has been assumed by another authorized insurer under an agreement approved by the commissioner. In the case of a life insurer, its liability pursuant to contracts issued in this state in settlement of proceeds under its policies shall likewise be so assumed.
(2) The commissioner may waive this requirement if he or she finds upon examination that a withdrawing insurer is then fully solvent and that the protection to be given its policyholders in this state will not be impaired by the waiver.
(3) The assuming insurer shall within a reasonable time replace the assumed insurance contracts with its own, or by endorsement thereon acknowledge its liability thereunder.
[ 2009 c 549 s 7019; 1947 c 79 s .05.29; Rem. Supp. 1947 s 45.05.29.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 48.05.290

What does Revised Code of Washington § 48.05.290 cover?

Section 48.05.290 ("Withdrawal of insurer — Reinsurance.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 48.05.290?

A common citation format is "Revised Code of Washington § 48.05.290" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 48.05.290 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.