Washington § 48.07.050 - Directors — Qualifications — Removal.

Full text of Washington Revised Code of Washington § 48.07.050 — Directors — Qualifications — Removal., with citation guidance and answers to common questions.

§ 48.07.050. Directors — Qualifications — Removal.

Not less than three-fourths of the directors of an incorporated domestic insurer shall be United States or Canadian citizens, and a majority of the board of directors of a mutual life insurer shall be residents of this state. The directors of a domestic insurer or domestic insurance holding corporation may be removed with cause by a vote of a majority of its voting capital stock or members (if a mutual insurer) at a valid meeting and said directors may be removed without cause by a vote of sixty-seven percent of its voting capital stock or members (if a mutual insurer) at a valid meeting.
[ 1989 c 24 s 1; 1985 c 364 s 3; 1957 c 193 s 21; 1947 c 79 s .07.05; Rem. Supp. 1947 s 45.07.05.]

Notes

Severability—1985 c 364: See note following RCW 48.07.030.

Related Washington Legal Topics

Frequently Asked Questions About Washington § 48.07.050

What does Revised Code of Washington § 48.07.050 cover?

Section 48.07.050 ("Directors — Qualifications — Removal.") 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 § 48.07.050?

A common citation format is "Revised Code of Washington § 48.07.050" (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 § 48.07.050 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.