Washington § 48.05.090 - Alien insurers — Assets required — Trust deposit.

Full text of Washington Revised Code of Washington § 48.05.090 — Alien insurers — Assets required — Trust deposit., with citation guidance and answers to common questions.

§ 48.05.090. Alien insurers — Assets required — Trust deposit.

(1) An alien insurer shall not be authorized to transact insurance in this state unless it maintains within the United States assets in amount not less than its outstanding liabilities arising out of its insurance transactions in the United States, nor unless it maintains a trust deposit in an amount not less than the required reserves under its policies resulting from such transactions (after deducting, in the case of a life insurer, the amount of outstanding policy loans on such policies) plus assets equal to the larger of the following sums:
(a) The largest amount of deposit required under this title to be made in this state by any type of domestic insurer transacting like kinds of insurance; or
(b) Two hundred thousand dollars.
(2) The trust deposit shall be for the security of all policyholders or policyholders and obligees of the insurer in the United States. It shall not be subject to diminution below the amount currently determined in accordance with subsection (1) of this section so long as the insurer has outstanding any liabilities arising out of its business transacted in the United States.
(3) The trust deposit shall be maintained with public depositaries or trust institutions within the United States approved by the commissioner.
[ 1949 c 190 s 4; 1947 c 79 s .05.09; Rem. Supp. 1949 s 45.05.09.]

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

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Frequently Asked Questions About Washington § 48.05.090

What does Revised Code of Washington § 48.05.090 cover?

Section 48.05.090 ("Alien insurers — Assets required — Trust deposit.") 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 § 48.05.090?

A common citation format is "Revised Code of Washington § 48.05.090" (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 § 48.05.090 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.

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