Washington § 48.06.180 - Subsequent financing.

Full text of Washington Revised Code of Washington § 48.06.180 — Subsequent financing., with citation guidance and answers to common questions.

§ 48.06.180. Subsequent financing.

(1) No domestic insurer, or insurance holding corporation, or stock corporation for financing operations of a mutual insurer, or attorney-in-fact corporation of a reciprocal insurer, after
(a) it has received a certificate of authority, if an insurer, or
(b) it has completed its initial organization and financing if a corporation other than an insurer, shall solicit or receive funds in exchange for any new issue of its corporate securities, other than through a stock dividend, until it has applied to the commissioner for, and has been granted, a solicitation permit.
(2) The commissioner shall issue such a permit unless he or she finds that:
(a) The funds proposed to be secured are excessive in amount for the purpose intended, or
(b) the proposed securities or the manner of their distribution are inequitable, or
(c) the issuance of the securities would jeopardize the interests of policyholders or the holders of other securities of the insurer or corporation.
(3) Any such solicitation permit granted by the commissioner shall be for such duration, and shall contain such terms and be issued upon such conditions as the commissioner may reasonably specify or require.
[ 2009 c 549 s 7025; 1949 c 190 s 6; 1947 c 79 s .06.18; Rem. Supp. 1949 s 45.06.18.]

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Frequently Asked Questions About Washington § 48.06.180

What does Revised Code of Washington § 48.06.180 cover?

Section 48.06.180 ("Subsequent financing.") 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 § 48.06.180?

A common citation format is "Revised Code of Washington § 48.06.180" (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 § 48.06.180 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.