Washington § 48.08.030 - Dividends to stockholders.

Full text of Washington Revised Code of Washington § 48.08.030 — Dividends to stockholders., with citation guidance and answers to common questions.

§ 48.08.030. Dividends to stockholders.

(1) No domestic stock insurer shall pay any cash dividend to stockholders except out of earned surplus. For the purpose of this section, "earned surplus" means that part of its available surplus funds which is derived from any realized net profits on its business, and does not include unrealized capital gains or reevaluation of assets.
(2) Such an insurer may pay a stock dividend out of any available surplus funds.
(3) Payment of any dividend to stockholders of a domestic stock insurer shall also be subject to all the limitations and requirements governing the payment of dividends by other private corporations.
(4) No dividend shall be declared or paid which would reduce the insurer's surplus to an amount less than the minimum required for the kinds of insurance thereafter to be transacted.
(5) For the purposes of this chapter "surplus funds" means the excess of the insurer's assets over its liabilities, including its capital stock as a liability.
(6) Available surplus means the excess over the minimum amount of surplus required for the kinds of insurance the insurer is authorized to transact.
[ 1993 c 462 s 52; 1947 c 79 s .08.03; Rem. Supp. 1947 s 45.08.03.]

Notes

Severability—Implementation—1993 c 462: See RCW 48.31B.901 and 48.31B.902.

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Frequently Asked Questions About Washington § 48.08.030

What does Revised Code of Washington § 48.08.030 cover?

Section 48.08.030 ("Dividends to stockholders.") 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 § 48.08.030?

A common citation format is "Revised Code of Washington § 48.08.030" (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 § 48.08.030 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

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