Washington § 48.09.340 - Impairment of surplus.

Full text of Washington Revised Code of Washington § 48.09.340 — Impairment of surplus., with citation guidance and answers to common questions.

§ 48.09.340. Impairment of surplus.

(1) If the assets of a domestic mutual insurer on the cash premium plan fall below the amount of its liabilities, plus the amount of any surplus required by this code for the kinds of insurance authorized to be transacted, the commissioner shall at once ascertain the amount of the deficiency and serve notice upon the insurer to cure the deficiency within ninety days after such service of notice.
(2) If the deficiency is not made good in cash or in assets eligible under this code for the investment of the insurer's funds, and proof thereof filed with the commissioner within such ninety-day period, the insurer shall be deemed insolvent and shall be proceeded against as authorized by this code.
(3) If the deficiency is not made good the insurer shall not issue or deliver any policy after the expiration of such ninety-day period. Any officer or director who violates or knowingly permits the violating of this provision shall be subject to a fine of from fifty dollars to one thousand dollars for each violation.
[ 1949 c 190 s 14; 1947 c 79 s 09.34; Rem. Supp. 1949 s 45.09.34.]

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

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Frequently Asked Questions About Washington § 48.09.340

What does Revised Code of Washington § 48.09.340 cover?

Section 48.09.340 ("Impairment of surplus.") 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 § 48.09.340?

A common citation format is "Revised Code of Washington § 48.09.340" (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.

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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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