Washington § 48.09.460 - Foreign mutual insurers — Reorganization.

Full text of Washington Revised Code of Washington § 48.09.460 — Foreign mutual insurers — Reorganization., with citation guidance and answers to common questions.

§ 48.09.460. Foreign mutual insurers — Reorganization.

(1) A foreign mutual insurer organized under the laws of any other state, that, if a domestic corporation, would be organized under RCW 48.09.010, may reorganize by merging its policyholders' membership interests into an existing domestic mutual holding company in accordance with the requirements of any other law or regulation that applies to the foreign mutual insurer. The reorganization shall continue the corporate existence of the converting mutual insurer as a foreign stock insurance company subsidiary of the existing domestic mutual holding company or as a foreign stock insurance company subsidiary of an intermediate stock holding company. The reorganizing foreign mutual insurer may remain a foreign insurer after the restructuring and may be admitted to do business in this state if it meets the applicable requirements of this title. A foreign mutual insurer that is a party to the reorganization may at the same time redomesticate to this state by complying with the applicable requirements of this state and the foreign mutual insurer's state of domicile.
(2) For the purposes of this section, "existing domestic mutual holding company" means a mutual holding company formed under this chapter.
[ 2023 c 20 s 7.]

Related Washington Legal Topics

Frequently Asked Questions About Washington § 48.09.460

What does Revised Code of Washington § 48.09.460 cover?

Section 48.09.460 ("Foreign mutual insurers — Reorganization.") 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 § 48.09.460?

A common citation format is "Revised Code of Washington § 48.09.460" (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 § 48.09.460 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.