Washington § 48.12.420 - Assuming insurer — Domiciled in this state or state with similar statutes.

Full text of Washington Revised Code of Washington § 48.12.420 — Assuming insurer — Domiciled in this state or state with similar statutes., with citation guidance and answers to common questions.

§ 48.12.420. Assuming insurer — Domiciled in this state or state with similar statutes.

(1) Credit is allowed when the reinsurance is ceded to an assuming insurer that is domiciled in, or in the case of a United States branch of an alien assuming insurer is entered through, a state that employs standards regarding credit for reinsurance substantially similar to those applicable under this statute and the assuming insurer or United States branch of an alien assuming insurer:
(a) Maintains a surplus as regards policyholders in an amount not less than twenty million dollars; and
(b) Submits to the authority of this state to examine its books and records.
(2) Subsection (1)(a) of this section does not apply to reinsurance ceded and assumed pursuant to pooling arrangements among insurers in the same holding company system.
[ 2015 c 63 s 5.]

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

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Frequently Asked Questions About Washington § 48.12.420

What does Revised Code of Washington § 48.12.420 cover?

Section 48.12.420 ("Assuming insurer — Domiciled in this state or state with similar statutes.") 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 § 48.12.420?

A common citation format is "Revised Code of Washington § 48.12.420" (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 § 48.12.420 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.