Washington § 48.17.480 - Reporting and accounting for premiums.

Full text of Washington Revised Code of Washington § 48.17.480 — Reporting and accounting for premiums., with citation guidance and answers to common questions.

§ 48.17.480. Reporting and accounting for premiums.

(1) An insurance producer, title insurance agent, or any other representative of an insurer involved in the procuring or issuance of an insurance contract shall report to the insurer the exact amount of consideration charged as premium for such contract, and such amount shall likewise be shown in the contract and in the records of the insurance producer, title insurance agent, or other representative. Each willful violation of this provision is a misdemeanor.
(2) All funds representing premiums or return premiums received by an insurance producer or title insurance agent shall be so received in the insurance producer's or title insurance agent's fiduciary capacity, and shall be promptly accounted for and paid to the insured, insurer, title insurance agent, or insurance producer as entitled thereto.
(3) Any person licensed under this chapter who receives funds which belong to or should be paid to another person as a result of or in connection with an insurance transaction is deemed to have received the funds in a fiduciary capacity. The licensee shall promptly account for and pay the funds to the person entitled to the funds.
(4) Any insurance producer, title insurance agent, adjuster, or other person licensed under this chapter who, not being lawfully entitled thereto, diverts or appropriates funds received in a fiduciary capacity or any portion thereof to his or her own use, is guilty of theft under chapter 9A.56 RCW.
[ 2007 c 117 s 26; 2003 c 53 s 269; 1988 c 248 s 12; 1947 c 79 s .17.48; Rem. Supp. 1947 s 45.17.48.]

Notes

Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.

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

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Frequently Asked Questions About Washington § 48.17.480

What does Revised Code of Washington § 48.17.480 cover?

Section 48.17.480 ("Reporting and accounting for premiums.") 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 § 48.17.480?

A common citation format is "Revised Code of Washington § 48.17.480" (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 § 48.17.480 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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