Washington § 48.195.005 - Purpose — Application.

Full text of Washington Revised Code of Washington § 48.195.005 — Purpose — Application., with citation guidance and answers to common questions.

§ 48.195.005. Purpose — Application.

(1) The purpose of this chapter is to:
(a) Provide the insurance commissioner a summary of an insurer or insurance group's corporate governance structure, policies, and practices to permit the commissioner to gain and maintain an understanding of the insurer's corporate governance framework;
(b) Outline the requirements for completing a corporate governance annual disclosure with the commissioner; and
(c) Provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain confidential and sensitive information related to an insurer or insurance group's internal operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.
(2) This chapter does not prescribe or impose corporate governance standards and internal procedures beyond that which is required under applicable corporate law. This chapter does not limit the commissioner's authority, or the rights or obligations of third parties, under chapter 48.03 RCW.
(3) This chapter applies to all insurers domiciled in this state.
[ 2018 c 30 s 1.]

Notes

Effective date—2018 c 30: "(1) The first filing of the corporate governance annual disclosure is 2019.
(2) This act takes effect January 1, 2019." [ 2018 c 30 s 11.]

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Frequently Asked Questions About Washington § 48.195.005

What does Revised Code of Washington § 48.195.005 cover?

Section 48.195.005 ("Purpose — Application.") 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 § 48.195.005?

A common citation format is "Revised Code of Washington § 48.195.005" (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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Sources & Verification

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