Washington § 48.23.075 - Participation in surplus — Requirements for forms.

Full text of Washington Revised Code of Washington § 48.23.075 — Participation in surplus — Requirements for forms., with citation guidance and answers to common questions.

§ 48.23.075. Participation in surplus — Requirements for forms.

(1) Life insurance and annuity policy forms of the following types shall be defined and designated as participating forms of insurance only if they contain a provision for participation in the insurer's surplus, and shall be defined and designated as nonparticipating forms if they do not contain a provision for participation in the insurer's surplus:
(a) Forms which provide that the premium or consideration at the time of issue and subsequent premiums or considerations will be established by the insurer based on current, or then current, projected assumptions for such factors as interest, mortality, persistency, expense, or other factors, subject to a maximum guaranteed premium or premiums set forth in the policy; and
(b) Forms (except those for variable life insurance and variable annuity plans which are subject to chapter 48.18A RCW) which provide that their premiums or considerations are credited to an account to which interest is credited, and from which the cost of any life insurance or annuity benefits or other benefits or specified expenses are deducted.
(2) The commissioner may by regulation further clarify the definitions and requirements contained in subsection (1) of this section, and may classify any other types of forms as participating or nonparticipating, consistent therewith.
[ 1982 c 181 s 19.]

Notes

Severability—1982 c 181: See note following RCW 48.03.010.

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

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Frequently Asked Questions About Washington § 48.23.075

What does Revised Code of Washington § 48.23.075 cover?

Section 48.23.075 ("Participation in surplus — Requirements for forms.") 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.

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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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