Washington § 48.31.050 - Liquidation — Grounds.

Full text of Washington Revised Code of Washington § 48.31.050 — Liquidation — Grounds., with citation guidance and answers to common questions.

§ 48.31.050. Liquidation — Grounds.

The commissioner may apply for an order directing him or her to liquidate the business of a domestic insurer or of the United States branch of an alien insurer having trusteed assets in this state, regardless of whether or not there has been a prior order directing him or her to rehabilitate such insurer, upon any of the grounds specified in RCW 48.31.030 or upon any one or more of the following grounds: That the insurer
(1) Has ceased transacting business for a period of one year; or
(2) Is an insolvent insurer and has commenced voluntary liquidation or dissolution, or attempts to commence or prosecute any action or proceeding to liquidate its business or affairs, or to dissolve its corporate charter, or to procure the appointment of a receiver, trustee, custodian, or sequestrator under any law except this code; or
(3) Has not organized or completed its organization and obtained a certificate of authority as an insurer prior to the expiration or revocation of its solicitation permit.
[ 2009 c 549 s 7123; 1947 c 79 s .31.05; Rem. Supp. 1947 s 45.31.05.]

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Frequently Asked Questions About Washington § 48.31.050

What does Revised Code of Washington § 48.31.050 cover?

Section 48.31.050 ("Liquidation — Grounds.") 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 § 48.31.050?

A common citation format is "Revised Code of Washington § 48.31.050" (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 § 48.31.050 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.