Washington § 48.31.181 - Liquidation proceedings — One or more reciprocal states — Distributions — Special deposit claims — Secured claims.

Full text of Washington Revised Code of Washington § 48.31.181 — Liquidation proceedings — One or more reciprocal states — Distributions — Special deposit claims — Secured claims., with citation guidance and answers to common questions.

§ 48.31.181. Liquidation proceedings — One or more reciprocal states — Distributions — Special deposit claims — Secured claims.

(1) In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state controls as to claims of residents of this and reciprocal states. Claims of residents of reciprocal states shall be given equal priority of payment from general assets regardless of where the assets are located.
(2) The owners of special deposit claims against an insurer for which a liquidator is appointed in this or any other state shall be given priority against the special deposits in accordance with the statutes governing the creation and maintenance of the deposits. If there is a deficiency in a deposit, so that the claims secured by it are not fully discharged from it, the claimants may share in the general assets, but the sharing shall be deferred until general creditors, and also claimants against other special deposits who have received smaller percentages from their respective special deposits, have been paid percentages of their claims equal to the percentage paid from the special deposit.
(3) The owner of a secured claim against an insurer for which a liquidator has been appointed in this or another state may surrender his or her security and file his or her claim as a general creditor, or the claim may be discharged by resort to the security, in which case the deficiency, if any, shall be treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.
[ 1993 c 462 s 73.]

Notes

Severability—Implementation—1993 c 462: See RCW 48.31B.901 and 48.31B.902.

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

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Frequently Asked Questions About Washington § 48.31.181

What does Revised Code of Washington § 48.31.181 cover?

Section 48.31.181 ("Liquidation proceedings — One or more reciprocal states — Distributions — Special deposit claims — Secured claims.") 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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A common citation format is "Revised Code of Washington § 48.31.181" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

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