 |
Washington Administrative Code (Last Updated: November 23, 2016) |
 |
Title 284. Insurance Commissioner, Office of |
|
Chapter 284-36. Domestic fraternal mutual property insurers' agents and directors. |
Section 284-36-020. Agent-directors permitted.
Latest version.
- Pursuant to the authority vested in the commissioner under RCW 48.07.130(3) up to one-third (to the nearest whole number) of the members of the board of directors of such an insurer may also be insurance agents of the insurer, and be entitled to receive, and receive from the insurer payment of, commissions or other compensation for insurance business written or serviced by them on the same bases as apply to other agents of the insurer in general. Agent-directors qualified under this provision are excepted from the prohibition contained in RCW 48.07.130(1), to the extent of their activities hereby authorized.[Order R 75-5, § 284-36-020, filed 10/22/75.]
Order R 75-5, § 284-36-020, filed 10/22/75.