Washington § 48.07.050 Directors—Qualifications—Removal.

Washington Statutes

§ 48.07.050 — Directors—Qualifications—Removal.

Washington § 48.07.050

Title 48INSURANCE

Ch. 48.07DOMESTIC INSURERS—POWERS

This text of Washington § 48.07.050 (Directors—Qualifications—Removal.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 48.07.050 (2026).

Text

Not less than three-fourths of the directors of an incorporated domestic insurer shall be United States or Canadian citizens, and a majority of the board of directors of a mutual life insurer shall be residents of this state. The directors of a domestic insurer or domestic insurance holding corporation may be removed with cause by a vote of a majority of its voting capital stock or members (if a mutual insurer) at a valid meeting and said directors may be removed without cause by a vote of sixty-seven percent of its voting capital stock or members (if a mutual insurer) at a valid meeting.

Severability — 1985 c 364: See note following RCW 48.07.030 .

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Not less than three-fourths of the directors of an incorporated domestic insurer shall be United States or Canadian citizens, and a majority of the board of directors of a mutual life insurer shall be residents of this state. The directors of a domestic insurer or domestic insurance holding corporation may be removed with cause by a vote of a majority of its voting capital stock or members (if a mutual insurer) at a valid meeting and said directors may be removed without cause by a vote of sixty-seven percent of its voting capital stock or members (if a mutual insurer) at a valid meeting.

Severability — 1985 c 364: See note following RCW 48.07.030 .