Washington § 48.31.151 Creditor's claim against insurer is secured by other person—Subrogated rights—Agreements concerning distributions.

Washington Statutes

§ 48.31.151 — Creditor's claim against insurer is secured by other person—Subrogated rights—Agreements concerning distributions.

Washington § 48.31.151

Title 48INSURANCE

Ch. 48.31MERGERS, REHABILITATION, LIQUIDATION, SUPERVISION

This text of Washington § 48.31.151 (Creditor's claim against insurer is secured by other person—Subrogated rights—Agreements concerning distributions.) 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 § 48.31.151 (2026).

Text

Whenever a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim, the other person may do so in the creditor's name, and is subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he or she discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person is not entitled to a distribution until the amount paid to the creditor on the undertaking plus the distributions paid on the claim from the insurer's estate to the creditor equals the amount of the entire claim of the creditor. The creditor shall hold any excess received by him or her in trust for the ot

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Whenever a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim, the other person may do so in the creditor's name, and is subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he or she discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person is not entitled to a distribution until the amount paid to the creditor on the undertaking plus the distributions paid on the claim from the insurer's estate to the creditor equals the amount of the entire claim of the creditor. The creditor shall hold any excess received by him or her in trust for the other person. The term "other person" as used in this section does not apply to a guaranty association or foreign guaranty association.

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