Washington § 48.35.120 Trusteed assets—Examination—Commissioner's approval of assignment or transfer.

Washington Statutes

§ 48.35.120 — Trusteed assets—Examination—Commissioner's approval of assignment or transfer.

Washington § 48.35.120

Title 48INSURANCE

Ch. 48.35ALIEN INSURERS

This text of Washington § 48.35.120 (Trusteed assets—Examination—Commissioner's approval of assignment or transfer.) 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 § 48.35.120 (2026).

Text

(1)The commissioner may examine trusteed assets of any insurer at any time in accordance with the same conditions and procedures governing the examination of insurers provided in chapter 48.03 RCW.

(2)The depositing insurer shall not assign or transfer, voluntarily, involuntarily, or by operation of law, all or a part of its interest in the trusteed assets without the prior written approval of the commissioner, and a transfer or assignment occurring without approval is void. The assignee or transferee of the trusteed assets shall irrevocably and automatically assume all of the obligations and liabilities of the assignor or transferor.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The commissioner may examine trusteed assets of any insurer at any time in accordance with the same conditions and procedures governing the examination of insurers provided in chapter 48.03 RCW.

(2) The depositing insurer shall not assign or transfer, voluntarily, involuntarily, or by operation of law, all or a part of its interest in the trusteed assets without the prior written approval of the commissioner, and a transfer or assignment occurring without approval is void. The assignee or transferee of the trusteed assets shall irrevocably and automatically assume all of the obligations and liabilities of the assignor or transferor.