Washington Code 48.36A.400 – Fraternal mutual life insurers
Current as of: 2023 | Check for updates
|
Other versions
(1) A mutual life insurer which is affiliated with and insures exclusively members of a specified fraternal society, which society conducts its business and secures its membership on the lodge system, having ritualistic work and ceremonies, is herein designated as a fraternal mutual life insurer.
Terms Used In Washington Code 48.36A.400
- Lodge: means subordinate member units of the society, known as camps, courts, councils, branches, or by any other designation. See Washington Code 48.36A.040
- Society: means fraternal benefit society, unless otherwise indicated. See Washington Code 48.36A.040
(2) Such an insurer shall be subject to the applicable provisions of this title governing mutual life insurers except only as to the provisions relative to annual meeting, taxes, fees, and licenses. Such an insurer shall pay for its annual license and filing its annual statement, the sum of ten dollars. Such an insurer shall pay the expense of examinations of it by the commissioner, upon statement furnished by the commissioner.
[ 1987 c 366 § 40.]