Washington Code 48.13.470 – Safeguarding securities — Broker executing a trade — Time limits
Current as of: 2023 | Check for updates
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(1) A broker executing a securities trade pursuant to an order from a domestic insurance company shall send confirmation to the domestic insurance company or the clearing corporation confirming the order has been executed within twenty-four hours after order completion.
Terms Used In Washington Code 48.13.470
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) A broker may not hold in its own account for longer than seventy-two hours any securities bought or sold pursuant to an order from a domestic insurance company.
[ 2000 c 221 § 5.]