Washington Code 48.155.030 – Minimum net worth
Current as of: 2023 | Check for updates
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(1) Except under subsection (3) of this section, before the commissioner issues a license to any person required to obtain a license under RCW 48.155.020, the person seeking to operate a discount plan organization must have a net worth of at least one hundred fifty thousand dollars.
Terms Used In Washington Code 48.155.030
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
(2) At all times, except under subsection (3) of this section, each discount plan organization must maintain a net worth of at least one hundred fifty thousand dollars.
(3) By rule of the commissioner, the amounts in subsections (1) and (2) of this section may be adjusted annually for inflation.
[ 2009 c 175 § 6.]