Washington Code 48.180.010 – Definitions
Current as of: 2023 | Check for updates
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
Terms Used In Washington Code 48.180.010
- Contract: A legal written agreement that becomes binding when signed.
- 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.
(1) “Nonprofit corporation” or “corporation” has the same meaning as defined in RCW 24.03A.010.
(2) “Property and liability risks” includes the risk of property damage or loss sustained by a nonprofit corporation and the risk of claims arising from the tortious or negligent conduct or any error or omission of the entity, its officers, employees, agents, or volunteers as a result of a claim that may be made against the entity.
(3) “Self-insurance” means a formal program of advance funding and management of entity financial exposure to a risk of loss that is not transferred through the purchase of an insurance policy or contract.
(4) “State risk manager” means the risk manager of the office of risk management within the department of enterprise services.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.