Washington Code 48.62.141 – Insufficient assets — Program requirement
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Every joint self-insurance program covering liability or property risks, excluding multistate programs governed by RCW 48.62.081 and nonprofit risk pools formed under *RCW 48.62.036 and chapter 48.180 RCW, shall provide for the contingent liability of participants in the program if assets of the program are insufficient to cover the program’s liabilities.
NOTES:
*Reviser’s note: RCW 48.62.036 was repealed by 2015 c 109 § 18.
Terms Used In Washington Code 48.62.141
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.