§ 48.12.010 “Assets” defined
§ 48.12.020 Nonallowable assets
§ 48.12.030 Liabilities
§ 48.12.040 Unearned premium reserve, property, casualty, and surety insurance
§ 48.12.050 Unearned premium reserve, marine and transportation insurance
§ 48.12.060 Reserve — Disability insurance
§ 48.12.070 Loss records
§ 48.12.080 Increased reserves
§ 48.12.090 Loss reserves — Liability insurance
§ 48.12.100 Unallocated liability loss expense
§ 48.12.110 Schedule of experience
§ 48.12.140 “Loss payments,” “loss expense” defined
§ 48.12.170 Valuation of bonds
§ 48.12.180 Valuation of stocks
§ 48.12.190 Valuation of property
§ 48.12.200 Valuation of purchase money mortgages
§ 48.12.400 Purpose — Intent — Declaration
§ 48.12.405 Domestic ceding insurer — Asset or reduction from liability — Requirements
§ 48.12.410 Assuming insurer — Licensed
§ 48.12.415 Accredited as reinsurer — Assuming insurer — Requirements
§ 48.12.420 Assuming insurer — Domiciled in this state or state with similar statutes
§ 48.12.425 Assuming insurer maintains a trust fund — Payment of valid claims — Requirements
§ 48.12.430 Assuming insurer — Certified as reinsurer — Eligibility requirements — Insurer obligations — Commissioner’s duties
§ 48.12.435 Assuming insurer not meeting certain requirements — Credit restricted
§ 48.12.440 Assuming insurer not licensed, accredited, or certified — No credit — Exceptions
§ 48.12.445 Assuming insurer does not meet certain requirements — Trust agreements — Necessary conditions
§ 48.12.450 Accredited or certified reinsurer does not meet requirements — Commissioner may suspend or revoke
§ 48.12.455 Ceding insurer — Reinsurance program
§ 48.12.460 Reinsurance ceded by domestic insurer to assuming insurer not meeting requirements — When asset or reduction from liability allowed
§ 48.12.462 Reinsurance ceded to an assuming insurer — Reciprocal jurisdictions — Commissioner’s duties
§ 48.12.464 Reinsurance agreements — Commissioner may adopt rules
§ 48.12.465 Definitions — Apply to RCW 48.12.460(3)
§ 48.12.470 Credit for reinsurance — Accounting or financial statement — After December 31, 1996
§ 48.12.475 Assuming alien reinsurer — Registration — Requirements — Duties of commissioner — Costs
§ 48.12.480 Rules
§ 48.12.499 Application of chapter 63, Laws of 2015

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Terms Used In Washington Code > Chapter 48.12 - Assets and liabilities

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Grantor: The person who establishes a trust and places property into it.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.