RCW 48.13.270
Prohibited investments. (Effective until July 1, 2012.)

An insurer shall not, except with the commissioner's approval in advance, invest in or loan its funds upon the security of, or hold:

     (1) Issued shares of its own capital stock, except for the purpose of mutualization in accordance with RCW 48.08.080;

     (2) Securities issued by any corporation if a majority of its stock having voting power is owned directly or indirectly by or for the benefit of any one or more of the insurer's officers and directors;

     (3) Any investment or loan ineligible under the provisions of RCW 48.13.030;

     (4) Securities issued by any insolvent corporation;

     (5) Obligations contrary to the provisions of RCW 48.13.273; or

     (6) Any investment or security which is found by the commissioner to be designed to evade any prohibition of this code.

[1995 c 84 § 1; 1993 c 92 § 4; 1982 c 218 § 5; 1947 c 79 § .13.27; Rem. Supp. 1947 § 45.13.27.]

NOTES:

     Severability -- 1982 c 218: See note following RCW 48.12.020.