RCW 48.13.350
Record of investments. (Effective until July
1, 2012.)
(1) As to each investment or loan of the funds of a
domestic insurer a written record in permanent form showing the
authorization thereof shall be made and signed by an officer of
the insurer or by the chair of such committee authorizing the
investment or loan.
(2) As to each such investment or loan the insurer's records
shall contain:
(a) In the case of loans: The name of the borrower; the
location and legal description of the property; a physical
description, and the appraised value of the security; the amount
of the loan, rate of interest and terms of repayment.
(b) In the case of securities: The name of the obligor; a
description of the security and the record of earnings; the
amount invested, the rate of interest or dividend, the maturity
and yield based upon the purchase price.
(c) In the case of real estate: The location and legal
description of the property; a physical description and the
appraised value; the purchase price and terms.
(d) In the case of all investments:
(i) The amount of expenses and commissions if any incurred
on account of any investment or loan and by whom and to whom
payable if not covered by contracts with mortgage loan
representatives or correspondents which are part of the insurer's
records.
(ii) The name of any officer or director of the insurer
having any direct, indirect, or contingent interest in the
securities or loan representing the investment, or in the assets
of the person in whose behalf the investment or loan is made, and
the nature of such interest.
[2009 c 549 § 7055; 1949 c 190 § 20; 1947 c 79 § .13.35; Rem. Supp. 1949 § 45.13.35.]
RCW 48.13.350
Written record of investments -- Contents.
(Effective July 1, 2012.)
A written record of each investment or
loan of the funds of a domestic insurer shall contain:
(1) In the case of loans: The name of the borrower; the
location and legal description of the property; a physical
description, and the appraised value of the security; the amount
of the loan, rate of interest and terms of repayment.
(2) In the case of securities: The name of the obligor; a
description of the security and the record of earnings; the
amount invested, the rate of interest or dividend, the maturity
and yield based upon the purchase price.
(3) In the case of real estate: The location and legal
description of the property; a physical description and the
appraised value; the purchase price and terms.
(4) In the case of all investments:
(a) The amount of expenses and commissions if any incurred
on account of any investment or loan and by whom and to whom
payable if not covered by contracts with mortgage loan
representatives or correspondents which are part of the insurer's
records.
(b) The name of any officer or director of the insurer
having any direct, indirect, or contingent interest in the
securities or loan representing the investment, or in the assets
of the person in whose behalf the investment or loan is made, and
the nature of such interest.
[2011 c 188 § 20; 2009 c 549 § 7055; 1949 c 190 § 20; 1947 c 79 § .13.35; Rem. Supp. 1949 §45.13.35 .]