RCW 48.56.020

Definitions.

Known as the The Insurance Premium Finance Company Act

The act spans §§ 48.56.010 to 48.56.900 (14 sections).

Applied in 3 court decisions — leading case Restaurant Development, Inc. v. Cananwill, Inc. (2003)

Most recently applied in 150 Wash. 2d 674 - Restaurant Development, Inc. v. Cananwill, Inc. (December 2003)

2008 c 217 s 60; 1969 ex.s. c 190 s 2.

As used in this chapter:

(1) "Insurance premium finance company" means a person engaged in the business of entering into insurance premium finance agreements.

(2) "Premium finance agreement" means an agreement by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance producer in payment of premiums on an insurance contract together with a service charge as authorized and limited by this chapter and as security therefor the insurance premium finance company receives an assignment of the unearned premium.

(3) "Licensee" means a premium finance company holding a license issued by the insurance commissioner under this chapter.

Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.