RCW 48.07.050
145 words·~1 min read·
/wa/title-48/chapter-48-07/48-07-050·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not less than three-fourths of the directors of an incorporated domestic insurer shall be United States or Canadian citizens, and a majority of the board of directors of a mutual life insurer shall be residents of this state. The directors of a domestic insurer or domestic insurance holding corporation may be removed with cause by a vote of a majority of its voting capital stock or members (if a mutual insurer) at a valid meeting and said directors may be removed without cause by a vote of sixty-seven percent of its voting capital stock or members (if a mutual insurer) at a valid meeting.
[ 1989 c 24 s 1 ; 1985 c 364 s 3 ; 1957 c 193 s 21 ; 1947 c 79 s .07.05; Rem. Supp. 1947 s 45.07.05.]
Notes:
Severability — 1985 c 364: See note following RCW 48.07.030 .