RCW 48.37.090
178 words·~1 min read·
/wa/title-48/chapter-48-37/48-37-090·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Market conduct oversight personnel shall be qualified by education, experience, and, where applicable, professional designations. The commissioner may supplement the in-house market conduct oversight staff with qualified outside professional assistance if the commissioner determines that the assistance is necessary.
(2)Market conduct oversight personnel have a conflict of interest, either directly or indirectly, if they are affiliated with the management of, and have, within five years of any market conduct action, been employed by, or own a pecuniary interest in the insurer, subject to any examination under this chapter. This section shall not be construed to automatically preclude an individual from being:
(a)A policyholder or claimant under an insurance policy;
(b)A grantor of a mortgage or similar instrument on the individual's residence from a regulated entity, if done under customary terms and in the ordinary course of business;
(c)An investment owner in shares of regulated diversified investment companies; or
(d)A settlor or beneficiary of a "blind trust" into which any otherwise impermissible holdings have been placed.
[ 2007 c 82 s 11 .]