# RCW 48.32A.055: RCW 48.32A.055: Creation of the association

> Washington · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S055

## Section

- **Citation:** RCW 48.32A.055
- **Heading:** RCW 48.32A.055: Creation of the association
- **Jurisdiction:** Washington
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Washington Code / Title 48 / Chapter 32A / Section 055

## Text

(1) There is created a nonprofit unincorporated legal entity to be known as the Washington life and disability insurance guaranty association which is composed of the commissioner ex officio and each member insurer. All member insurers must be and remain members of the association as a condition of their authority to transact the business of insurance, health care service contractor business, or health maintenance organization business in this state. The association shall perform its functions under the plan of operation established and approved under RCW 48.32A.095 and shall exercise its powers through a board of directors established under RCW 48.32A.065 . For purposes of administration and assessment, the association shall maintain two accounts: (a) The life insurance and annuity account which includes the following subaccounts: (i) Life insurance account; (ii) Annuity account which includes annuity contracts owned by a governmental retirement plan, or its trustee, established under section 401, 403(b), or 457 of the United States Internal Revenue Code, but otherwise excludes unallocated annuities; and (iii) Unallocated annuity account, which excludes contracts owned by a governmental retirement benefit plan, or its trustee, established under section 401, 403(b), or 457 of the United States Internal Revenue Code; and (b) The disability insurance account, which includes health benefit plans, disability benefit policies and contracts, and long- term care policies and contracts. (2) The association is under the immediate supervision of the commissioner and is subject to the applicable provisions of the insurance laws of this state. Meetings or records of the association may be opened to the public upon majority vote of the board of directors of the association.

## Nearby sections

- [RCW 48.32A.005 RCW 48.32A.005: Short title.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S005.md)
- [RCW 48.32A.015 RCW 48.32A.015: Purpose.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S015.md)
- [RCW 48.32A.025 RCW 48.32A.025: Coverage and limitations.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S025.md)
- [RCW 48.32A.035 RCW 48.32A.035: Construction.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S035.md)
- [RCW 48.32A.045 RCW 48.32A.045: Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S045.md)
- [RCW 48.32A.055 RCW 48.32A.055: Creation of the association.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S055.md)
- [RCW 48.32A.065 RCW 48.32A.065: Board of directors.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S065.md)
- [RCW 48.32A.075 RCW 48.32A.075: Powers and duties of the association.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S075.md)
- [RCW 48.32A.085 RCW 48.32A.085: Assessments.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S085.md)
- [RCW 48.32A.095 RCW 48.32A.095: Plan of operation.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S095.md)
- [RCW 48.32A.105 RCW 48.32A.105: Duties and powers of the commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S105.md)
- [RCW 48.32A.115 RCW 48.32A.115: Prevention of insolvencies.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S115.md)
- [RCW 48.32A.125 RCW 48.32A.125: Credits for assessments paid—Tax offsets.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S125.md)
- [RCW 48.32A.135 RCW 48.32A.135: Miscellaneous provisions.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S135.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_T48_C32A_S055. Check the current official text before relying on it. Not legal advice.