WSR 04-13-153

PREPROPOSAL STATEMENT OF INQUIRY

OFFICE OF

INSURANCE COMMISSIONER

[ Filed June 23, 2004, 8:57 a.m. ]

     Subject of Possible Rule Making: Corporate-owned life insurance, Insurance Commissioner Matter No. R 2004-03.

     Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060 and 48.30.010.

     Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Clarification of insurable interest requirements in the context of corporate-owned life insurance in Washington state.

     Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

     Process for Developing New Rule:      Agency study; and sending written comments by August 9, 2004, to Kacy Scott, P.O. Box 40255, Olympia, WA 98504-0255, e-mail Kacys@oic.wa.gov, fax (360) 586-3109.

     Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Kacy Scott, P.O. Box 40255, Olympia, WA 98504-0255, e-mail Kacys@oic.wa.gov, fax (360) 586-3109.

June 23, 2004

Mike Kreidler

Insurance Commissioner

Legislature Code Reviser 

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