SB 5159 - DIGEST

      Creates a public nonprofit corporation to be known as the Washington automobile insurance corporation.

      Requires the corporation to operate a plan of universal compulsory automobile insurance.

      Specifies the powers and duties of the corporation.

      Requires the directors of the corporation to account for income and expenditures.

      Provides for classification of motor vehicles and development of basic premiums for coverage.

      Requires insurance as a condition precedent to issuance of a vehicle license.

      Requires annual reports to the legislature.

      Provides for inspection of the corporation's books by the state auditor.

      Makes an appropriation of three hundred million dollars to carry out the purposes of the act.

      Requires repayment of the appropriation by June 1, 2000.