CERTIFICATION OF ENROLLMENT

 

                   SUBSTITUTE HOUSE BILL 2746

 

 

 

 

 

 

 

                        54th Legislature

                      1996 Regular Session

Passed by the House February 6, 1996

  Yeas 97   Nays 0

 

 

 

 

Speaker of the

      House of Representatives

 

Passed by the Senate February 27, 1996

  Yeas 47   Nays 0

             CERTIFICATE

 

I, Timothy A. Martin, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is SUBSTITUTE HOUSE BILL 2746 as passed by the House of Representatives and the Senate on the dates hereon set forth.

 

 

 

 

President of the Senate

 

                          Chief Clerk

 

 

Approved Place Style On Codes above, and Style Off Codes below.

                                FILED

          

 

 

Governor of the State of Washington

                   Secretary of State

                  State of Washington

          _______________________________________________

 

                    SUBSTITUTE HOUSE BILL 2746

          _______________________________________________

 

             Passed Legislature - 1996 Regular Session

 

State of Washington      54th Legislature     1996 Regular Session

 

By House Committee on Financial Institutions & Insurance (originally sponsored by Representatives L. Thomas, Sheldon, Wolfe and Benton)

 

Read first time 02/02/96.

 

Changing the rates or terms of an insurance policy.


    AN ACT Relating to unfair practices when the rates or terms of an insurance policy are being changed; and amending RCW 48.18.230.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

 

    Sec. 1.  RCW 48.18.230 and 1947 c 79 s .18.23 are each amended to read as follows:

    (1) A "binder" is used to bind insurance temporarily pending the issuance of the policy.  No binder shall be valid beyond the issuance of the policy as to which it was given, or beyond ninety days from its effective date, whichever period is the shorter.

    (2) If the policy has not been issued a binder may be extended or renewed beyond such ninety days upon the commissioner's written approval, or in accordance with such rules and regulations relative thereto as the commissioner may promulgate.

    (3) Where the premium used in the binder differs from the actual policy premium by less than ten dollars, the insurer shall not be required to notify the insured and may use the actual policy premium.

 

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