H-0931.1 _______________________________________________
HOUSE BILL 1729
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State of Washington 57th Legislature 2001 Regular Session
By Representatives Benson, Hatfield, McIntire, Cairnes, Roach, Simpson and Keiser
Read first time 02/01/2001. Referred to Committee on Financial Institutions & Insurance.
AN ACT Relating to licensing surplus line brokers; and adding a new section to chapter 48.15 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. A new section is added to chapter 48.15 RCW to read as follows:
(1) The commissioner may license as a surplus line broker a person who is otherwise qualified under this code but who is not a resident of this state, if by the laws of the state or province of his or her residence or domicile a similar privilege is extended to residents of this state.
(2) A person under subsection (1) of this section must meet the same qualifications, other than residency, as any other person seeking to be licensed as a surplus line broker under this chapter. A person granted a nonresident surplus line broker's license must have all the same responsibilities as any other surplus line broker and is subject to the (a) commissioner's supervision as though resident in this state and (b) rules adopted under this chapter.
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