SUBSTITUTE SENATE BILL 6234





                        57th Legislature

                      2002 Regular Session


Passed by the Senate March 11, 2002

  YEAS 41   NAYS 0




President of the Senate


Passed by the House March 6, 2002

  YEAS 93   NAYS 0



I, Tony M. Cook, Secretary of the Senate of the State of Washington, do hereby certify that the attached is  SUBSTITUTE SENATE BILL 6234 as passed by the Senate and the House of Representatives on the dates hereon set forth.




Speaker of the

      House of Representatives









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





Governor of the State of Washington

                   Secretary of State

                  State of Washington



                    SUBSTITUTE SENATE BILL 6234



                      AS AMENDED BY THE HOUSE


             Passed Legislature - 2002 Regular Session


State of Washington   57th Legislature        2002 Regular Session


By Senate Committee on Labor, Commerce & Financial Institutions (originally sponsored by Senators Winsley, Prentice, Regala, Hochstatter, Honeyford, Benton, Rasmussen, Gardner, Deccio, Roach, Morton, Franklin and Hewitt)


READ FIRST TIME 02/04/2002.

Requiring a date certain for the payment of insurance premiums.  

    AN ACT Relating to requiring a date certain for the payment of insurance premiums; and amending RCW 48.18.140.




    Sec. 1.  RCW 48.18.140 and 1989 c 25 s 2 are each amended to read as follows:

    (1) The written instrument, in which a contract of insurance is set forth, is the policy.

    (2) A policy shall specify:

    (a) The names of the parties to the contract.  The insurer's name shall be clearly shown in the policy.

    (b) The subject of the insurance.

    (c) The risk insured against.

    (d) The time at which the insurance thereunder takes effect and the period during which the insurance is to continue.

    (e) A statement of the premium, and if other than life, disability, or title insurance, the premium rate where applicable.

    (f) The conditions pertaining to the insurance.

    (3) If under the contract the exact amount of premiums is determinable only at termination of the contract, a statement of the basis and rates upon which the final premium is to be determined and paid shall be specified in the policy.

    (4)(a) Periodic payment plans for private passenger automobile insurance shall allow a specific day of the month for a due date for payment of premiums.  A late charge may not be required if payment is received within five days of the date payment is due.

    (b) The commissioner shall adopt rules to implement this subsection and shall take no disciplinary action against an insurer until ninety days after the effective date of the rule.

    (5) This section shall not apply to surety insurance contracts.


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