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SUBSTITUTE SENATE BILL NO. 3249
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AS AMENDED BY THE HOUSE
Passed Legislature - 1985 Reg. - Governor Vetoed
State of Washington 49th Legislature 1985 Regular Session
By Senate Committee on Financial Institutions (originally sponsored by Senators Kreidler, Moore and Rasmussen)
Read first time 2/5/85.
AN ACT Relating to group life insurance; and adding a new section to chapter 48.24 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. A new section is added to chapter 48.24 RCW to read as follows:
The lives of a group of individuals may be insured under a group policy issued by an insurer possessing a certificate of authority to do business in Washington to a state association composed of members of the Washington national guard to insure not less than twenty-five members of the Washington national guard. Such policy shall be for the benefit of beneficiaries as designated by the individuals so insured, and the premium thereon may be paid by such members. Insurance issued on the life of a member's spouse shall not exceed the amount issued on the life of the member under such policy. The state association may establish a level rate of premium for all members. For purposes of this section, "members of the Washington national guard" means current and retired members of the Washington national guard or reserves.