H-1308              _______________________________________________

                                                   HOUSE BILL NO. 1726

                        _______________________________________________

State of Washington                               51st Legislature                              1989 Regular Session

By Representatives Zellinsky and P. King

Read first time 2/3/89 and referred to Committee on Financial Institutions & Insurance.

AN ACT Relating to the formulas and mechanisms used to establish rates or premiums; and amending RCW 48.02.060.

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

        Sec. 1.  Section .02.06, chapter 79, Laws of 1947 and RCW 48.02.060 are each amended to read as follows:

          (1) The commissioner shall have the authority expressly conferred upon him by or reasonably implied from the provisions of this code.

          (2) The commissioner shall execute his duties and shall enforce the provisions of this code.

          (3) The commissioner may:

          (a) Make reasonable rules and regulations for effectuating any provision of this code, except those relating to his election, qualifications, or compensation.  No such rules and regulations shall be effective prior to their being filed for public inspection in the commissioner's office.  Notwithstanding this section, the commissioner shall not restrict or prohibit any actuarially sound formula or mechanism used to establish rates or premiums unless specifically directed by the legislature.

          (b) Conduct investigations to determine whether any person has violated any provision of this code.

          (c) Conduct examinations, investigations, hearings, in addition to those specifically provided for, useful and proper for the efficient administration of any provision of this code.