6289 AMH FII GAVI 1

SB 6289 ‑ H COMM AMD ADOPTED 2-19-96

By Committee on Financial Institutions & Insurance

     On page 5, line 5, after "RCW 48.05.340" insert"; however, a foreign or alien society may continue to issue new policies or certificates to members of the society who have an existing policy or certificate in force with the society on June 30, 1997"

EFFECT:  Allows foreign or alien fraternal benefit societies to continue to issue policies to existing policyholders (as of June 30, 1997) even if the societies do not meet the minimum unimpaired surplus requirements.