Wash. Admin. Code § 284-17-467

Current through Register Vol. 24-20, October 15, 2024

Section 284-17-467 - Consequences - Insurance producers not eligible for appointment by the insurer

If an insurance producer solicits insurance on behalf of an insurer, as authorized by RCW 48.17.160, but it is later determined that the insurance producer was not eligible for appointment by the insurer:

(1) The insurance contract will be effective;

(2) The insurance producer must not receive compensation for any insurance product sold by the insurance producer; and

(3) The insurance producer and the insurer may be subject to disciplinary action under RCW 48.17.530.

Wash. Admin. Code § 284-17-467

Statutory Authority: RCW 48.02.060, 48.17.005. 09-02-073 (Matter No. R 2008-06), § 284-17-467, filed 1/6/09, effective 7/1/09. Statutory Authority: RCW 48.02.060. 08-17-063 (Matter No. R 2008-03), § 284-17-467, filed 8/18/08, effective 9/18/08. Statutory Authority: RCW 48.02.060(3)(a) and 48.17.150(1)(g)(ii). 06-12-025 (Matter No. R 2005-06), § 284-17-467, filed 5/30/06, effective 6/30/06.