{"data":{"id":"us-wa/rcw-48.90.050","jurisdiction":"us-wa","citation":"RCW 48.90.050","heading":"Elements of plan.","body":"Any association desiring to establish a plan pursuant to this chapter shall prepare and submit to the commissioner a proposed plan of organization and operation, including the following elements:\n(1) A statement that the association meets the requirements of this chapter.\n(2) A financial plan specifying:\n(a) The coverage to be offered by the self-insurance pool, setting forth a deductible level and maximum level of claims that the pool will self-insure;\n(b) The amount of cash reserves to be maintained for the payment of claims;\n(c) The amount of insurance, if any, to be purchased to cover claims in excess of the amount of claims to be satisfied directly from the association's own cash reserves;\n(d) The amount of stop-loss coverage to be purchased in the event the joint self-insurance pool's resources are exhausted in a given fiscal period;\n(e) A mechanism for determining and assessing the contingent liability of subscribers in the event the assets in the contributing trust fund are at any time insufficient to cover liabilities; and\n(f) Certification that all subscribers in the pool are apprised of the limitations of coverage to be provided.\n(3) A plan of management setting forth:\n(a) The means of fulfilling the requirements in RCW 48.90.050(2);\n(b) The names and addresses of board members and their terms of office, and a copy of the corporate bylaws defining the method of election of board members;\n(c) The frequency of studies or other evaluation to establish the periodic contribution rates for each of the subscribers;\n(d) The responsibilities of subscribers, including procedures for entry into and withdrawal from the pool, the allocation of contingent liabilities and a procedure for immediate assessments if the contributing trust fund falls below the level set in RCW 48.90.050(2)(b);\n(e) A plan for monitoring risks and disseminating information with respect to their reduction or elimination;\n(f) A contract with a professional insurance management corporation, for the management and operation of any joint self-insurance pool established by the association; and\n(g) The corporate address of the association.","path":["Title 48","Chapter 48.90"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=48.90.050","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T03:17:06Z","sha256":"f3232aad017bf0de2da378c482b513388ef672518cfeb162d2bb53e268482605","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-48.90.040","next":"us-wa/rcw-48.90.060"},"notice":"GroundRules: Original legal text. Not legal advice."}