WAC 284-201-220

(1) To maintain registration, a registered eligible captive insurer must renew certificates of registration annually by July 31st. If an eligible captive insurer fails to properly renew their certificate of registration, then its registration will expire at the end of its registration period.

(2) The renewal process will require that a registered eligible captive insurer continue to meet eligibility requirements in accordance with RCW 48.201.020 and 48.201.030, and pay a renewal fee.

(3) For renewal, the commissioner will charge an annual renewal fee not to exceed $2,500.00. The amount of the renewal fee will be published on the commissioner's website and must be paid by July 31st.

(4) The renewal period will be from August 1st through July 31st.

(5) In order to obtain a timely annual renewal, a registered eligible captive insurer should file the renewal application no later than June 1st. Otherwise, OIC may not approve the eligible captive insurer's renewal before the July 31st expiration date and the eligible captive insurer's registration will expire. If an eligible captive insurer's registration expires, it will then need to complete and file a new application and pay the fee for a new registration.