Revised Code of Washington (RCW) (Last Updated: August 9, 2016)

Section 48.13.470. Safeguarding securities—Broker executing a trade—Time limits.

Latest version.

(1) A broker executing a securities trade pursuant to an order from a domestic insurance company shall send confirmation to the domestic insurance company or the clearing corporation confirming the order has been executed within twenty-four hours after order completion.

(2) A broker may not hold in its own account for longer than seventy-two hours any securities bought or sold pursuant to an order from a domestic insurance company.

[ 2000 c 221 § 5.]

2000 c 221 § 5.

                    
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