The director shall promulgate rules to carry out the purposes of RCW 51.14.150: (1) Governing the formation of self-insurance groups for the purposes of this chapter; (2) Governing the organization and operation of the groups to assure their compliance with the requirements of this chapter; (3) Requiring adequate monetary reserves, determined under accepted actuarial practices, to be maintained by each group to assure financial solvency of the group; and (4) Requiring each group to carry adequate reinsurance.
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