2005 Washington Revised Code RCW 48.13.470: Safeguarding securities — Broker executing a trade — Time limits.
(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.]
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