Watson v. Washington Preferred Life Insurance

This appeal challenges the constitutionality of our “missing shareholder” statute, RCW 23A.08.305, and, alternatively, questions the sufficiency of proof required for the initiation and approval of a proceeding thereunder.

Pursuant to a plan of merger of Washington Preferred Life Insurance Company and Northern National Life Insurance Company, Washington Preferred called a shareholders’ meeting to consider and vote upon the proposed merger. Notice of the meeting was mailed to shareholders of record, stating in part:

A special meeting of the stockholders of Washington Preferred Life Insurance…