30A.04.002 – Short title.
RCW 30A.04.002 Short title. This title may be known and cited as the Washington commercial bank act. [ 2014 c 37 § 101.]
30A.04.005 – Legislative declarations.
RCW 30A.04.005 Legislative declarations. The legislature declares that: (1) Banking institutions and trust companies provide essential and valuable fiduciary management services to consumers, businesses, and nonprofit organizations in the state of Washington; (2) There is a critical public need to encourage and promote the revitalization and growth of the state’s financial sector and realize its […]
30A.04.007 – Notice—Use of internet—Rules.
RCW 30A.04.007 Notice—Use of internet—Rules. (1) Notwithstanding any provisions of this title, wherever notice by publication is required by a bank, such notice may be undertaken by internet publication upon terms and conditions that the director may adopt by rule. (2) Notice to shareholders required under this title may be undertaken by electronic means in […]
30A.04.010 – Definitions.
RCW 30A.04.010 Definitions. Unless the context clearly requires otherwise, the definitions in this section apply throughout this title. (1) “Adequately capitalized,” “critically undercapitalized,” “significantly undercapitalized,” “undercapitalized,” and “well-capitalized,” respectively, have meanings consistent with the definitions these same terms have under the prompt corrective action provisions of the federal deposit insurance act, 12 U.S.C. Sec. 1831o, […]
30A.04.017 – Director’s subpoenas—Unauthorized banking activity.
RCW 30A.04.017 Director’s subpoenas—Unauthorized banking activity. (1) The director or authorized assistants may apply for and obtain a superior court order approving and authorizing a subpoena in advance of its issuance. The application may be made in the county where the subpoenaed person resides or is found, or the county where the subpoenaed documents, records, […]
30A.04.020 – Use of words indicating bank or trust company—Penalty.
RCW 30A.04.020 Use of words indicating bank or trust company—Penalty. (1) The name of every bank shall contain the word “bank” and the name of every trust company shall contain the word “trust,” or the word “bank.” Except as provided in RCW 33.08.030 or as otherwise authorized by this section or approved by the director, […]
30A.04.025 – Financial institutions—Loan charges—Out-of-state national banks.
RCW 30A.04.025 Financial institutions—Loan charges—Out-of-state national banks. Notwithstanding any restrictions, limitations, requirements, or other provisions of law, a financial institution, as defined in RCW 30A.22.040(8), may charge, take, receive, or reserve interest, discount or other points, finance charges, or other similar charges on any loan or other extension of credit, at a rate or amount […]
30A.04.030 – Rules—Administration and interpretation of title.
RCW 30A.04.030 Rules—Administration and interpretation of title. (1) The director shall have power to adopt uniform rules in accordance with the administrative procedure act, chapter 34.05 RCW, to govern examinations and reports of banks, trust companies, and holding companies and the form in which they shall report their assets, liabilities, and reserves, charge off bad […]
30A.04.045 – Director—Powers under chapter 19.144 RCW.
RCW 30A.04.045 Director—Powers under chapter 19.144 RCW. The director or the director’s designee may take such action as provided for in this title to enforce, investigate, or examine persons covered by chapter 19.144 RCW. [ 2008 c 108 § 15. Formerly RCW 30.04.045.] NOTES: Findings—2008 c 108: See RCW 19.144.005.
30A.04.050 – Duty to comply—Violations—Penalty.
RCW 30A.04.050 Duty to comply—Violations—Penalty. (1) Each bank and its directors, officers, employees, and agents, shall comply with: (a) This title and Title 30B RCW as applicable to each of them; (b) The rules adopted by the department with respect to banks and trust companies; (c) Any lawful direction or order of the director; (d) […]
30A.04.060 – Examinations directed—Cooperative agreements and actions.
RCW 30A.04.060 Examinations directed—Cooperative agreements and actions. (1) The director, assistant director, program manager, or an examiner shall visit each bank at least once every eighteen months, and oftener if necessary, or as otherwise required by the rules and interpretations of applicable federal banking examination authorities, for the purpose of making a full investigation into […]
30A.04.070 – Costs of examination, filing, and other service fees—Nondirect expenses.
RCW 30A.04.070 Costs of examination, filing, and other service fees—Nondirect expenses. (1) In order to cover the costs of the operation of the department’s division of banks and to establish and maintain a reasonable reserve for the division of banks, the department may charge and collect the costs of examination, filing and other service fees, […]
30A.04.075 – Examination reports and information—Confidentiality—Disclosure—Penalty.
RCW 30A.04.075 Examination reports and information—Confidentiality—Disclosure—Penalty. (1) All examination reports and all information obtained by the director and the director’s staff in conducting examinations of banks, trust companies, or alien banks, and information obtained by the director and the director’s staff from other state or federal bank regulatory authorities with whom the director has entered […]
30A.04.111 – Limit on loans and extensions of credit to one person—Exceptions—Definitions—Rules—Nonconforming loans and extensions of credit.
RCW 30A.04.111 Limit on loans and extensions of credit to one person—Exceptions—Definitions—Rules—Nonconforming loans and extensions of credit. (1) The total loans and extensions of credit by a bank to a person outstanding at any one time shall not exceed twenty percent of the capital and surplus of such bank. A loan or extension of credit […]
30A.04.112 – “Loans or obligations” and “liabilities” limited for purposes of RCW 30.04.111.
RCW 30A.04.112 “Loans or obligations” and “liabilities” limited for purposes of RCW 30.04.111. Sales of federal reserve funds with a maturity of one business day or under a continuing contract are not “loans or obligations” or “liabilities” for the purposes of the loan limits established by *RCW 30.04.111. However, sales of federal reserve funds with […]
30A.04.120 – Loans on own stock prohibited—Shares of other corporations.
RCW 30A.04.120 Loans on own stock prohibited—Shares of other corporations. The shares of stock of every bank shall be deemed personal property. No such corporation shall hereafter make any loan or discount on the security of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase […]
30A.04.125 – Investment in corporations—Authorized businesses.
RCW 30A.04.125 Investment in corporations—Authorized businesses. Unless otherwise prohibited by law, any state bank may invest in the capital stock of corporations organized to conduct the following businesses: (1) A safe deposit business: PROVIDED, That the amount of investment does not exceed fifteen percent of its capital stock and surplus, without the approval of the […]
30A.04.127 – Formation, incorporation, or investment in corporations or other entities authorized—Approval—Exception.
RCW 30A.04.127 Formation, incorporation, or investment in corporations or other entities authorized—Approval—Exception. (1) A bank, alone or in conjunction with other entities, may form, incorporate, or invest in corporations or other entities, whether or not such other corporation or entity is related to the bank’s business. The aggregate amount of funds invested, or used in […]
30A.04.129 – Investment in obligations issued or guaranteed by multilateral development bank.
RCW 30A.04.129 Investment in obligations issued or guaranteed by multilateral development bank. Any bank may invest in obligations issued or guaranteed by any multilateral development bank in which the United States government formally participates. Such investment in any one multilateral development bank shall not exceed five percent of the bank’s paid-in capital and surplus. [ […]
30A.04.130 – Defaulted debts, judgments to be charged off—Valuation of assets.
RCW 30A.04.130 Defaulted debts, judgments to be charged off—Valuation of assets. Based on examinations directed pursuant to RCW 30A.04.060 or other appropriate information, all assets or portion thereof that the director may have required a bank to charge off shall be charged off. No bank shall enter or at any time carry on its books […]