§ 30.04.025. 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 30.22.040(12), 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 that is equal to, or less than, the maximum rate or amount of interest, discount or other points, finance charges, or other similar charges that national banks located in any other state or states may charge, take, receive, or reserve, under 12 U.S.C. Sec. 85, on loans or other extensions of credit to residents of this state. However, this section does not authorize any subsidiary of a bank, of a trust company, of a mutual savings bank, of a savings and loan association, or of a credit union to charge, take, receive, or reserve interest, discount or other points, finance charges, or other similar charges on any loan or other extension of credit, unless the subsidiary is itself a bank, trust company, mutual savings bank, savings and loan association, or credit union.
[2003 c 24 § 3.]
Sections: Previous 30.04.010 30.04.020 30.04.025 30.04.030 30.04.045 30.04.050 30.04.060 30.04.070 30.04.075 30.04.111 30.04.112 30.04.120 30.04.125 30.04.127 30.04.129 NextLast modified: April 7, 2009