Revised Code of Washington - RCW Title 30 Banks And Trust Companies - Chapter 30.04 General Provisions

30.04.010 Definitions
Unless the context clearly requires otherwise, the definitions in this section apply throughout this title. (1) "Banking" shall include the soliciting, receiving or accepting of ...

30.04.020 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 ...

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, ...

30.04.030 Rules -- Administration and interpretation of title
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 ...

30.04.045 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 ...

30.04.050 Violations -- Penalty
Every bank and trust company and their officers, employees, and agents shall comply with the rules and regulations. The violation of any rule or regulation ...

30.04.060 Examinations directed -- Cooperative agreements and actions
(1) The director, assistant director, or an examiner shall visit each bank and each trust company at least once every eighteen months, and oftener if ...

30.04.070 Cost of examination
The director shall collect from each bank, mutual savings bank, trust company or industrial loan company for each examination of its condition the estimated actual ...

30.04.075 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, ...

30.04.111 Limit on loans and extensions of credit to one person -- Exceptions
The total loans and extensions of credit by a bank or trust company to a person outstanding at any one time shall not exceed twenty ...

30.04.112 "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 ...

30.04.120 Loans on own stock prohibited -- Shares of other corporations
The shares of stock of every bank and trust company shall be deemed personal property. No such corporation shall hereafter make any loan or discount ...

30.04.125 Investment in corporations -- Authorized businesses
Unless otherwise prohibited by law, any state bank or trust company may invest in the capital stock of corporations organized to conduct the following businesses: ...

30.04.127 Formation, incorporation, or investment in corporations or other entities authorized -- Approval -- Exception
(1) A bank or trust company, alone or in conjunction with other entities, may form, incorporate, or invest in corporations or other entities, whether or ...

30.04.129 Investment in obligations issued or guaranteed by multilateral development bank
Any bank or trust company may invest in obligations issued or guaranteed by any multilateral development bank in which the United States government formally participates. ...

30.04.130 Defaulted debts, judgments to be charged off -- Valuation of assets
Based on examinations directed pursuant to RCW 30.04.060 or other appropriate information, all assets or portion thereof that the director may have required a bank ...

30.04.140 Pledge of securities or assets prohibited -- Exceptions
No bank or trust company shall pledge or hypothecate any of its securities or assets to any depositor, except that it may qualify as depositary ...

30.04.180 Dividends
No bank or trust company shall declare or pay any dividend to an amount greater than its retained earnings, without approval from the director. The ...

30.04.210 Real estate holdings
A bank or trust company may purchase, hold, and convey real estate for the following purposes: (1) Such as shall be necessary for the convenient ...

30.04.212 Real property and improvements thereon
(1) In addition to the powers granted under RCW 30.04.210 and subject to the limitations and restrictions contained in this section and in RCW 30.60.010 ...

30.04.214 Qualifying community investments
(1) An amount equal to ten percent of the aggregate amount invested in real estate in accordance with RCW 30.04.212 shall be placed in qualifying ...

30.04.215 Engaging in other business activities
(1) Notwithstanding any other provisions of law, in addition to all powers enumerated by this title, and those necessarily implied therefrom, a bank or trust ...

30.04.217 Additional powers -- Powers and authorities of mutual savings bank -- Restrictions
Notwithstanding any other provisions of law, in addition to all powers, express or implied, that a bank or trust company has under the laws of ...

30.04.220 Corporations existing under former laws
Every corporation, which on March 10, 1917, was actually and publicly engaged in banking or trust business in this state in full compliance with the ...

30.04.225 Contributions and gifts
In the absence of an express prohibition in its articles of incorporation, the making of contributions or gifts for the public welfare, or for charitable, ...

30.04.230 Authority of corporation or association to acquire stock of bank, trust company, or national banking association
(1) A corporation or association organized under the laws of this state or licensed to transact business in the state may acquire any or all ...

30.04.232 Additional authority of out-of-state holding company to acquire stock or assets of bank, trust company, or national banking association
(1) In addition to an acquisition pursuant to RCW 30.04.230, an out-of-state bank holding company may acquire more than five percent of the voting stock ...

30.04.238 Purchase of own capital stock authorized
(1) Notwithstanding any other provision of this title, a bank, with the prior approval of the director, may purchase shares of its own capital stock. ...

30.04.240 Trust business to be kept separate -- Authorized deposit of securities
(1) Every corporation doing a trust business shall maintain in its office a trust department in which it shall keep books and accounts of its ...

30.04.260 Legal services, advertising of -- Penalty
(1) No trust company or other corporation which advertises that it will furnish legal advice, construct or prepare wills, or do other legal work for ...

30.04.280 Compliance enjoined -- Banking, trust business, branches
No person shall engage in banking except in compliance with and subject to the provisions of this title, unless it is a national bank or ...

30.04.285 Director's approval of a branch -- Satisfactory financial condition -- Affiliated commercial locations
(1) The director's approval of a branch within the United States or any territory of the United States or in any foreign country shall be ...

30.04.295 Agency agreements -- Written notice to director
On or before the date on which a bank enters into any agency agreement authorizing another entity, as agent of the bank, to receive deposits ...

30.04.300 Foreign branch banks
A branch of any foreign bank or banker actually and publicly engaged in banking in this state on March 10, 1917, in full compliance with ...

30.04.310 Penalty -- General
Every bank or trust company which violates or fails to comply with any provision of chapters 30.04 through 30.22, 30.44, and 11.100 RCW or any ...

30.04.330 Saturday closing authorized
Any bank, which term for the purpose of this section shall include but not be limited to any state bank, national bank or association, mutual ...

30.04.375 Investment in stock, participation certificates, and other evidences of participation
Any bank or trust company may invest in the stock or participation certificates of production credit associations, federal intermediate credit banks and the stock or ...

30.04.380 Investment in paid-in capital stock and surplus of banks or corporations engaged in international or foreign banking
Any bank or trust company may invest an amount not exceeding ten per centum of its paid-in capital stock and surplus in the stock of ...

30.04.390 Acquisition of stock of banks organized under laws of foreign country, etc
Any bank or trust company may acquire and hold, directly or indirectly, stock or other evidence of indebtedness or ownership in one or more banks ...

30.04.395 Continuing authority for investments
Any investment by a bank other than a loan, if legal and authorized when made, may continue to be held by the bank notwithstanding a ...

30.04.400 Bank acquisition or control -- Definitions
As used in RCW 30.04.400 through 30.04.410, the following words shall have the following meanings: (1) "Control" means directly or indirectly alone or in concert ...

30.04.405 Bank acquisition or control -- Notice or application -- Registration statement -- Violations -- Penalties
(1) It is unlawful for any person to acquire control of a bank until thirty days after filing with the director a copy of the ...

30.04.410 Bank acquisition or control -- Disapproval by director -- Change of officers
(1) The director may disapprove the acquisition of a bank or trust company within thirty days after the filing of a complete application pursuant to ...

30.04.450 Violations or unsafe or unsound practices -- Notice of charges -- Contents -- Hearing -- Cease and desist order
(1) The director may issue and serve upon a bank or trust company a notice of charges if in the opinion of the director any ...

30.04.455 Violations or unsafe or unsound practices -- Temporary cease and desist order -- Issuance
Whenever the director determines that the acts specified in RCW 30.04.450 or their continuation is likely to cause insolvency or substantial dissipation of assets or ...

30.04.460 Violations or unsafe or unsound practices -- Injunction to set aside, limit, or suspend temporary order
Within ten days after a bank or trust company has been served with a temporary cease and desist order, the bank or trust company may ...

30.04.465 Violations or unsafe or unsound practices -- Injunction to enforce temporary order
In the case of a violation or threatened violation of a temporary cease and desist order issued under RCW 30.04.455, the director may apply to ...

30.04.470 Violations or unsafe or unsound practices -- Removal of officer or employee or prohibiting participation in bank or trust company affairs -- Administrative hearing or judicial review
(1) Any administrative hearing provided in RCW 30.04.450 or 30.12.042 may be held at such place as is designated by the director and shall be ...

30.04.475 Violations or unsafe or unsound practices -- Removal of officer or employee or prohibiting participation in bank or trust company affairs -- Jurisdiction of courts in enforcement or issuance of orders, injunctions or judicial review
The director may apply to the superior court of the county of the principal place of business of the bank or trust company affected for ...

30.04.500 Fairness in lending act -- Short title
RCW 30.04.505 through 30.04.515 shall be known and may be cited as the "fairness in lending act".[1977 ex.s. c 301 § 10.]Notes: Unfair practices of ...

30.04.505 Fairness in lending act -- Definitions
As used in RCW 30.04.505 through 30.04.515: (1) "Financial institution" means any bank or trust company, mutual savings bank, credit union, mortgage company, or savings ...

30.04.510 Fairness in lending act -- Unlawful practices
Subject to RCW 30.04.515, it shall be unlawful for any financial institution, in processing any application for a loan to be secured by a single-family ...

30.04.515 Fairness in lending act -- Sound underwriting practices not precluded
Nothing contained in RCW 30.04.505 through 30.04.510 shall preclude a financial institution from considering sound underwriting practices in processing any application for a loan to ...

30.04.550 Reorganization as subsidiary of bank holding company -- Authority
A state banking corporation may, with the approval of the director and the affirmative vote of the shareholders of such corporation owning at least two-thirds ...

30.04.555 Reorganization as subsidiary of bank holding company -- Procedure
A reorganization authorized under RCW 30.04.550 shall be carried out in the following manner: (1) A plan of reorganization specifying the manner in which the ...

30.04.560 Reorganization as subsidiary of bank holding company -- Dissenter's rights -- Conditions
If the shareholders approve the reorganization by a two-thirds vote of each class of shares entitled to vote under the terms of such shares, and ...

30.04.565 Reorganization as subsidiary of bank holding company -- Valuation of shares of dissenting shareholders
The value of the shares of a dissenting shareholder who has properly perfected dissenter's rights shall be ascertained as of the day prior to the ...

30.04.570 Reorganization as subsidiary of bank holding company -- Approval of director -- Certificate of reorganization -- Exchange of shares
The reorganization and exchange authorized by RCW 30.04.550 through 30.04.570 shall become effective as follows: (1) If the board of directors and shareholders of the ...

30.04.575 Public hearing prior to approval of reorganization -- Request
Prior to the approval of the reorganization, the director, upon request of the board of directors of the bank, or not less than ten percent ...

30.04.600 Shareholders -- Actions authorized without meetings -- Written consent
Any action required by this title to be taken at a meeting of the shareholders of a corporation, or any action that may be taken ...

30.04.605 Directors, committees -- Actions authorized without meetings -- Written consent
Unless otherwise provided by the articles of incorporation or bylaws, any action required by this title to be taken at a meeting of the directors ...

30.04.610 Directors, committees -- Meetings authorized by conference telephone or similar communications equipment
Except as may be otherwise restricted by the articles of incorporation or bylaws, members of the board of directors or any committee designated by the ...

30.04.650 Automated teller machines and night depositories security
Chapter 19.174 RCW applies to automated teller machines and night depositories regulated under this title.[1993 c 324 § 10.]Notes: Effective date -- 1993 c 324: ...

30.04.901 Severability -- 2003 c 24
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...