Revised Code of Washington - RCW Title 30 Banks And Trust Companies - Chapter 30.42 Alien Banks

30.42.010 Purpose
The purpose of this chapter is to establish a legal and regulatory framework for operation by alien banks in the state of Washington that will: ...

30.42.020 Definitions
For the purposes of this chapter, the following terms shall be defined as follows: (1) "Alien bank" means a bank organized under the laws of ...

30.42.030 Authorization and compliance with chapter required
An alien bank shall not establish and operate an office or bureau in this state unless it is authorized to do so by the director ...

30.42.040 More than one office prohibited
An alien bank shall not be permitted to have more than one office in this state.[1973 1st ex.s. c 53 § 4.] ...

30.42.050 Acquisition or serving on board of directors or trustees of other financial institutions prohibited
An alien bank shall not take over or acquire an existing federal or state-chartered bank, trust company, mutual savings bank, savings and loan association, or ...

30.42.060 Conditions to be met before opening office in state
An alien bank shall not hereafter open an office in this state until it has met the following conditions: (1) It has filed with the ...

30.42.070 Allocated paid-in capital -- Requirements
The capital allocated as required in RCW 30.42.060(3) shall be maintained within this state at all times in cash or in director approved interest bearing ...

30.42.080 Separate assets -- Books and records -- Priority as to assets
Every alien bank maintaining an office in this state shall keep the assets of its Washington office entirely separate and apart from the assets of ...

30.42.090 Approval of application -- Criteria -- Reciprocity
The director may give or withhold his or her approval of an application by an alien bank to establish an office in this state at ...

30.42.100 Notice of approval -- Filing -- Time period for commencing business
If the director approves the application, he or she shall notify the alien bank of his or her approval and shall file certified copies of ...

30.42.105 Power to make loans and to guarantee obligations
An approved branch of an alien bank shall have the same power to make loans and guarantee obligations as a state bank chartered pursuant to ...

30.42.115 Solicitation and acceptance of deposits
(1) Any branch of an alien bank that received approval of its branch application pursuant to RCW 30.42.090, or that had filed its branch application ...

30.42.120 Requirements for accepting deposits or transacting business
A branch shall not commence to transact in this state the business of accepting deposits or transact such business thereafter unless it has met the ...

30.42.130 Taking possession by director -- Reasons -- Disposition of deposits -- Claims -- Priorities
The director may take possession of the office of an alien bank for the reasons stated and in the manner provided in chapter 30.44 RCW. ...

30.42.140 Investigations -- Examinations
The director, without previous notice, shall visit the office of an alien bank doing business in this state pursuant to this chapter at least once ...

30.42.145 Examination reports and information -- Confidential -- Privileged -- Penalty
See RCW 30.04.075. ...

30.42.150 Loans subject to usury laws
Loans made by an office shall be subject to the laws of the state of Washington relating to usury.[1973 1st ex.s. c 53 § 15.] ...

30.42.155 Powers and activities
(1) In addition to the taking of deposits and making of loans as provided in this chapter, a branch of an alien bank shall have ...

30.42.160 Powers as to real estate
An alien bank may purchase, hold and convey real estate for the following purposes and no other: (1) Such as shall be necessary for the ...

30.42.170 Advertising, status of federal insurance on deposits to be included -- Gifts for new deposits
(1) An alien bank that advertises the services of its branch in the state of Washington shall indicate on all advertising materials whether or not ...

30.42.180 Approved agencies -- Powers and activities
An approved agency of an alien bank may engage in the business of making loans and guaranteeing obligations for the financing of the international movement ...

30.42.190 Bonding requirements for officers and employees
All officers and employees of an office shall be subject to the same bonding requirements as are officers and employees of banks incorporated under the ...

30.42.200 Books and accounts -- English language
The books and accounts of an office and a bureau shall be kept in words and figures of the English language.[1973 1st ex.s. c 53 ...

30.42.210 Bureaus -- Application procedure
(1) Application procedure. An alien bank shall not establish and operate a bureau in this state unless it is authorized to do so and unless ...

30.42.220 Bureaus -- Approval -- Certificate of authority -- Time limit for commencing business
If the director approves the application, he or she shall notify the alien bank of his or her approval and shall file certified copies of ...

30.42.230 Bureaus -- Number -- Powers
An alien bank may have as many bureaus in this state as the director will authorize. A bureau in this state may provide information about ...

30.42.240 Bureaus -- Examinations
The director is empowered to examine the bureau operations of an alien bank whenever he or she deems it necessary. The director shall collect from ...

30.42.250 Temporary facilities at trade fairs, etc
An alien bank may operate temporary facilities at trade fairs or other commercial events of short duration without first obtaining the approval of the director: ...

30.42.260 Reports
(1) An office of an alien bank shall file the following reports with the director within such times and in such form as the director ...

30.42.270 Taxation
An office of an alien bank shall be taxed on the same basis as are banks incorporated under the laws of this state.[1973 1st ex.s. ...

30.42.280 Directors, officers, and employees -- Duties, responsibilities and restrictions -- Removal
The directors or other governing body of an alien bank and the officers and employees of its office in this state shall be subject to ...

30.42.290 Compliance -- Violations -- Penalties
(1) The director shall have the responsibility for assuring compliance with the provisions of this chapter. An alien bank that conducts business in this state ...

30.42.300 Suspension or revocation of certificate to operate -- Grounds
If the director finds that any alien bank to which he or she has issued a certificate to operate an office or bureau in this ...

30.42.310 Change of location
An alien bank licensed to maintain an office or bureau in this state pursuant to this chapter may apply to the director for leave to ...

30.42.320 Rules
The director shall have power to adopt uniform rules to govern examination and reports of alien bank offices and bureaus doing business in this state ...

30.42.330 Fees
The director shall collect in advance from an alien bank for filing its application for an office or a bureau and the attendant investigation, and ...

30.42.340 Alien banks or branches in business on or before effective date
(1) Any branch of an alien bank that is conducting business in this state on July 16, 1973 pursuant to RCW 30.04.300 shall not be ...

30.42.900 Severability -- 1973 1st ex.s. c 53
If any provision of this 1973 amendatory act, or its application to any person or circumstance is held invalid, the remainder of this 1973 amendatory ...