Revised Code of Washington - RCW Title 31 Miscellaneous Loan Agencies - Chapter 31.04 Consumer Loan Act

31.04.015 Definitions
The definitions set forth in this section apply throughout this chapter unless the context clearly requires a different meaning. (1) "Person" includes individuals, partnerships, associations, ...

31.04.025 Application of chapter
Each loan made to a resident of this state by a licensee is subject to the authority and restrictions of this chapter, unless such loan ...

31.04.027 Violations of chapter
It is a violation of this chapter for a licensee, its officers, directors, employees, or independent contractors, or any other person subject to this chapter ...

31.04.035 License required
No person may engage in the business of making secured or unsecured loans of money, credit, or things in action without first obtaining and maintaining ...

31.04.045 License -- Application -- Fee -- Surety bond
(1) Application for a license under this chapter must be in writing and in the form prescribed by the director. The application must contain at ...

31.04.055 License -- Director's duties
(1) The director shall issue and deliver a license to the applicant to make loans in accordance with this chapter at the location specified in ...

31.04.065 License -- Information contained -- Requirement to post
The license shall state the address at which the business is to be conducted and shall state fully the name of the licensee, and if ...

31.04.075 Licensee -- Place of business
The licensee may not maintain more than one place of business under the same license, but the director may issue more than one license to ...

31.04.085 Licensee -- Assessment -- Bond -- Time of payment
A licensee shall, for each license held by any person, on or before the first day of each March, pay to the director an annual ...

31.04.093 Licensing -- Applications -- Regulation of licensees--Director's duties -- Fines -- Orders
(1) The director shall enforce all laws and rules relating to the licensing and regulation of licensees and persons subject to this chapter. (2) The ...

31.04.102 Loans secured, or not secured, by lien on real property -- Licensee's obligations -- Disclosure of fees and costs to borrower -- Time limits
(1) For all loans made by a licensee that are not secured by a lien on real property, the licensee must make disclosures in compliance ...

31.04.105 Licensee -- Powers -- Restrictions
Every licensee may: (1) Lend money at a rate that does not exceed twenty-five percent per annum as determined by the simple interest method of ...

31.04.115 Open-end loan -- Requirements -- Restrictions -- Options
(1) As used in this section, "open-end loan" means an agreement between a licensee and a borrower that expressly states that the loan is made ...

31.04.125 Loan restrictions -- Interest calculations
(1) No licensee may make a loan using any method of calculating interest other than the simple interest method; except that the add-on method of ...

31.04.135 Advertisements or promotions
No licensee may advertise, print, display, publish, distribute, or broadcast or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any ...

31.04.145 Investigations and examinations -- Director's duties -- Production of information -- Costs
(1) For the purpose of discovering violations of this chapter or securing information lawfully required under this chapter, the director may at any time, either ...

31.04.155 Licensee -- Recordkeeping -- Director's access -- Report requirement -- Failure to report
The licensee shall keep and use in the business such books, accounts, records, papers, documents, files, and other information as will enable the director to ...

31.04.165 Director -- Broad administrative discretion -- Rule making--Actions in superior court
(1) The director has the power, and broad administrative discretion, to administer and interpret this chapter to facilitate the delivery of financial services to the ...

31.04.168 Director -- Powers under chapter 19.144 RCW
The director or the director's designee may take such action as provided for in this chapter to enforce, investigate, or examine persons covered by chapter ...

31.04.175 Violations -- No penalty prescribed -- Gross misdemeanor -- Good faith exception
(1) A person who violates, or knowingly aids or abets in the violation of any provision of this chapter, for which no penalty has been ...

31.04.185 Repealed sections of law -- Rules adopted under
All rules adopted under or to implement the provisions of law repealed by sections 23 and 24, chapter 208, Laws of 1991 remain in effect ...

31.04.202 Application of administrative procedure act
The proceedings for denying license applications, issuing cease and desist orders, suspending or revoking licenses, and imposing civil penalties or other remedies under this chapter, ...

31.04.205 Enforcement of chapter -- Director's discretion -- Hearing -- Sanctions
The director or designated persons may, at his or her discretion, take such action as provided for in this chapter to enforce this chapter. If ...

31.04.208 Application of consumer protection act
The legislature finds that the practices governed by this chapter are matters vitally affecting the public interest for the purpose of applying the consumer protection ...

31.04.900 Severability -- 1991 c 208
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 ...

31.04.901 Short title
This chapter shall be known as the consumer loan act.[1991 c 208 § 21.] ...

31.04.902 Effective dates, implementation -- 1991 c 208
(1) Sections 1 through 23 of this act shall take effect January 1, 1992, but the director shall take such steps and adopt such rules ...