Wash. Rev. Code § 30A.04.002
Short title
This title may be known and cited as the Washington commercial bank act.
Revised Code of Washington Chapter 30A.04 — General Provisions
Washington · statute · Wash. Rev. Code ch. 30A.04 · 67 active provisions
Wash. Rev. Code § 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…
Wash. Rev. Code § 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 the sa…
Wash. Rev. Code § 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 ter…
Wash. Rev. Code § 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, or evidence are loc…
Wash. Rev. Code § 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, only a national bank, federal savings bank, a bank or trust company…
Wash. Rev. Code § 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 am…
Wash. Rev. Code § 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 debts and o…
Wash. Rev. Code § 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.
Wash. Rev. Code § 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) Any lawful supervisory agreement with…
Wash. Rev. Code § 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…
Wash. Rev. Code § 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, and semiannual charges for recoupment of nondirect expenses…
Wash. Rev. Code § 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 ent…
Wash. Rev. Code § 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 made by a bank does not violate this section if the loan or extension of credit would qualify for an exception to the lend…
Wash. Rev. Code § 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 a maturity of more than one business day are subject to those…
Wash. Rev. Code § 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 shall be necessary to prevent loss upon a debt previously contr…
Wash. Rev. Code § 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 director;(2)…
Wash. Rev. Code § 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 the formation of corporations or other entities under this se…
Wash. Rev. Code § 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.
Wash. Rev. Code § 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 any of its assets or liabilities at a valuation contrary to gener…
Wash. Rev. Code § 30A.04.140
Pledge of securities or assets prohibited—Exceptions
No bank shall pledge or hypothecate any of its securities or assets to any depositor, except that it may qualify as depositary for United States deposits, or other public funds, or funds held in trust and deposited by any public officer by virtue of his or her office, or as a depository for the money of estates under t…
Wash. Rev. Code § 30A.04.180
Dividends
No bank shall declare or pay any dividend to an amount greater than its retained earnings, without approval from the director. The director shall in his or her discretion have the power to require any bank to suspend the payment of any and all dividends until all requirements that may have been made by the director sha…
Wash. Rev. Code § 30A.04.210
Real estate holdings
A bank may purchase, hold, and convey real estate for the following purposes:(1) Such as shall be necessary for the convenient transaction of its business, including with its banking offices other space in the same building to rent as a source of income: PROVIDED, That any bank shall not invest for such purposes more t…
Wash. Rev. Code § 30A.04.212
Real property and improvements thereon
(1) In addition to the powers granted under RCW 30A.04.210 and subject to the limitations and restrictions contained in this section and in RCW 30A.60.010 and 30A.60.020, a bank:(a) May acquire any interest in unimproved or improved real property;(b) May construct, alter, and manage improvements of any description on r…
Wash. Rev. Code § 30A.04.214
Qualifying community investments
(1) An amount equal to ten percent of the aggregate amount invested in real estate in accordance with RCW 30A.04.212 shall be placed in qualifying community investments as defined in subsection (2) of this section.(2) "Qualifying community investment" means any direct or indirect investment or extension of credit made…
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