Wash. Rev. Code § 32.04.002
Short title
This title may be known and cited as the Washington savings bank act.
Revised Code of Washington Chapter 32.04 — General Provisions
Washington · statute · Wash. Rev. Code ch. 32.04 · 33 active provisions
Provisions
Wash. Rev. Code § 32.04.010
Scope of title
This title shall not be construed as amending or repealing any other law of the state authorizing the incorporation of banks or regulating the same, but shall be deemed to be additional legislation for the sole purpose of authorizing the incorporation and operation of mutual savings banks and mutual savings banks conve…
Wash. Rev. Code § 32.04.012
Limits on loans and extensions of credit
Notwithstanding any other provisions of this title, a savings bank is subject to the same limits on loans and extensions of credit, and exceptions thereto, as set forth in *RCW 30.04.111.
Wash. Rev. Code § 32.04.015
Duty to comply—Violations—Penalty
(1) Each savings bank and its directors, officers, employees, and agents, shall comply with:(a) This title and chapter 11.100 RCW as applicable to each of them;(b) The rules adopted by the department with respect to savings banks;(c) Any lawful direction or order of the director;(d) Any lawful supervisory agreement wit…
Wash. Rev. Code § 32.04.020
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 § 32.04.022
"Mortgage" includes deed of trust
The word "mortgage" as used in this title includes deed of trust.
Wash. Rev. Code § 32.04.025
Powers as to horizontal property regimes or condominiums
The words "real estate" and "real property" as used in this title shall include apartments or other portions, however designated, of horizontal property regimes, or a condominium interest in property, as may be created under any laws now in existence or hereafter enacted. A mutual savings bank may do any act necessary…
Wash. Rev. Code § 32.04.030
Branches—Director's approval—Conditions—Definition
(1) A savings bank may not, without the written approval of the director, establish and operate branches in any place.(2) A savings bank headquartered in this state desiring to establish a branch shall file a written application with the director, who shall approve or disapprove the application.(3) The director's appro…
Wash. Rev. Code § 32.04.035
Agency agreements—Written notice to director
On or before the date on which a mutual savings bank enters into any agency agreement authorizing another entity, as agent of the mutual savings bank, to receive deposits or renew time deposits, the mutual savings bank shall give written notice to the director of the existence of the agency agreement. The notice is not…
Wash. Rev. Code § 32.04.050
Reports
A savings bank shall render to the director, in such form as he or she shall prescribe, at least three regular reports each year exhibiting its resources and liabilities as of such dates as the director shall designate, which shall be the dates designated by the comptroller of the currency of the United States for repo…
Wash. Rev. Code § 32.04.070
Certified copies of records as evidence
Copies from the records, books, and accounts of a savings bank and its holding company shall be competent evidence in all cases, equal with originals thereof, if there is annexed to such copies an affidavit taken before a notary public or clerk of a court under seal, stating that the affiant is the officer of the savin…
Wash. Rev. Code § 32.04.080
Employees' pension, retirement, or health insurance benefits—Payment
A mutual savings bank may provide for pensions or retirement benefits for its disabled or superannuated employees or health insurance benefits for its employees and may pay a part or all of the cost of providing such pensions or benefits in accordance with a plan adopted by its board of trustees or a board committee, n…
Wash. Rev. Code § 32.04.082
Pension, retirement, or health insurance benefits—Waiver by bank of offsets attributable to social security
With respect to pension payments or retirement or health insurance benefits payable by a mutual savings bank to any employee heretofore or hereafter retired, such bank may waive all or any part of any offsets thereto attributable to social security benefits receivable by such employee.
Wash. Rev. Code § 32.04.085
Pension, retirement, or health insurance benefits—Supplementation
Any pension payment or retirement or health insurance benefits payable by a mutual savings bank to a former officer or employee, or to a person or persons entitled thereto by virtue of service performed by such officer or employee, in the discretion of a majority of all the trustees of such bank, may be supplemented fr…
Wash. Rev. Code § 32.04.100
Penalty for falsification
Every person who knowingly subscribes to or makes or causes to be made any false statement or false entry in the books of any savings bank or its holding company, or knowingly subscribes to or exhibits any false or fictitious security, document or paper, with the intent to deceive any person authorized to examine into…
Wash. Rev. Code § 32.04.110
Penalty for concealing or destroying evidence
Every board trustee or director, officer, employee, or agent of any savings bank or its holding company who for the purpose of concealing any fact suppresses any evidence against himself or herself, or against any other person, or who abstracts, removes, mutilates, destroys, or secretes any paper, book, or record of an…
Wash. Rev. Code § 32.04.120
Specific penalties invoked
The provisions of RCW 9.24.050, 9.24.040 and 9.24.030 shall apply to the corporations authorized under this title.
Wash. Rev. Code § 32.04.130
General penalty
Any person who does anything forbidden by chapter 32.04, 32.08, 32.12, 32.16 or 32.24 RCW of this title for which a penalty is not provided in this title, or in some other law of the state, shall be guilty of a gross misdemeanor and be punished accordingly.
Wash. Rev. Code § 32.04.150
Cost of examination
See RCW 30A.04.070.
Wash. Rev. Code § 32.04.170
Conversion to mutual savings bank of savings and loan association
See chapter 33.44 RCW.
Wash. Rev. Code § 32.04.190
Bank stabilization act
See chapter 30A.56 RCW.
Wash. Rev. Code § 32.04.200
Capital notes or debentures
See chapter 30A.36 RCW.
Wash. Rev. Code § 32.04.210
Saturday closing authorized
See RCW 30A.04.330.
Wash. Rev. Code § 32.04.211
Examinations directed—Cooperative agreements and actions
(1) The director, assistant director, or an examiner shall visit each savings 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 the condi…
Wash. Rev. Code § 32.04.220
Examination reports and other information—Confidential—Privileged—Penalty
(1) All examination reports and all information obtained by the director and the director's staff in conducting examinations of savings 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 entered into agreements purs…
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