Wash. Rev. Code § 33.24.005
"Mortgage" includes deed of trust and real estate contract
The word "mortgage" as used in this title includes deed of trust and real estate contract.
Revised Code of Washington Chapter 33.24 — Loans and Investments
Washington · statute · Wash. Rev. Code ch. 33.24 · 27 active provisions
Wash. Rev. Code § 33.24.007
"Real property" defined
Unless the context clearly requires otherwise, "real property" means improved or unimproved real estate and includes leasehold interests in improved or unimproved real estate and includes manufactured housing whether temporarily, semipermanently, or permanently attached to land and mobile homes and manufactured homes w…
Wash. Rev. Code § 33.24.010
Authority to invest—Limits on loans and extensions of credit
(1) An association may invest its funds only as provided in this chapter.(2) An association 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 § 33.24.015
Loans generally—Limitation
An association may invest not more than twenty percent of its assets in loans on such terms as it deems appropriate.
Wash. Rev. Code § 33.24.020
Obligations of United States or Canada
An association may invest its funds in loans upon or purchases of the bonds or obligations of or bonds or obligations guaranteed by the United States of America, including bonds of the District of Columbia, of the Dominion of Canada, or those for which the faith of the United States or the Dominion of Canada is pledged…
Wash. Rev. Code § 33.24.025
Investment in investment trusts or companies
Except as may be limited by the director by rule, an association may invest its funds in obligations of the United States, as authorized by RCW 33.24.020, either directly or in the form of securities of, or other interests in, an open-end or closed-end management type investment company or investment trust registered u…
Wash. Rev. Code § 33.24.030
Obligations of this state
An association may invest its funds in the bonds or interest bearing obligations of this state or any agency thereof.
Wash. Rev. Code § 33.24.040
Obligations of other states
An association may invest its funds in the bonds or interest bearing obligations of any other state of the United States upon which there is no existing default and upon which there has been no default for more than ninety days within ten years immediately preceding the investment: PROVIDED, That such state has not bee…
Wash. Rev. Code § 33.24.050
Obligations of municipal corporations in this state
An association may invest its funds in the valid warrants or bonds of any city, town, county, school district, port district, or other municipal corporation in the state of Washington which are issued pursuant to law and for the payment of which the faith and credit of such municipal corporations is pledged and taxes a…
Wash. Rev. Code § 33.24.060
Obligations of municipal corporations in any state
An association may invest its funds in the valid warrants or bonds of any city, county, school district, port district, or other municipal corporation in the United States having a population of not less than fifty thousand inhabitants as determined by the last federal census, which municipal corporation has not defaul…
Wash. Rev. Code § 33.24.065
Obligations issued or guaranteed by multilateral development bank
An association 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 association's assets.
Wash. Rev. Code § 33.24.070
City or district light, water, and sewer revenue bonds
An association may invest its funds in the revenue bonds of any city, town, district, or political subdivision of this state for the payment of which revenue of the city, town, district or political subdivision utility or revenue producing facility is irrevocably pledged.It may invest its funds in the light, water, or…
Wash. Rev. Code § 33.24.080
Local improvement district bonds
An association may invest its funds in the bonds of any local improvement district of any city of this state (except bonds issued for an improvement consisting of grading only), the ultimate payment of which is guaranteed by the municipality under the provisions of guaranty laws of this state: PROVIDED, That one-half o…
Wash. Rev. Code § 33.24.090
Obligations of federal and state agencies—Investment in other associations
An association may invest its funds in stock or notes, bonds, debentures, or other such obligations of any federal home loan bank, the Home Owners' Loan Corporation, any federal land bank, the Federal Savings and Loan Insurance Corporation, the Federal Housing Administration, the Federal National Mortgage Association,…
Wash. Rev. Code § 33.24.100
Loans or other obligations secured by real property
An association may invest its funds in loans, mortgages, or other obligations secured by real property.
Wash. Rev. Code § 33.24.115
Forming, incorporating with, or investing in other entities—Limitation
An association, 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 association's business. The aggregate amount of funds invested or used in the formation of corporations or other entities und…
Wash. Rev. Code § 33.24.160
Investment in office equipment and real property interests used in doing business
An association may invest its funds in the acquisition of furniture, fixtures and office equipment convenient and necessary for the carrying on of its business.An association may invest its funds in real property or leasehold interests therein for use in the transaction of its business.
Wash. Rev. Code § 33.24.200
Personal liability on unlawful loans
Every director, officer, agent, or employee of an association who shall borrow or who shall knowingly permit any person to borrow any of its funds in violation of the provisions of this title shall be personally liable for any loss or damage which the association may sustain in consequence thereof.
Wash. Rev. Code § 33.24.210
Revenue bonds of public utility districts
See RCW 54.24.120.
Wash. Rev. Code § 33.24.220
Stock or bonds of federal home loan bank
See RCW 30A.32.020.
Wash. Rev. Code § 33.24.270
Stock in small business investment companies
A savings and loan association may purchase and hold for its own investment accounts stock in small business investment companies licensed and regulated by the United States as authorized by the small business act, Public Law 85-536, as amended and now in force, in an amount not to exceed one percent of its assets.
Wash. Rev. Code § 33.24.295
Loans for nonbusiness family purposes—Limitation
An association may invest not to exceed twenty percent of its assets in loans for any nonbusiness family purposes.
Wash. Rev. Code § 33.24.345
Acquisition of control of association—Authorized
A person or other entity, including an association, organized under the laws of this state or authorized to transact business in this state, may acquire any or all of the assets or shares of stock of any association authorized to transact business under this title.
Wash. Rev. Code § 33.24.350
Acquisition of control of association—Definitions
Unless the context requires otherwise, the definitions in this section apply throughout this chapter.(1) "Subsidiary" of a person or other entity means any person or other entity which is controlled by such person or other entity.(2) "Control" means directly or indirectly or acting in concert with one or more other per…
Wash. Rev. Code § 33.24.360
Acquisition of control of association—Unlawful, when—Application—Contents—Notice to other associations—Penalty
(1) It is unlawful for any acquiring party to acquire control of an association until thirty days after the date of filing with the director an application containing substantially all of the following information and any additional information that the director may prescribe as necessary or appropriate in the public i…
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