RCW 31.04.293 — Washington Code / Title 31 / Chapter 04 / Section 293
RCW 31.04.293: Residential mortgage loan modification services—Written disclosure summary—Limitation on fees—Rules.
Status: in_force

(1) In addition to any other requirements under federal or state law, an advance fee may not be collected for residential mortgage loan modification services. (2) A written disclosure summary of all material terms of the services to be provided must be provided to the borrower. (3) The department shall adopt by rule a model written disclosure summary, and any other rules necessary to implement this section. This may include, but is not limited to, usual and customary fees for residential mortgage loan modification services.
RCW 31.12.195 — Washington Code / Title 31 / Chapter 12 / Section 195
RCW 31.12.195: Special membership meetings.
Status: in_force

(1) A special membership meeting of a credit union may be called by: (a) A majority vote of the board; (b) Written petition signed or similarly authenticated by at least ten percent or two thousand of the members of a credit union, whichever is less; (c) A unanimous vote of the supervisory committee for the purpose of presenting and discussing a special report by the supervisory committee regarding the failure of the board to adequately respond within a reasonable time frame to findings or recommendations previously provided to the board by the supervisory committee pursuant to RCW 31.12.335 ; or (d) Unanimous vote of the supervisory committee to suspend a director for cause pursuant to RCW 31.12.345 if the supervisory committee has provided the director and the board with written notice of such cause and a statement of reasons why cause was found, and the board and the director have failed to act within a reasonable period to rectify the activity that constitutes cause. (2) A call of a special membership meeting of a credit union shall be in writing submitted to the secretary of the credit union by the board, the petitioners, or the supervisory committee as applicable, and shall state specifically the purpose or purposes for which the meeting is called and the agenda item or items for consideration by the members at the meeting. If the special membership meeting is called for the removal of one or more directors or supervisory committee members, the call shall state the name of each individual whose removal is sought. (3)(a) Upon receipt of a call for a special membership meeting, the secretary of the credit union shall determine whether the call satisfies the requirements of this section. If so, the secretary shall determine the date and time on which the special membership meeting will be held, and provide notice of the special membership meeting in accordance with the requirements of this subsection and the credit union's bylaws. The special membership meeting must be held no later than ninety days after the date on which the call is received by the secretary. (b) The secretary shall give notice of the special membership meeting at least thirty days before the date of the meeting, or within such other reasonable time period as may be provided by the bylaws. The notice must state the purpose or purposes for which the special membership meeting is called, and the agenda items for the meeting. If the special membership meeting is called for the removal of one or more directors or supervisory committee members, the notice must state the name of each individual whose removal is sought. (4) Except as provided in this subsection, the chairperson of the board shall preside over special membership meetings. If the purpose of the special membership meeting includes the removal of the chairperson, the next highest ranking board officer whose removal is not sought shall preside over the meeting. If the removal of all board officers is sought, the chairperson of the supervisory committee shall preside over the special membership meeting. (5) At the special membership meeting, only those agenda items that are stated in the notice for the meeting may be considered. (6) Special membership meetings shall be conducted according to the rules of procedure approved by the board.
RCW 31.04.227 — Washington Code / Title 31 / Chapter 04 / Section 227
RCW 31.04.227: Mortgage loan origination—Independent contractors.
Status: in_force

An independent contractor may not engage in residential mortgage loan origination activities as a loan processor unless the independent contractor obtains and maintains a license under this chapter. Each independent contractor *loan processor licensed as a mortgage loan originator must have and maintain a valid unique identifier issued by the nationwide mortgage licensing system **and registry.
RCW 31.04.237 — Washington Code / Title 31 / Chapter 04 / Section 237
RCW 31.04.237: Use of nationwide mortgage licensing system and registry.
Status: in_force

In order to fulfill the purposes of chapter 120, Laws of 2009, the director is authorized to establish relationships or contracts with the nationwide mortgage licensing system *and registry or other entities designated by the nationwide mortgage licensing system *and registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this chapter.
RCW 31.24.066 — Washington Code / Title 31 / Chapter 24 / Section 066
RCW 31.24.066: Plan of assessment—Purpose—Requirements—Approval.
Status: in_force

(1) As part of a business plan approved by the department, an applicant or business development company may seek to maintain capital for purposes of making qualified investments and qualified loans by periodically assessing its stockholders, or a class of stockholders, according to a plan of assessment and as agreed upon by affected stockholders by subscription or similar agreement. (2) A plan of assessment may provide for: (a) Stockholders, or a class of stockholders, making, when called upon, additional paid-in capital in exchange for additional equity; and/or (b) Stockholders, or a class of stockholders, making, when called upon, loans or other debt financing to the business development company in exchange for an agreement of repayment. (3) A plan of assessment shall provide for equal treatment by the board of directors of all stockholders, or members of a class of stockholders, subject to assessment. (4) In the case of the approval of a plan of assessment, or the examination of the administration of an ongoing plan of assessment, in which assessable stock is held by a financial institution that is also regulated by the department, the department may condition its approval of the implementation or continued administration of a plan of assessment as to the affected financial institution on whether the safety and soundness of such financial institution is or may become unimpaired, or on whether an assessment of such financial institution has not or will not result, in a material adverse affect on the classification of such financial institution, or its lending or investment portfolio. The authority of the department pursuant to this subsection shall be in addition to all other authority of the department under this chapter or any other applicable law, and notwithstanding any other law to the contrary.
RCW 31.12.657 — Washington Code / Title 31 / Chapter 12 / Section 657
RCW 31.12.657: Lawsuits during period of conservatorship.
Status: in_force

Any suit filed against a credit union or its conservator, during the period of conservatorship, must be brought in the superior court of Thurston county. A conservator for a credit union may file suit in any superior court or other court of competent jurisdiction against any person for the purpose of preserving, protecting, or recovering any asset or property of the credit union, including, but not limited to, any claims or causes of action belonging to or asserted by the credit union.
RCW 31.24.075 — Washington Code / Title 31 / Chapter 24 / Section 075
RCW 31.24.075: Insider transactions.
Status: in_force

(1) A business development company may not be a party to, nor engage in, an insider transaction, unless such an insider transaction is approved or ratified by its board of directors, exclusive of the vote of any interested director. (2) Any insider transaction is subject to the examination and enforcement authority of the department under this chapter.
RCW 31.24.170 — Washington Code / Title 31 / Chapter 24 / Section 170
RCW 31.24.170: Business development companies designated state development companies.
Status: in_force

Any business development company organized under this chapter shall be a state development company, as authorized under Title V of the small business investment act of 1958, Public Law 85-699, 15 U.S.C. Sec. 695, as amended, or any other similar federal legislation.
RCW 31.04.224 — Washington Code / Title 31 / Chapter 04 / Section 224
RCW 31.04.224: Licensing exemptions—Residential mortgage loans.
Status: in_force

The following are exempt from licensing as mortgage loan originators under this chapter: (1) Registered mortgage loan originators, or any individual required to be registered while actively employed by a covered financial institution as defined in regulation G, 12 C.F.R. Part 1007.102; (2) An attorney licensed in Washington who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney's representation of the client, unless the attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of a lender, mortgage broker, or other mortgage loan originator; (3) Any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member; or (4) Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence.
RCW 31.45.210 — Washington Code / Title 31 / Chapter 45 / Section 210
RCW 31.45.210: Military borrowers—Licensee's duty—Definition.
Status: in_force

(1) A licensee shall: (a) When collecting any delinquent small loan, not garnish any wages or salary paid for service in the armed forces; (b) Defer for the duration of the posting all collection activity against a military borrower who has been deployed to a combat or combat support posting for the duration of the posting; (c) Not contact the military chain of command of a military borrower in an effort to collect a delinquent small loan; (d) Honor the terms of any repayment agreement between the licensee and any military borrower, including any repayment agreement negotiated through military counselors or third party credit counselors; and (e) Not make a loan from a specific location to a person that the licensee knows is a military borrower when the military borrower's commander has notified the licensee in writing that the specific location is designated off-limits to military personnel under their command. (2) For purposes of this section, "military borrower" means any active duty member of the armed forces of the United States, or any member of the national guard or the reserves of the armed forces of the United States who has been called to active duty.
RCW 31.24.225 — Washington Code / Title 31 / Chapter 24 / Section 225
RCW 31.24.225: Business as a limited liability company.
Status: in_force

Notwithstanding any other provision of this chapter, a business development company organized under this chapter may be chartered as a limited liability company, or may convert to doing business as a limited liability company, to the same extent and subject to the same terms and conditions as permitted for a bank organized under *Title 30 RCW, including, without limitation, requirements related to director approval, operational matters, corporate governance, and restrictions on complete dissociation. However: (1) The rights of stockholders, as defined in this chapter, supersede the provisions of *Title 30 RCW to the contrary; and (2) The limited liability company agreement, or other governing charter document of the limited liability company, must contain the same or substantially similar recitals as required in RCW 31.24.020 with respect to business purpose, organizational authority, board of directors, management, and limitations on liability of directors and officers.
RCW 31.12.580 — Washington Code / Title 31 / Chapter 12 / Section 580
RCW 31.12.580: Contents of notice under RCW 31.12.575—Hearing—Order.
Status: in_force

(1) A notice under RCW 31.12.575 must contain a statement of the facts that constitute grounds for removal or prohibition and must fix a time and place at which a hearing will be held. If the notice under RCW 31.12.575 is accompanied by a notice of suspension under RCW 31.12.372 , the notice of suspension must reference the statement of facts in the notice under RCW 31.12.575 as the basis for its issuance. (2) The hearing must be set not earlier than ten days after the date of service of the notice or later than thirty days after the date of service of the notice unless an earlier or later date is set by the director at the request of the credit union director, supervisory committee member, officer, or employee for good cause shown or of the attorney general of the state. (3) Unless the credit union director, supervisory committee member, officer, or employee, after being served with the notice, appears at the hearing personally or by a duly authorized representative, the person is deemed to have consented to the issuance of an order of removal or prohibition or both. In the event of such consent or if upon the record made at the hearing the director finds that any of the grounds specified in the notice have been established, the director may issue such orders of removal from office or prohibition from participation in the conduct of the affairs of the credit union or any other depositary institution, trust company, bank holding company, thrift holding company, or financial holding company doing business in Washington state as the director may consider appropriate. (4) An order becomes effective at the expiration of ten days after service upon the credit union and the credit union director, supervisory committee member, officer, or employee concerned, except that an order issued upon consent becomes effective at the time specified in the order. (5) An order remains effective except to the extent it is stayed, modified, terminated, or set aside by the director or a reviewing court.
RCW 31.12.025 — Washington Code / Title 31 / Chapter 12 / Section 025
RCW 31.12.025: Use of words in name.
Status: in_force

(1) A credit union shall include the words "credit union" in its name. (2) No person may conduct business or engage in any other activity under a name or title containing the words "credit union", or represent itself as a credit union, unless it is: (a) A credit union, out-of-state credit union, or a foreign credit union; (b) An organization whose membership or ownership is limited to credit unions, out-of-state credit unions, federal credit unions, or their trade organizations; (c) A person that is primarily in the business of managing one or more credit unions, out-of-state credit unions, or federal credit unions; or (d) A credit union service organization.
RCW 31.12.285 — Washington Code / Title 31 / Chapter 12 / Section 285
RCW 31.12.285: Suspension of members of board or supervisory committee by board—For cause.
Status: in_force

The board may, for cause, suspend a member of the board or a member of the supervisory committee until a special membership meeting, called for that purpose, is held under RCW 31.12.195 . The membership meeting must be held within ninety days after the suspension. The members attending the meeting shall vote whether to remove a suspended party. For purposes of this section, "cause" includes demonstrated financial irresponsibility, a breach of fiduciary duty to the credit union, or activities which, in the judgment of the board, threaten the safety and soundness of the credit union.
RCW 31.12.595 — Washington Code / Title 31 / Chapter 12 / Section 595
RCW 31.12.595: Temporary cease and desist order—Notice—Principal place of business—Superior court.
Status: in_force

(1) If the director determines that the violation or practice specified in RCW 31.12.585 is likely to cause an unsafe or unsound condition at a credit union or a credit union service organization, or the public is likely to be substantially injured by delay in issuing a cease and desist order, the director may immediately issue and serve a temporary cease and desist order upon the credit union, credit union service organization, or other applicable person identified in RCW 31.12.545 (3). The order may require the credit union, credit union service organization, or other applicable person under RCW 31.12.545 (3), and its directors, supervisory committee members, officers, employees, and agents, to cease and desist from the violation or practice and may require them to take affirmative action to correct the conditions resulting from the violation or practice. (2) With the temporary order, the director shall serve a notice of charges and intent to issue a cease and desist order under RCW 31.12.585 in the matter. (3) The temporary order becomes effective upon service on the person and remains effective until completion of the administrative proceedings under the notice issued under subsection (2) of this section. (4) Within ten days after a person has been served with a temporary order, the credit union may apply to the superior court in the county of its principal place of business for an injunction setting aside, limiting, or suspending the order pending the completion of the administrative proceedings under the notice issued under subsection (2) of this section. (5) In the case of a violation or threatened violation of a temporary order, the director may apply to the superior court of the county of the principal place of business of the person for an injunction to enforce the order, and the court shall issue an injunction if it determines that there has been a violation or threatened violation. (6) For the purposes of this section, the principal place of business of a foreign or out-of-state credit union, out-of-state credit union service organization, or other out-of-state person under RCW 31.12.545 (3) is Thurston county.
RCW 31.45.022 — Washington Code / Title 31 / Chapter 45 / Section 022
RCW 31.45.022: Privacy or confidentiality of any information or material—Federal or other state's laws.
Status: in_force

(1) The requirements under any federal law or laws of another state regarding the privacy or confidentiality of any information or material provided to the department [of financial institutions], and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to that information or material, continues to apply to the information or material after the information or material has been disclosed to the department [of financial institutions]. If consistent with applicable law, the information and material may be shared with all state and federal regulatory officials without the loss of privilege or the loss of confidentiality protections provided by federal law or state law. (2) When the department [of financial institutions] is a party to a memoranda of understanding or enforcement order issued by the consumer financial protection bureau, the privacy, confidentiality, or privilege accorded to the document by federal law continues to apply even after the memoranda or order has been signed by the director or a designee. (3) Any requirement under chapter 42.56 RCW relating to the disclosure of confidential supervisory information or any information or material described in subsection (1) or (2) of this section that is inconsistent with subsection (1) or (2) of this section is superseded by the requirements of this section.
RCW 31.20.130 — Washington Code / Title 31 / Chapter 20 / Section 130
RCW 31.20.130: Publication of annual statement of assets and liabilities.
Status: in_force

A development credit corporation, on or before February 15th of each year, shall publish in three consecutive issues of a newspaper of general circulation in the area or areas where the corporation is located a statement of assets and liabilities as of December 31st of the preceding year.
RCW 31.35.900 — Washington Code / Title 31 / Chapter 35 / Section 900
RCW 31.35.900: Severability—Administrative review—1990 c 134.
Status: in_force

If any provision of this act or its application to any person or circumstance is held invalid or, if in the written opinion of the farmers home administration, is contrary to the intent and purposes of the loan guaranty program, the director shall not enforce such provision, but the remainder of the act or the application of the provision to other persons or circumstances shall not be affected.
RCW 31.45.093 — Washington Code / Title 31 / Chapter 45 / Section 093
RCW 31.45.093: Information system—Access—Required information—Fees—Rules.
Status: in_force

(1) The director must, by contract with a vendor or service provider or otherwise, develop and implement a system by means of which a licensee may determine: (a) Whether a consumer has an outstanding small loan; (b) The number of small loans the consumer has outstanding; (c) Whether the borrower is eligible for a loan under RCW 31.45.073 ; (d) Whether the borrower is in an installment plan; and (e) Any other information necessary to comply with this chapter. (2) The director may specify the form and contents of the system by rule. Any system must provide that the information entered into or stored by the system is: (a) Accessible to and usable by licensees and the director from any location in this state; and (b) Secured against public disclosure, tampering, theft, or unauthorized acquisition or use. (3) If the system described in subsection (1) of this section is developed and implemented, a licensee making small loans under this chapter must enter or update the required information in subsection (1) of this section at the time that the small loan transaction is conducted by the licensee. (4) A licensee must continue to enter and update all required information for any loans subject to this chapter that are outstanding or have not yet expired after the date on which the licensee no longer has the license or small loan endorsement required by this chapter. Within ten business days after ceasing to make loans subject to this chapter, the licensee must submit a plan for continuing compliance with this subsection to the director for approval. The director must promptly approve or disapprove the plan and may require the licensee to submit a new or modified plan that ensures compliance with this subsection. (5) If the system described in subsection (1) of this section is developed and implemented, the director shall adopt rules to set the fees licensees shall pay to the vendor or service provider for the operation and administration of the system and the administration of this chapter by the department. (6) The director shall adopt rules establishing standards for the retention, archiving, and deletion of information entered into or stored by the system described in subsection (1) of this section. (7) The information in the system described in subsection (1) of this section is not subject to public inspection or disclosure under chapter 42.56 RCW.
RCW 31.12.464 — Washington Code / Title 31 / Chapter 12 / Section 464
RCW 31.12.464: Merger or conversion of state into federal, out-of-state, or foreign credit union, or other type of financial institution.
Status: in_force

(1) A credit union may merge or convert into a federal credit union as authorized by the federal credit union act. The merger or conversion must be approved by a majority vote of those credit union members voting at a membership meeting, unless the credit union prescribes in its bylaws a higher percentage approval vote than a simple majority. (2) If the merger or conversion is approved by the members, a copy of the resolution certified by the secretary must be filed with the director within ten days of approval. The board may effect the merger or conversion upon terms agreed by the board and the federal regulator. (3) A certified copy of the federal credit union charter or authorization issued by the federal regulator must be filed with the director and thereupon the credit union ceases to exist except for the purpose of winding up its affairs and prosecuting or defending any litigation by or against the credit union. For all other purposes, the credit union is merged or converted into a federal credit union and the credit union may execute, acknowledge, and deliver to the successor federal credit union the instruments of transfer, conveyance, and assignment that are necessary or desirable to complete the merger or conversion, and the property, tangible or intangible, and all rights, titles, and interests that are agreed to by the board and the federal regulator. (4) Mergers and conversions are effective after all applicable regulatory waiting periods have expired and upon filing of the credit union's articles of merger or articles of conversion, as appropriate, by the secretary of state, or a later date stated in the articles, which in no event may be later than ninety days after the articles are filed. (5) Procedures, similar to those contained in subsections (1) through (4) of this section, prescribed by the director must be followed when a credit union merges or converts into an out-of-state or foreign credit union, or other type of financial institution.
RCW 31.12.365 — Washington Code / Title 31 / Chapter 12 / Section 365
RCW 31.12.365: Directors and supervisory committee members—Compensation—Reimbursement—Rules.
Status: in_force

(1) A credit union may pay to its directors and supervisory committee members reasonable compensation for their service as directors and supervisory committee members. Irrespective of whether it pays compensation to its directors or supervisory committee members, a credit union may provide to its directors and supervisory committee members: (a) Gifts of minimal value; (b) Insurance coverage or incidental services, available to employees generally; and (c) Reimbursement for reasonable expenses incurred on behalf of themselves and their spouses in the performance of the directors' and supervisory committee members' duties. (2) The director may adopt rules to interpret this section.
RCW 31.04.906 — Washington Code / Title 31 / Chapter 04 / Section 906
RCW 31.04.906: Short title—2018 c 62.
Status: in_force

This act may be known and cited as the Washington student education loan bill of rights.
RCW 31.24.901 — Washington Code / Title 31 / Chapter 24 / Section 901
RCW 31.24.901: Short title.
Status: in_force

This chapter shall be known and may be cited as the "business development company act."
RCW 31.04.904 — Washington Code / Title 31 / Chapter 04 / Section 904
RCW 31.04.904: Effective date—2010 c 35.
Status: in_force

This act takes effect July 1, 2010.
RCW 31.04.274 — Washington Code / Title 31 / Chapter 04 / Section 274
RCW 31.04.274: Information provided to nationwide mortgage licensing system and registry—Confidentiality—Restrictions on sharing.
Status: in_force

(1) Except as otherwise provided in section 1512 of the S.A.F.E. act, the requirements under any federal law or chapter 42.56 RCW regarding the privacy or confidentiality of any information or material provided to the nationwide mortgage licensing system *and registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to that information or material, continues to apply to the information or material after the information or material has been disclosed to the nationwide mortgage licensing system *and registry. Information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or state law. (2) For the purposes under subsection (1) of this section, the director is authorized to enter agreements or sharing arrangements with other governmental agencies, the conference of state bank supervisors, the American association of residential mortgage regulators, or other associations representing governmental agencies as established by rule, regulation, or order of the director. (3) Information or material that is subject to a privilege or confidentiality under subsection (1) of this section is not subject to: (a) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or (b) Subpoena or discovery, or admission into evidence, in any private civil action or administrative process unless, with respect to any privilege held by the nationwide mortgage licensing system *and registry with respect to that information or material, the person to whom the information or material pertains waives, in whole or in part, in the discretion of that person, that privilege. (4) Chapter 42.56 RCW relating to the disclosure of confidential supervisory information or any information or material described in subsection (1) of this section that is inconsistent with subsection (1) of this section is superseded by the requirements of this section. (5) This section does not apply to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the nationwide mortgage licensing system *and registry for access by the public.