Source: https://app.leg.wa.gov/rcw/default.aspx?cite=43.320.110
Timestamp: 2020-02-29 06:57:24
Document Index: 126992011

Matched Legal Cases: ['§ 973', '§ 2', '§ 4', '§ 976', '§ 960', '§ 909', '§ 934', '§ 932', '§ 921', '§ 1', '§ 912', '§ 911', '§ 2', '§ 9', '§ 25', '§ 1']

(1) There is created in the custody of the state treasurer a local fund known as the "financial services regulation fund" which shall consist of all moneys received by the divisions of the department of financial institutions, except as provided in subsection (2) of this section.
(2) The division of securities shall deposit thirteen percent of all moneys received, except as provided in RCW 43.320.115 and subsection (3) of this section, and which shall be used for the purchase of supplies and necessary equipment; the payment of salaries, wages, and utilities; the establishment of reserves; and other incidental costs required for the proper regulation of individuals and entities subject to regulation by the department.
(3) The division of securities shall deposit one hundred percent of all moneys received that are attributable to increases in fees implemented by rule pursuant to RCW 21.20.340(15).
(4) Disbursements from the fund shall be on authorization of the director of financial institutions or the director's designee. In order to maintain an effective expenditure and revenue control, the fund shall be subject in all respects to chapter 43.88 RCW, but no appropriation is required to permit expenditures and payment of obligations from the fund.
(5) During the 2017-2019 fiscal biennium, the legislature may transfer from the financial services regulation fund to the state general fund such amounts as reflect the excess fund balance of the fund. During the 2017-2019 fiscal biennium, moneys from the financial services regulation fund may be appropriated for the family prosperity account program at the department of commerce and for the operations of the department of revenue.
(6)(a) Beginning in the 2020-2021 fiscal year, the state treasurer shall annually transfer from the fund to the student loan advocate account created in RCW 28B.77.008, the greater of one hundred seventy-five thousand dollars or twenty percent of the annual assessment derived from student education loan servicing.
(b) The department must provide information to the state treasurer regarding the amount of the annual assessment derived from student education loan servicing.
(7) The director's obligations or duties under chapter 62, Laws of 2018 are subject to section 21, chapter 62, Laws of 2018.
(8) During the 2019-2021 fiscal biennium, moneys in the financial services regulation fund may be appropriated for the operations of the department of revenue. It is the intent of the legislature to continue this policy in subsequent biennia.
(9) During the 2019-2021 fiscal biennium, the legislature may direct the state treasurer to make transfers of moneys in the financial services regulation account [fund] to the general fund.
[ 2019 c 415 § 973. Prior: 2018 c 185 § 2; 2018 c 62 § 4; 2017 3rd sp.s. c 1 § 976; 2015 3rd sp.s. c 4 § 960; 2011 2nd sp.s. c 9 § 909; 2010 1st sp.s. c 37 § 934; 2005 c 518 § 932; prior: 2003 1st sp.s. c 25 § 921; 2003 c 288 § 1; 2002 c 371 § 912; 2001 2nd sp.s. c 7 § 911; 2001 c 177 § 2; 1995 c 238 § 9; 1993 c 472 § 25; 1981 c 241 § 1. Formerly RCW 43.19.095.]