reglab/housing_qa huggingface dataset:
WA Rev Code § 32.20.280 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.280 - Investments in real estate.

RCW 32.20.280 Investments in real estate.A mutual savings bank may invest its funds in real estate as follows:(1) A tract of land whereon there is or may be erected a building or buildings suitable for the convenient transaction of the business of the savings bank, from portions of which not required for its own use revenue may be derived: PROVIDED, That the cost of the land and building or buildings for the transaction of the business of the savings bank shall in no case exceed fifty percent of the guaranty fund, undivided profits, reserves, and subordinated securities of the savings bank, except with the approval of the director; and before the purchase of such property is made, or the erection of a building or buildings is commenced, the estimate of the cost thereof, and the cost of the completion of the building or buildings, shall be submitted to and approved by the director. "The cost of the land and building or buildings" means the amounts paid or expended therefor less the reasonable depreciation thereof taken by the bank against such improvements during the time they were held by the bank.(2) Such lands as shall be conveyed to the savings bank in satisfaction of debts previously contracted in the course of its business.(3) Such lands as the savings bank shall purchase at sales under judgments, decrees, or mortgages held by it.All real estate purchased by any such savings bank, or taken by it in satisfaction of debts due it, under this section, shall be conveyed to it directly by name, or in the name of a corporation all of the stock of which is owned by the bank, or in such other manner as the bank shall determine to be in the best interest of the bank, and the conveyance shall be immediately recorded in the office of the proper recording officer of the county in which such real estate is situated.(4) Every parcel of real estate purchased or acquired by a savings bank under subsections (2) and (3) of this section, shall be sold by it within five years from the date on which it was purchased or acquired, or in case it was acquired subject to a right of redemption, within five years from the date on which the right of redemption expires, unless:(a) There is a building thereon occupied by the savings bank and its offices,(b) The director, on application of the board of trustees of the savings bank, extends the time within which such sale shall be made, or(c) The property is held by the bank as an investment under the provisions of RCW 32.20.285, as now or hereafter amended.[ 1994 c 92 § 337; 1981 c 86 § 4; 1973 1st ex.s. c 31 § 6; 1969 c 55 § 7; 1955 c 13 § 32.20.280. Prior: 1929 c 74 § 22; 1921 c 156 § 110; 1915 c 175 § 12; RRS § 3381-22.]NOTES:Severability—1981 c 86: See note following RCW 32.08.140.Construction—1973 1st ex.s. c 31: See RCW 32.20.500.
WA Rev Code § 32.20.285 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.285 - Investments through purchase of real estate—Improvements.

RCW 32.20.285 Investments through purchase of real estate—Improvements.Subject to such requirements, restrictions, or other conditions as the director may adopt by rule, order, directive, standard, policy, memorandum[,] or other communication with regard to the investment, a savings bank may invest its funds in such real estate, improved or unimproved, and its fixtures and equipment, as the savings bank shall purchase either alone or with others or through ownership of interests in entities holding such real estate. The savings bank may improve property which it owns, and rent, lease, sell, and otherwise deal in such property, the same as any other owner thereof. The total amount a savings bank may invest pursuant to this section shall not exceed twenty percent of its funds. No officer or board trustee or director of the savings bank shall own or hold any interest in any property in which the savings bank owns an interest, and in the event the bank owns an interest in property hereunder with or as a part of another entity, no officer or board trustee or director of the savings bank shall own more than two and one-half percent of the equity or stock of any entity involved, and all of the officers and board trustees or directors of the savings bank shall not own more than five percent of the equity or stock of any entity involved.[ 2010 c 88 § 57; 1981 c 86 § 5; 1969 c 55 § 15.]NOTES:Effective date—2010 c 88: See RCW 32.50.900.Severability—1981 c 86: See note following RCW 32.08.140.
WA Rev Code § 32.20.300 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.300 - Home loan bank as depositary.

RCW 32.20.300 Home loan bank as depositary.See RCW 30A.32.040.
WA Rev Code § 32.20.310 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.310 - Deposit of securities.

RCW 32.20.310 Deposit of securities.A savings bank may deposit securities owned by it, for safekeeping, with any duly designated depositary for the bank's funds. The written statement of the depositary that it holds for safekeeping specified securities of a savings bank may be taken as evidence of the facts therein shown by any public officer or any officer of the bank or committee of its trustees whose duty it is to examine the affairs and assets of the bank.[ 1955 c 13 § 32.20.310. Prior: 1929 c 74 § 24; 1927 c 184 § 4; RRS § 3381-24.]
WA Rev Code § 32.20.320 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.320 - Investment of funds.

RCW 32.20.320 Investment of funds.The trustees of every savings bank shall as soon as practicable invest the moneys deposited with it in the securities prescribed in this title.The purchase by a savings bank of a negotiable certificate of deposit or similar security issued by a bank need not be considered a deposit if the certificate or security is eligible for investment by a savings bank under any other provision of this title.[ 1969 c 55 § 8; 1955 c 13 § 32.20.320. Prior: 1929 c 74 § 25; 1925 ex.s. c 86 § 11; 1915 c 175 § 20; RRS § 3381-25.]
WA Rev Code § 32.20.330 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.330 - Investments—Loans, preferred stock, or interest-bearing obligations—Restrictions.

RCW 32.20.330 Investments—Loans, preferred stock, or interest-bearing obligations—Restrictions.A mutual savings bank may invest in loans to sole proprietorships, partnerships, limited liability companies, corporations, or other entities, or in preferred stock or discounted or other interest bearing obligations issued, guaranteed, or assumed by limited liability companies or corporations commonly accepted as industrial corporations or engaged in communications, transportation, agriculture, furnishing utility professional services, manufacturing, construction, mining, fishing, processing or merchandising of goods, food, or information, banking, or commercial or consumer financing, doing business or incorporated under the laws of the United States, or any state thereof, or the District of Columbia, or the Dominion of Canada, or any province thereof, subject to the following conditions:(1) Not more than two percent of the bank's funds shall be invested, pursuant to this section, in the aggregate of loans to and preferred stock and obligations of any person, as defined in *RCW 32.32.228(1)(c), and such person's affiliates, as defined in RCW 32.32.025(1), incorporating the definition of control in RCW 32.32.025(8).(2) Such loans or securities shall be prudent investments.(3) Pursuant to this section, the total amount a savings bank may invest shall not exceed fifty percent of its funds, and not more than fifteen percent of the bank's funds may be invested in such loans to or securities of any industry.[ 1999 c 14 § 26; 1985 c 56 § 13; 1973 1st ex.s. c 31 § 7; 1971 ex.s. c 222 § 6; 1955 c 80 § 6.]NOTES:*Reviser's note: RCW 32.32.228 was amended by 2005 c 348 § 5, changing subsection (1)(c) to subsection (1)(d).Construction—1973 1st ex.s. c 31: See RCW 32.20.500.Severability—1971 ex.s. c 222: See note following RCW 32.04.085.
WA Rev Code § 32.20.335 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.335 - Investments—Qualified thrift investments.

RCW 32.20.335 Investments—Qualified thrift investments.A mutual savings bank may invest in loans or securities that are qualified thrift investments for a savings association subject to the limits specified in 12 U.S.C. Sec. 1467a(m).[ 1999 c 14 § 27.]
WA Rev Code § 32.20.340 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.340 - Stock or bonds of federal home loan bank.

RCW 32.20.340 Stock or bonds of federal home loan bank.See RCW 30A.32.020.
WA Rev Code § 32.20.350 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.350 - Stock of federal reserve bank or Federal Deposit Insurance Corporation.

RCW 32.20.350 Stock of federal reserve bank or Federal Deposit Insurance Corporation.See RCW 30A.32.010.
WA Rev Code § 32.20.370 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.370 - Corporate bonds and other interest-bearing or discounted obligations.

RCW 32.20.370 Corporate bonds and other interest-bearing or discounted obligations.A mutual savings bank may invest its funds in bonds or other interest bearing or discounted obligations of corporations not otherwise eligible for investment by the savings bank which are prudent investments for such bank in the opinion of its board of trustees or of a committee thereof whose action is ratified by such board at its regular meeting next following such investment. The total amount a mutual savings bank may invest pursuant to this section shall not exceed ten percent of its funds.[ 1977 ex.s. c 104 § 5; 1967 c 145 § 9; 1959 c 41 § 6.]
WA Rev Code § 32.20.380 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.380 - Stocks, securities, of corporations not otherwise eligible for investment.

RCW 32.20.380 Stocks, securities, of corporations not otherwise eligible for investment.A mutual savings bank may invest its funds in stocks or other securities of corporations not otherwise eligible for investment by the savings bank which are prudent investments for the bank in the opinion of its board of trustees or of a committee thereof whose action is ratified by the board at its regular meeting next following the investment. The total amount a mutual savings bank may invest pursuant to this section shall not exceed fifty percent of the total of its guaranty fund, undivided profits, and unallocated reserves, or five percent of its deposits, whichever is less.[ 1981 c 86 § 6; 1963 c 176 § 16.]NOTES:Severability—1981 c 86: See note following RCW 32.08.140.
WA Rev Code § 32.20.390 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.390 - Obligations of corporations or associations federally authorized to insure or market real estate mortgages—Loans, etc., eligible for insurance.

RCW 32.20.390 Obligations of corporations or associations federally authorized to insure or market real estate mortgages—Loans, etc., eligible for insurance.A mutual savings bank may invest its funds:(1) In capital stock, notes, bonds, debentures, participating certificates, and other obligations of any corporation or association which is or hereafter may be created pursuant to any law of the United States for the purpose of insuring or marketing real estate mortgages: PROVIDED, That the amount a mutual savings bank may invest in the capital stock of any one such corporation shall not exceed five percent of the funds of the mutual savings bank and the total amount it may invest in capital stock pursuant to this subsection (1) shall not exceed ten percent of the funds of the mutual savings bank.(2) In such loans, advances of credit, participating certificates, and purchases of obligations representing loans and advances of credit as are eligible for insurance by any corporation or association which is or hereafter may be created pursuant to any law of the United States for the purpose of insuring real estate mortgages. The bank may do all acts necessary or appropriate to obtain such insurance. No law of this state prescribing the nature, amount, or form of security, or prescribing or limiting the period for which loans or advances of credit may be made shall apply to loans, advances of credit, or purchases made pursuant to this subsection (2).[ 1963 c 176 § 17.]
WA Rev Code § 32.20.400 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.400 - Loans for home or property repairs, alterations, appliances, improvements, additions, furnishings, underground utilities, education or nonbusiness family purposes.

RCW 32.20.400 Loans for home or property repairs, alterations, appliances, improvements, additions, furnishings, underground utilities, education or nonbusiness family purposes.A mutual savings bank may invest not to exceed twenty percent of its funds pursuant to this section in loans for home or property repairs, alterations, appliances, improvements, or additions, home furnishings, for installation of underground utilities, for educational purposes, or for nonbusiness family purposes: PROVIDED, That the application therefor shall state that the proceeds are to be used for one of the above purposes.[ 1999 c 14 § 28; 1981 c 86 § 7; 1977 ex.s. c 104 § 6; 1969 c 55 § 9; 1967 c 145 § 10; 1963 c 176 § 18.]NOTES:Severability—1981 c 86: See note following RCW 32.08.140.
WA Rev Code § 32.20.410 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.410 - Limitation of total investment in certain obligations.

RCW 32.20.410 Limitation of total investment in certain obligations.The aggregate total amount a mutual savings bank may invest in the following shall not exceed the sum of eighty-five percent of its funds and one hundred percent of its borrowings as permitted under RCW 32.08.140, as now or hereafter amended and RCW 32.08.190, as now or hereafter amended:(1) Mortgages upon real estate and participations therein;(2) Contracts for the sale of realty;(3) Mortgages upon leasehold estates; and(4) Notes secured by pledges or assignments of first mortgages or real estate contracts.The limitation of this section shall not apply to GNMA certificates, mortgage backed bonds, mortgage pass-through certificates or other similar securities purchased or held by the bank.[ 1981 c 86 § 8; 1977 ex.s. c 104 § 7; 1969 c 55 § 10; 1963 c 176 § 19.]NOTES:Severability—1981 c 86: See note following RCW 32.08.140.
WA Rev Code § 32.20.415 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.415 - Limitation on certain secured and unsecured loans.

RCW 32.20.415 Limitation on certain secured and unsecured loans.In addition to all other investments and loans authorized for mutual savings banks in this state, a mutual savings bank may invest not more than twenty percent of its funds in secured or unsecured loans on such terms and conditions as the bank may determine.[ 1981 c 86 § 15.]NOTES:Severability—1981 c 86: See note following RCW 32.08.140.
WA Rev Code § 32.20.430 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.430 - Loans to banks or trust companies.

RCW 32.20.430 Loans to banks or trust companies.A mutual savings bank may invest its funds in loans to banks or trust companies which mature on the next business day following the day of making such loan. The loans may be evidenced by any writing or ledger entries deemed adequate by the mutual savings bank and may be secured or unsecured. The loans made hereunder are payable on the same basis as are regular deposits in such banks, and therefore the transactions may be characterized for accounting and statement purposes and carried on the books of the mutual savings bank as either a deposit with or a loan to the bank.[ 1971 ex.s. c 222 § 3.]NOTES:Severability—1971 ex.s. c 222: See note following RCW 32.04.085.
WA Rev Code § 32.20.440 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.440 - Purchase of United States securities from banks or trust companies.

RCW 32.20.440 Purchase of United States securities from banks or trust companies.A mutual savings bank may invest its funds in the purchase of United States government securities from a bank or trust company, subject to the selling bank's or trust company's agreement to repurchase such securities on the business day next following their purchase by the mutual savings bank. The securities may be purchased at par, or at a premium or discount, as the mutual savings bank may agree, and may be characterized for accounting and statement purposes and carried on the books of the mutual savings bank as such securities to the extent of their market value, and as due from such banks or trust companies to the extent that the repurchase price agreed to be paid exceeds such market value.[ 1971 ex.s. c 222 § 4.]NOTES:Severability—1971 ex.s. c 222: See note following RCW 32.04.085.
WA Rev Code § 32.20.445 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.445 - Stock, other securities, and obligations of federally insured institutions.

RCW 32.20.445 Stock, other securities, and obligations of federally insured institutions.A savings bank may invest its funds in the stock and other securities and obligations of a savings or banking institution or holding company thereof if the deposits of the savings or banking institution are insured by the federal deposit insurance corporation or any other federal instrumentalities established to carry on substantially the same functions as such corporations.[ 1999 c 14 § 29; 1989 c 180 § 8.]
WA Rev Code § 32.20.450 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.450 - Low-cost housing—Legislative finding.

RCW 32.20.450 Low-cost housing—Legislative finding.The legislature finds there is a shortage of adequate housing in a suitable environment in many parts of this state for people of modest means, which shortage adversely affects the public in general and the mutual savings banks of this state and their depositors. The legislature further finds that the making of loans or investments to alleviate this problem which may provide a less than market rate of return and entail a higher degree of risk than might otherwise be acceptable, will benefit this state, the banks, and their depositors.[ 1973 1st ex.s. c 31 § 1.]NOTES:Construction—1973 1st ex.s. c 31: See RCW 32.20.500.
WA Rev Code § 32.20.460 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.460 - Low-cost housing—Factory built housing—Mobile homes.

RCW 32.20.460 Low-cost housing—Factory built housing—Mobile homes.In addition to the portions of its funds permitted to be invested in real estate loans under RCW 32.20.410, a mutual savings bank may invest not to exceed fifteen percent of its funds in loans and investments as follows:(1) Loans for the rehabilitation, remodeling, or expansion of existing housing.(2) Loans in connection with, or participation in:(a) Housing programs of any agency of federal, state, or local government; and(b) Housing programs of any nonprofit, union, community, public, or quasi-public corporation or entity.Such housing must be made available to all without regard to race, creed, sex, color, or national origin.(3) Loans for purchasing or constructing factory built housing, including but not limited to mobile homes. The bank shall determine the amount, security, and repayment basis which it considers prudent for the loans.(4) In mobile home chattel paper which finances the acquisition of inventory by a mobile home dealer if the inventory is to be held for sale in the ordinary course of business by the mobile home dealer, the monetary obligation evidenced by such chattel paper is the obligation of the mobile home dealer and the amount thereof does not exceed the amount allowed to be loaned on such mobile homes under subsection (3) of this section.[ 1981 c 86 § 9; 1977 ex.s. c 104 § 9; 1973 1st ex.s. c 31 § 2.]NOTES:Severability—1981 c 86: See note following RCW 32.08.140.Construction—1973 1st ex.s. c 31: See RCW 32.20.500.
WA Rev Code § 32.20.470 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.470 - Improvement of private land for public parks and recreation areas.

RCW 32.20.470 Improvement of private land for public parks and recreation areas.Subject to the limits hereinafter set forth, a mutual savings bank may expend its funds for the improvement for public use of privately owned land as parks or recreation areas, including but not limited to "vest pocket" parks, provided that the owner of such land will:(1) Permit public use thereof for a period of at least eighteen months or for such longer period and subject to such other requirements as the bank may impose; and(2) At or before the end of public use, permit the removal of all such improvements which in the bank's judgment reasonably may be accomplished.As used in this section, "public use" means use without regard to race, creed, sex, color, or national origin. The amount expended hereunder and under RCW 32.12.070(2)(d) in any calendar year shall not exceed one-half of one percent of the net earnings of bank for the preceding year.[ 1973 1st ex.s. c 31 § 3.]NOTES:Construction—1973 1st ex.s. c 31: See RCW 32.20.500.
WA Rev Code § 32.20.480 (2021)
2021 Revised Code of Washington|Title 32 - Washington Savings Bank Act|Chapter 32.20 - Investments.|32.20.480 - Loans or investments to provide adequate housing and environmental improvements—Criteria—Restrictions.

RCW 32.20.480 Loans or investments to provide adequate housing and environmental improvements—Criteria—Restrictions.Loans or investments made under *this 1973 amendatory act may provide a less than market rate of return and entail a higher degree of risk than might otherwise be acceptable to the general market, so long as the board of trustees of the bank determines the loan or investment may be beneficial to the community where made, without the need to show a direct corporate benefit, and so long as any private individual who benefits is not, and is not related to any person who is, an officer, employee, or trustee of the bank. It is hereby recognized that the mutual savings banks of the state of Washington and their depositors are affected adversely by the absence of adequate low-cost housing and environmental developments and improvements within the communities they serve and the state of Washington.The amount a mutual savings bank may invest under *this 1973 amendatory act during any twelve-month period at less than a market rate of return shall not exceed two percent of the total principal amount of all real estate loans made by the bank during the preceding twelve months.[ 1973 1st ex.s. c 31 § 4.]NOTES:*Reviser's note: "This 1973 amendatory act" consists of the enactment of RCW 32.20.450, 32.20.460, 32.20.470, 32.20.480, 32.20.490, and 32.20.500 and the amendments to RCW 32.20.280 and 32.20.330 by 1973 1st ex.s. c 31.Construction—1973 1st ex.s. c 31: See RCW 32.20.500.