reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.34 - Merger, Consolidation, Conversion, Etc. › 32.34.010 - Conversion of domestic savings bank—Rights, powers, etc., of successor institution.

RCW 32.34.010
Conversion of domestic savings bank—Rights, powers, etc., of successor institution.
(1) A domestic savings bank formed or converted under this title may convert itself into a state or federal credit union or a federal mutual or stock savings bank, national bank or, within the meaning of *chapter 30.49 RCW, a resulting state bank. The conversion shall be effected, notwithstanding any restrictions, limitations, and requirements of law:
(a) In the case of the conversion of a mutual savings bank without capital stock to a state or federal credit union or a federal mutual savings bank, by the vote of two-thirds of the trustees at a regular or special meeting of the trustees called for such purpose;
(b) In the case of the conversion of a stock savings bank to a federal stock savings bank, national bank or, within the meaning of *chapter 30.49 RCW, a resulting state bank, by the vote of a majority of the stockholders present, in person or by proxy, at a regular or special meeting of the stockholders called for such purpose;
(c) In the case of the conversion of a savings bank to a federal credit union, federal savings bank, or national bank, in compliance with the procedure, if any, prescribed by the laws of the United States.
(2) Notice of the meeting, stating the purpose thereof, shall be given the director at least thirty days prior to the meeting. If the conversion is authorized by the trustees or stockholders at the meeting, the trustees or stockholders are authorized and shall effect such action, and the officers of the savings bank shall execute all proper conveyances, documents, and other papers necessary or proper thereunto. If conversion is authorized, a copy of the minutes of the meeting shall be filed forthwith with the director.
(3) Upon consummation of the conversion, the successor credit union, federal savings bank, national bank, or resulting state bank shall succeed to all right, title, and interest of the mutual or stock bank, respectively, in and to its assets and to its liabilities to the creditors of the savings bank. Upon the conversion, after the execution and delivery of all instruments of transfer, conveyance, and assignment, the domestic savings bank shall be deemed dissolved.
(4) Every federal savings bank, the home office of which is located in this state, and the savings accounts therein, have all the rights, powers, and privileges and are entitled to the same immunities and exemptions as pertain to savings banks organized under the laws of this state.
[ 1999 c 14 § 32; 1994 c 92 § 406; 1983 c 45 § 1.]
NOTES:
*Reviser's note: Chapter 30.49 RCW was recodified as chapter 30A.49 RCW pursuant to 2014 c 37 § 4, effective January 5, 2015.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.34 - Merger, Consolidation, Conversion, Etc. › 32.34.020 - Conversion of federal savings bank, national bank, or state commercial bank to domestic savings bank.

RCW 32.34.020
Conversion of federal savings bank, national bank, or state commercial bank to domestic savings bank.
(1) A federal savings bank, the home office of which is located in this state, a national bank, the head office of which is located in this state, or a state commercial bank incorporated under *chapter 30.08 RCW or resulting under **chapter 30.49 RCW may convert itself into a domestic savings bank under this title upon approval by the director. For any such conversion, the federal savings bank, national bank, or state commercial bank shall proceed as provided in this chapter for the conversion of a domestic savings bank into a federal savings bank, national bank, or resulting bank under **chapter 30.49 RCW. The conversion shall be effected by the vote of a majority of the members or stockholders present, in person or by proxy, at a regular or special meeting of the members or stockholders called for such purpose.
(2) Upon consummation of the conversion, the successor domestic savings bank shall succeed to all right, title, and interest of the federal savings bank in and to its assets, and to its liabilities to the creditors of such federal savings bank, national bank, or a state bank.
[ 1999 c 14 § 33; 1994 c 92 § 407; 1983 c 45 § 2.]
NOTES:
Reviser's note: *(1) Chapter 30.08 RCW was recodified as chapter 30A.08 RCW pursuant to 2014 c 37 § 4, effective January 5, 2015.
**(2) Chapter 30.49 RCW was recodified as chapter 30A.49 RCW pursuant to 2014 c 37 § 4, effective January 5, 2015.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.34 - Merger, Consolidation, Conversion, Etc. › 32.34.025 - Conversion of stock savings bank to savings bank without capital stock.

RCW 32.34.025
Conversion of stock savings bank to savings bank without capital stock.
(1) The conversion of a stock savings bank to a savings bank without capital stock requires the affirmative vote or written consent of two-thirds of the directors of the savings bank and requires the affirmative vote of two-thirds of the outstanding stock of the savings bank. The conversion shall proceed as prescribed in chapter 32.32 RCW subject to the authority of the director under RCW 32.32.010 and is complete upon the payment into the guaranty fund of the resulting savings bank without capital stock of any surplus remaining after satisfaction of all debts and liabilities of the savings bank, including but not limited to liabilities to dissenting shareholders under RCW 32.34.060.
(2) Any stock savings bank may provide in its articles of incorporation for a higher percentage of affirmative shareholder votes to approve a conversion to a savings bank without capital stock.
[ 1999 c 14 § 34.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.34 - Merger, Consolidation, Conversion, Etc. › 32.34.040 - Savings bank holding companies—Savings bank subsidiaries.

RCW 32.34.040
Savings bank holding companies—Savings bank subsidiaries.
(1) No savings bank having capital stock may establish a holding company to own all its stock without the approval of the director. Upon tender of their shares of the converted savings bank, the shareholders of the savings bank shall receive all the shares of the holding company which are outstanding at the time of this tender.
(2) Any company owning more than twenty-five percent of the outstanding voting stock of a savings bank doing business under this Title 32 RCW shall, in addition to the restrictions of RCW 32.32.228, be subject to regulation as a savings bank holding company. Any savings bank holding company which is not subject to regulation by the federal reserve board or the federal home loan bank board, and all holding company subsidiaries engaging in businesses which are not subject to regulation or licensing by the federal home loan bank board, the director, the commissioner of insurance, or the administrator authorized to regulate loan companies doing business under Title 31 RCW, will be subject to such regulation of accounting practices and of the qualifications of directors and officers, and such inspection and visitation by the director as the director shall deem appropriate, subject to the limitations imposed on regulation, inspection, and visitation of a savings bank under this title. In addition, any savings bank holding company and all holding company subsidiaries will be subject to visitation by the director as such shall deem appropriate, subject to the limitations imposed on visitation of a savings bank under this Title 32 RCW and under the supremacy clause of the Constitution of the United States. The savings bank subsidiary of this holding corporation may engage in subsequent mergers, consolidations, acquisitions, and conversions, only to the extent authorized by RCW 32.32.500, and only upon complying with the applicable requirements in RCW 32.34.030 and this chapter.
(3) In the event a savings bank forms a subsidiary to carry out any of the powers of savings banks under this title, any institution with which this subsidiary merges shall continue to be subject to regulation, inspection, and visitation by the director if the subsidiary is authorized to do business by Title 33 RCW.
[ 1994 c 92 § 408; 1985 c 56 § 34.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.34 - Merger, Consolidation, Conversion, Etc. › 32.34.050 - Business trusts for the benefit of depositors.

RCW 32.34.050
Business trusts for the benefit of depositors.
A savings bank not having capital stock may establish a business trust for the benefit of its depositors, with the approval of the director and subject to such rules as the director may adopt. The director may permit this business trust to become a mutual holding company owning all shares of an interim stock savings bank, the sole purpose of which shall be to merge into the mutual savings bank that formed the business trust. The depositors in an unconverted savings bank which has merged with the subsidiary of such a mutual holding company, in the event of a later conversion of this mutual holding company to the stock form, shall retain all their rights to their deposits in the savings bank, and shall also receive, without payment, nontransferable rights to subscribe for the stock of the holding company, and rights to a liquidation account maintained by the holding company in proportion to their deposits in the savings bank, to the same extent that they would receive these rights in a stock conversion of the savings bank as prescribed in chapter 32.32 RCW.
[ 1994 c 92 § 409; 1985 c 56 § 35.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.34 - Merger, Consolidation, Conversion, Etc. › 32.34.060 - Voluntary liquidation, conversion, acquisition, merger, and consolidation—Right of dissenting shareholder to receive value of shares—Determination.

RCW 32.34.060
Voluntary liquidation, conversion, acquisition, merger, and consolidation—Right of dissenting shareholder to receive value of shares—Determination.
(1) Any holder of shares of a savings bank shall be entitled to receive the value of these shares, as specified in subsection (2) of this section, if (a) the savings bank is voluntarily liquidating, converting to a savings bank without capital stock, being acquired, merging, or consolidating, (b) the shareholder voted, in person or by proxy, against the liquidation, conversion, acquisition, merger, or consolidation, at a meeting of shareholders called for the purpose of voting on such transaction, and (c) the shareholder delivers a written demand for payment, with the stock certificates, to the savings bank within thirty days after such meeting of shareholders. The value of shares shall be paid in cash, within ten days after the later of the effective date of the transaction or the completion of the appraisal as specified in subsection (2) of this section.
(2) The value of such shares shall be determined as of the close of business on the business day before the shareholders' meeting at which the shareholder dissented, by three appraisers, one to be selected by the owners of two-thirds of the dissenting shares, one by the board of directors of the institution that will survive the transaction, and the third by the two so chosen. The valuation agreed upon by any two appraisers shall govern. If such appraisal is not completed by the later of the effective date of the transaction or the thirty-fifth day after receipt of the written demand and stock certificates, the director shall cause an appraisal to be made.
(3) The dissenting shareholders shall bear, on a pro rata basis based on the number of dissenting shares owned, the cost of their appraisal and one-half of the cost of a third appraisal, and the surviving institution shall bear the cost of its appraisal and one-half the cost of the third appraisal. If the director causes an appraisal to be made, the cost of that appraisal shall be borne equally by the dissenting shareholders and the surviving institution, with the dissenting shareholders sharing their half of the cost on a pro rata basis based on the number of dissenting shares owned.
The institution that is to survive the transaction may fix an amount which it considers to be not more than the fair market value of the shares of a savings bank at the time of the stockholder's meeting approving the transaction, which it will pay dissenting shareholders entitled to payment in cash. The amount due under such accepted offer or under the appraisal shall constitute a debt of the surviving institution.
[ 1999 c 14 § 35; 1994 c 256 § 116; 1985 c 56 § 36.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.010 - Incorporators—Paid-in capital stock, surplus, and undivided profits—Requirements.

RCW 32.35.010
Incorporators—Paid-in capital stock, surplus, and undivided profits—Requirements.
When authorized by the director, one or more natural persons, citizens of the United States, may incorporate a stock savings bank in the manner prescribed under this chapter. No stock savings bank may incorporate for less amount nor commence business unless it has a paid-in capital stock, surplus and undivided profits in the amount as may be determined by the director after consideration of the proposed location, management, and the population and economic characteristics for the area, the nature of the proposed activities and operation of the stock savings bank, and other factors deemed pertinent by the director. Before commencing business, each stock savings bank shall have subscribed and paid into it in the same manner as is required for capital stock, an amount equal to at least ten percent of the capital stock required, that shall be carried in the undivided profit account and may be used to defray organization and operating expenses of the company. Any sum not so used shall be transferred to the surplus fund of the company before any dividend shall be declared to the stockholders.
[ 1999 c 14 § 1.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.020 - Notice of intention to organize—Proposed articles of incorporation—Contents.

RCW 32.35.020
Notice of intention to organize—Proposed articles of incorporation—Contents.
Persons desiring to incorporate a stock savings bank shall file with the director a notice of their intention to organize a stock savings bank in such form and containing such information as the director shall require, together with proposed articles of incorporation, which shall be submitted for examination to the director at his or her office.
The proposed articles of incorporation shall state:
(1) The name of the stock savings bank;
(2) The city, village, or locality and county where the head office of the corporation is to be located;
(3) The nature of its business, that of a stock savings bank;
(4) The amount of its capital stock, which shall be divided into shares of a par or no par value as may be provided in the articles of incorporation;
(5) The names and places of residence and mailing addresses of the persons who as directors are to manage the corporation until the first annual meeting of its stockholders;
(6) If there is to be preferred or special classes of stock, a statement of preferences, voting rights, if any, limitations and relative rights in respect of the shares of each class; or a statement that the shares of each class shall have the attributes as shall be determined by the stock savings bank's board of directors from time to time with the approval of the director;
(7) Any provision granting the shareholders the preemptive right to acquire additional shares of the stock savings bank and any provision granting shareholders the right to cumulate their votes;
(8) Any provision, not inconsistent with law, which the incorporators elect to set forth in the articles of incorporation for the regulation of the affairs of the corporation, including any provision restricting the transfer of shares, any provision which under this title is required or permitted to be set forth in the bylaws, and any provision permitted by RCW 23B.17.030;
(9) Any provision the incorporators elect to so set forth, not inconsistent with law or the purposes for which the stock savings bank is organized, or any provision limiting any of the powers granted in this title.
It is not necessary to set forth in the articles of incorporation any of the corporate powers granted in this title. The articles of incorporation shall be signed by all of the incorporators.
[ 1999 c 14 § 2.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.030 - Investigation.

RCW 32.35.030
Investigation.
When the notice of intention to organize and proposed articles of incorporation complying with RCW 32.35.020 have been received by the director, together with the fees required by law, the director shall ascertain from the best source of information at his or her command and by such investigation as he or she may deem necessary, whether the character, responsibility and general fitness of the persons named in the articles are such as to command confidence and warrant belief that the business of the proposed stock savings bank will be honestly and efficiently conducted in accordance with the intent and purpose of this title, whether the resources in the neighborhood of such place and in the surrounding country afford a reasonable promise of adequate support for the proposed stock savings bank, and whether the proposed stock savings bank is being formed for other than the legitimate objects covered by this title.
[ 1999 c 14 § 3.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.040 - Notice to file articles—Articles approved or refused—Hearing.

RCW 32.35.040
Notice to file articles—Articles approved or refused—Hearing.
After the director is satisfied of the *above facts, and, within six months of the date the notice of intention to organize has been received in his or her office, the director shall notify the incorporators to file executed articles of incorporation with the director in triplicate. Unless the director otherwise consents in writing, such articles shall be in the same form and shall contain the same information as the proposed articles and shall be filed with the director within ten days of such notice. Within thirty days after the receipt of such articles of incorporation, the director shall endorse upon each of the copies, over his or her official signature, the word "approved," or the word "refused," with the date of such endorsement. In case of refusal the director shall immediately return one of the copies, so endorsed, together with a statement explaining the reason for refusal to the person from whom the articles were received, which refusal shall be conclusive, unless the incorporators, within ten days of the issuance of such notice of refusal, shall request a hearing pursuant to the administrative procedure act, chapter 34.05 RCW.
[ 1999 c 14 § 4.]
NOTES:
*Reviser's note: The term "above facts" apparently refers to the investigation required under RCW 32.35.030.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.050 - Approved articles to be filed and recorded—Organization complete.

RCW 32.35.050
Approved articles to be filed and recorded—Organization complete.
In case of approval the director shall immediately give notice to the proposed incorporators and file one of the copies of the articles of incorporation in his or her own office, and shall transmit another copy to the secretary of state, and the last to the incorporators. Upon receipt from the proposed incorporators of the fees as are required for filing and recording other articles of incorporation, the secretary of state shall file and record the articles. Upon the filing of articles of incorporation approved by the director with the secretary of state, all persons named in the articles and their successors shall become and be a corporation, which shall have the powers and be subject to the duties and obligations prescribed by this title, and whose existence shall continue from the date of the filing of such articles until terminated pursuant to law; but such corporation shall not transact any business except as is necessarily preliminary to its organization until it has received a certificate of authority.
[ 1999 c 14 § 5.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.055 - Amending articles—Filing with director—Contents.

RCW 32.35.055
Amending articles—Filing with director—Contents.
A stock savings bank amending its articles of incorporation shall deliver articles of amendment to the director for filing as required for articles of incorporation. The articles of amendment shall set forth:
(1) The name of the stock savings bank;
(2) The text of each amendment adopted;
(3) The date of each amendment's adoption;
(4) If the amendment was adopted by the incorporators or board of directors without shareholder action, a statement to that effect and that shareholder action was not required; and
(5) If shareholder action was required, a statement that the amendment was duly approved by the shareholders in accordance with the provisions of RCW 32.32.490.
[ 1999 c 14 § 6.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.060 - Certificate of authority—Issuance—Contents.

RCW 32.35.060
Certificate of authority—Issuance—Contents.
Before any stock savings bank is authorized to do business, and within ninety days after approval of the articles of incorporation or such other time as the director may allow, it shall furnish proof satisfactory to the director that such corporation has a paid-in capital in the amount determined by the director, that the requisite surplus or reserve fund has been accumulated or paid in cash, and that it has in good faith complied with all the requirements of law and fulfilled all the conditions precedent to commencing business imposed by this title. If so satisfied, and within thirty days after receipt of such proof, the director shall issue under his or her hand and official seal, in triplicate, a certificate of authority for such corporation. The certificate shall state that the named corporation has complied with the requirements of law and that it is authorized to transact the business of a stock savings bank. However, the director may make his or her issuance of the certificate to a stock savings bank authorized to accept deposits, conditional upon the granting of deposit insurance by the federal deposit insurance corporation, and in such event, shall set out such condition in a written notice which shall be delivered to the corporation.
One of the triplicate certificates shall be transmitted by the director to the corporation and one of the other two shall be filed by the director in the office of the secretary of state and shall be attached to the articles of incorporation. However, if the issuance of the certificate is made conditional upon the granting of deposit insurance by the federal deposit insurance corporation, the director shall not transmit or file the certificate until such condition is satisfied.
[ 1999 c 14 § 7.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.070 - Failure to commence business—Effect—Extension of time.

RCW 32.35.070
Failure to commence business—Effect—Extension of time.
Every corporation authorized by the laws of this state to do business as a stock savings bank, which corporation shall have failed to organize and commence business within six months after certificate of authority to commence business has been issued by the director, shall forfeit its rights and privileges as such corporation, which fact the director shall certify to the secretary of state, and such certificate of forfeiture shall be filed and recorded in the office of the secretary of state in the same manner as the certificate of authority. However, the director may, upon showing of cause satisfactory to him or her, issue an order under his or her hand and seal extending for not more than three months the time within which such organization may be effected and business commenced, such order to be transmitted to the office of the secretary of state and filed and recorded.
[ 1999 c 14 § 8.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.080 - Extension of existence—Application—Investigation—Certificate—Appeal—Winding up for failure to continue existence.

RCW 32.35.080
Extension of existence—Application—Investigation—Certificate—Appeal—Winding up for failure to continue existence.
At any time not less than one year prior to the expiration of the time of the existence of any mutual savings bank or stock savings bank, it may by written application to the director, signed and verified by a majority of its directors and approved in writing by the owners of not less than two-thirds of its capital stock, apply to the director for leave to file amended articles of incorporation, extending its time of existence. Prior to acting upon such application, the director shall make such investigation of the applicant as he or she deems necessary. If the director determines that the applicant is in sound condition, that it is conducting its business in a safe manner and in compliance with law and that no reason exists why it should not be permitted to continue, he or she shall issue to the applicant a certificate authorizing it to file amended articles of incorporation extending the time of its existence until such time as it be dissolved by the act of its shareholders owning not less than two-thirds of its stock, or until its certificate of authority becomes revoked or forfeited by reason of violation of law, or until its affairs be taken over by the director for legal cause and finally wound up by him or her. Otherwise the director shall notify the applicant that he or she refuses to grant such certificate. The applicant may appeal from such refusal in the same manner as in the case of a refusal to grant an original certificate of authority. Otherwise the determination of the director shall be conclusive.
Upon receiving a certificate, as hereinabove provided, the applicant may file amended articles of incorporation, extending the time of its existence for the term authorized, to which shall be attached a copy of the certificate of the director. Such articles shall be filed in the same manner and upon payment of the same fees as for original articles of incorporation.
Should any mutual savings bank or stock savings bank fail to continue its existence in the manner provided and be not previously dissolved, the director shall at the end of its original term of existence immediately take possession of the corporation and wind up its affairs in the same manner as in the case of insolvency.
[ 1999 c 14 § 9.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.35 - Stock Savings Banks. › 32.35.090 - Shares—Certificates not required.

RCW 32.35.090
Shares—Certificates not required.
(1) Shares of a stock savings bank may, but need not be, represented by certificates. Unless this title expressly provides otherwise, the rights and obligations of shareholders are identical whether or not their shares are represented by certificates. At a minimum, each share certificate must state the information required to be stated and must be signed as provided in RCW 23B.06.250 and/or 23B.06.270 for corporations.
(2) Unless the articles of incorporation or bylaws provide otherwise, the board of directors of a stock savings bank may authorize the issue of some or all of the shares of any or all of its classes or series without certificates. The authorization does not affect shares already represented by certificates until they are surrendered to the stock savings bank.
(3) Within a reasonable time after the issue or transfer of shares without certificates, the stock savings bank shall send the shareholder a written statement of the information required to be stated on certificates under subsection (1) of this section.
[ 1999 c 14 § 10.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.40 - Community Credit Needs. › 32.40.020 - Approval and disapproval of applications—Consideration of performance record in meeting community credit needs.

RCW 32.40.020
Approval and disapproval of applications—Consideration of performance record in meeting community credit needs.
Whenever the director must approve or disapprove of an application for a new branch or satellite facility; for a purchase of assets, a merger, an acquisition or a conversion not required for solvency reasons; or for authority to engage in a business activity, the director shall consider, among other factors, the record of performance of the applicant in helping to meet the credit needs of the applicant's entire community, including low and moderate-income neighborhoods. Assessment of an applicant's record of performance may be the basis for denying an application.
[ 1994 c 92 § 411; 1985 c 329 § 9.]
NOTES:
Legislative intent—1985 c 329: See note following RCW 30A.60.010.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.40 - Community Credit Needs. › 32.40.030 - Adoption of rules.

RCW 32.40.030
Adoption of rules.
The director shall adopt all rules necessary to implement RCW 32.40.010 and 32.40.020 by January 1, 1986.
[ 1994 c 92 § 412; 1985 c 329 § 10.]
NOTES:
Legislative intent—1985 c 329: See note following RCW 30A.60.010.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.005 - Definitions.

RCW 32.50.005
Definitions.
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
(1) "Unsafe condition" means and includes, but is not limited to, any one or more of the following circumstances:
(a) If a savings bank is less than well-capitalized;
(b) If a savings bank or holding company violates the provisions of Title 32 RCW or any other law or regulation applicable to savings banks;
(c) If a savings bank conducts a fraudulent or questionable practice in the conduct of its business that endangers the savings bank's reputation or threatens its solvency;
(d) If a savings bank conducts its business in an unsafe or unauthorized manner;
(e) If a savings bank violates any conditions of its charter or any agreement entered with the director; or
(f) If a savings bank fails to carry out any authorized order or direction of the examiner or the director.
(2) "Exceeded its powers" means and includes, but is not limited to the following circumstances:
(a) If a savings bank has refused to permit examination of its books, papers, accounts, records, or affairs by the director, assistant director, or duly commissioned examiners; or
(b) If a savings bank has neglected or refused to observe an order of the director to make good, within the time prescribed, any impairment of its capital.
(3) "Consent" means and includes a written agreement by the savings bank to either supervisory direction or conservatorship under this chapter.
[ 2010 c 88 § 65.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.010 - Determination of unsafe condition—Notice—List of director's requirements—Conservator.

RCW 32.50.010
Determination of unsafe condition—Notice—List of director's requirements—Conservator.
If upon examination or at any other time it appears to the director that any savings bank is in an unsafe condition and its condition is such as to render the continuance thereof hazardous to the public or to its depositors or trust beneficiaries and creditors, or if such savings bank appears to have exceeded its powers or has failed to comply with the law, or if such savings bank gives its consent, then the director shall upon his or her determination (1) notify the savings bank of his or her determination, (2) furnish to the savings bank a written list of the director's requirements to abate his or her determination, and (3) if the director makes further determination to directly supervise, he or she shall notify the savings bank that it is under the supervisory direction of the director and that the director is invoking the provisions of this chapter. If placed under supervisory direction the savings bank shall comply with the lawful requirements of the director within such time as provided in the notice of the director, subject however, to the provisions of this chapter. If the savings bank fails to comply within such time the director may appoint a conservator as hereafter provided.
[ 2010 c 88 § 66.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.020 - Director may appoint representative—Restrictions placed on savings bank.

RCW 32.50.020
Director may appoint representative—Restrictions placed on savings bank.
During the period of supervisory direction the director may appoint a representative to supervise such savings bank and may provide that the savings bank may not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed representative:
(1) Dispose of, convey, or encumber any of the assets;
(2) Withdraw any of its bank accounts;
(3) Lend any of its funds;
(4) Invest any of its funds;
(5) Transfer any of its property; or
(6) Incur any debt, obligation, or liability.
[ 2010 c 88 § 67.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.030 - Failure of savings bank to comply—Appointment of conservator—Powers and duties of conservator, immunity.

RCW 32.50.030
Failure of savings bank to comply—Appointment of conservator—Powers and duties of conservator, immunity.
(1) After the period of supervisory direction specified by the director for compliance, if he or she determines that such savings bank has failed to comply with the lawful requirements imposed, upon due notice and hearing by the department or by consent of the savings bank, the director may appoint a conservator, who shall immediately take charge of such savings bank and all of its property, books, records, and effects. The conservator shall conduct the business of the savings bank and take such steps toward the removal of the causes and conditions which have necessitated such order, as the director may direct. During the pendency of the conservatorship the conservator shall make such reports to the director from time to time as may be required by the director, and shall be empowered to take all necessary measures to preserve, protect, and recover any assets or property of such savings bank, including claims or causes of actions belonging to or which may be asserted by such bank, and to deal with the same in his or her own name as conservator, and shall be empowered to file, prosecute, and defend any suit and suits which have been filed or which may thereafter be filed by or against such savings bank which are deemed by the conservator to be necessary to protect all of the interested parties for a property affected thereby. The director, or any newly appointed assistant, may be appointed to serve as conservator. If the director, however, is satisfied that such savings bank is not in condition to continue business in the interest of its depositors or creditors under the conservator under this section, the director may proceed with appropriate remedies provided by other provisions of this title.
(2) A person appointed as conservator by the director pursuant to this chapter is immune from criminal, civil, and administrative liability for any act done in good faith in the performance of the duties of conservator.
[ 2013 c 76 § 28; 2010 c 88 § 68.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.040 - Costs of supervisory direction and conservatorship.

RCW 32.50.040
Costs of supervisory direction and conservatorship.
All costs incident to supervisory direction and the conservatorship shall be fixed and determined by the director and shall be a charge against the assets of the savings bank to be allowed and paid as the director may determine.
[ 2010 c 88 § 69.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.050 - Request for review of actions taken by representative or conservator.

RCW 32.50.050
Request for review of actions taken by representative or conservator.
During the period of the supervisory direction and during the period of conservatorship, the savings bank may request the director to review an action taken or proposed to be taken by the representative or conservator; specifying wherein the action complained of is believed not to be in the best interest of the savings bank, and such request shall stay the action specified pending review of such action by the director. Any order entered by the director appointing a representative and providing that the savings bank shall not do certain acts as provided in RCW 32.50.020 and 32.50.030, any order entered by the director appointing a conservator, and any order by the director following the review of an action of the representative or conservator under this section shall be subject to review in accordance with the administrative procedure act of the state of Washington.
[ 2010 c 88 § 70.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.060 - Suit filed after savings bank in conservatorship.

RCW 32.50.060
Suit filed after savings bank in conservatorship.
Any suit filed against a savings bank, or its conservator, after the entrance of an order by the director placing such savings bank in conservatorship and while such order is in effect, shall be brought in the superior court of the county of its principal place of business and not elsewhere. The conservator appointed for such savings bank may file suit in the superior court of the county of its principal place of business or other court of competent jurisdiction against any person for the purpose of preserving, protecting, or recovering any asset or property of such savings bank, including claims or causes of action belonging to or which may be asserted by such savings bank.
[ 2010 c 88 § 71.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.070 - Duration of conservatorship.

RCW 32.50.070
Duration of conservatorship.
The conservator shall serve for such time as is necessary to accomplish the purposes of the conservatorship as intended by this chapter. If rehabilitated, the rehabilitated savings bank shall be returned to management or new managements under such conditions as are reasonable and necessary to prevent recurrence of the condition which occasioned the conservatorship.
[ 2010 c 88 § 72.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.080 - Authority of director to act—Administrative discretion.

RCW 32.50.080
Authority of director to act—Administrative discretion.
If the director determines to act under authority of this chapter, the sequence of his or her acts and proceedings shall be as set forth in this chapter. However, it is the purpose and substance of this chapter to authorize administrative discretion, to allow the director administrative discretion in the event of unsound banking operations, and in furtherance of that purpose the director is hereby authorized to proceed with regulation either under this chapter or under any other applicable provisions of law or under this chapter in connection with other law, either as such law is now existing or is hereinafter enacted, and it is so provided.
[ 2010 c 88 § 73.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions. › 32.50.900 - Effective date—2010 c 88.

RCW 32.50.900
Effective date—2010 c 88.
This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [March 17, 2010].
[ 2010 c 88 § 76.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.98 - Construction. › 32.98.010 - Continuation of existing law.

RCW 32.98.010
Continuation of existing law.
The provisions of this title insofar as they are substantially the same as statutory provisions repealed by this chapter and relating to the same subject matter, shall be construed as restatements and continuations, and not as new enactments.
[ 1955 c 13 § 32.98.010.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.98 - Construction. › 32.98.020 - Title, chapter, section headings not part of law.

RCW 32.98.020
Title, chapter, section headings not part of law.
Title headings, chapter headings, and section or subsection headings, as used in this title do not constitute any part of the law.
[ 1955 c 13 § 32.98.020.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.98 - Construction. › 32.98.030 - Invalidity of part of title not to affect remainder.

RCW 32.98.030
Invalidity of part of title not to affect remainder.
If any provision of this title, or its application to any person or circumstance is held invalid, the remainder of the title, or the application of the provision to other persons or circumstances is not affected.
[ 1955 c 13 § 32.98.030.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.98 - Construction. › 32.98.060 - Emergency—1955 c 13.

RCW 32.98.060
Emergency—1955 c 13.
This act is necessary for the immediate preservation of the public peace, health and safety, the support of the state government and its existing public institutions, and shall take effect immediately.
[ 1955 c 13 § 32.98.060.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › RCW Dispositions › 33.04 GENERAL PROVISIONS

Sections
33.04.010 Director to act for and in lieu of subordinates, when.
[1994 c 92 § 415; 1982 c 3 § 3; 1945 c 235 § 119-A; Rem. Supp. 1945 § 3717-238. Prior: 1935 c 171 § 5; 1933 c 183 § 2; 1890 p 56 § 22.]
Repealed by 1997 c 101 § 7.
33.04.040 Examination of foreign association or corporation — Expense.
[1945 c 235 § 97; Rem. Supp. 1945 § 3717-216. Prior: 1933 c 183 § 94; 1919 c 169 § 12; 1913 c 110 § 19; 1890 p 56 § 9.]
Repealed by 1982 c 3 § 115.
33.04.050 Actions and proceedings.
[1945 c 235 § 101; Rem. Supp. 1945 § 3717-220. Prior: 1933 c 183 §§ 94, 97.]
Repealed by 1982 c 3 § 115.
33.04.070 Appointment and qualifications of supervisor.
Cross-reference section, decodified September 2003.
33.04.080 Secrecy required of supervisor.
Cross-reference section, decodified.
33.04.100 Public funds may be invested in savings and loan associations.
[1951 c 6 § 1.]
Now codified as RCW 33.52.010.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › RCW Dispositions › 33.12 POWERS AND RESTRICTIONS

Sections
33.12.020 Demand accounts prohibited.
[1980 c 54 § 2; 1945 c 235 § 30; Rem. Supp. 1945 § 3717-149. Prior: 1939 c 98 § 7; 1933 c 183 § 48; 1913 c 110 § 12.]
Repealed by 1994 c 256 § 124.
33.12.030 Assets, how held and carried.
[1945 c 235 § 31; Rem. Supp. 1945 § 3717-150. Prior: 1933 c 183 § 81.]
Repealed by 1982 c 3 § 115.
33.12.040 Management agreements prohibited.
[1945 c 235 § 33; Rem. Supp. 1945 § 3717-152. Prior: 1933 c 183 § 61.]
Repealed by 1982 c 3 § 115.
33.12.050 Borrowing and pledging securities.
[1961 c 222 § 1; 1945 c 235 § 34; Rem. Supp. 1945 § 3717-153. Prior: 1939 c 98 § 7; 1933 c 183 § 48; 1903 c 116 § 3; 1890 p 56 § 6.]
Repealed by 1982 c 3 § 115.
33.12.070 Limit of bank deposits.
[1945 c 235 § 36; Rem. Supp. 1945 § 3717-155.]
Repealed by 1982 c 3 § 115.
33.12.080 Deposits in bank of which director is officer.
[1945 c 235 § 37; Rem. Supp. 1945 § 3717-156.]
Repealed by 1982 c 3 § 115.
33.12.090 Dividends.
[1967 c 49 § 2; 1963 c 246 § 3; 1953 c 71 § 3; 1945 c 235 § 49; Rem. Supp. 1945 § 3717-168. Prior: 1939 c 98 § 13; 1933 c 183 §§ 64, 65; 1925 ex.s. c 144 § 4; 1919 c 169 § 6; 1913 c 110 § 7.]
Repealed by 1982 c 3 § 115.
33.12.100 Dividends — Time of payment — Reserve accounts.
[1953 c 71 § 4; 1949 c 20 § 3; 1945 c 235 § 50; Rem. Supp. 1949 § 3717-169. Prior: 1939 c 98 § 13; 1933 c 183 §§ 64, 65; 1925 ex.s. c 144 § 4; 1919 c 169 § 6; 1913 c 110 § 7.]
Repealed by 1967 c 49 § 9.
33.12.110 Segregating assets — Transfer to new corporation.
[1945 c 235 § 55; Rem. Supp. 1945 § 3717-174. Prior: 1939 c 98 § 6; 1935 c 171 § 2; 1933 c 183 § 47.]
Repealed by 1982 c 3 § 115.
33.12.120 Segregation corporation debentures — Liquidation.
[1945 c 235 § 56; Rem. Supp. 1945 § 3717-175. Prior: 1939 c 98 § 6; 1935 c 171 § 1; 1933 c 183 § 47.]
Repealed by 1982 c 3 § 115.
33.12.130 Available fund requirements.
[1967 c 49 § 3; 1961 c 222 § 3; 1959 c 280 § 2; 1949 c 20 § 5; 1945 c 235 § 57; Rem. Supp. 1949 § 3717-176. Prior: 1941 c 222 § 3; 1939 c 98 § 8; 1935 c 171 § 2; 1933 c 183 § 49; 1903 c 116 § 3; 1890 p 56 §§ 6, 15.]
Repealed by 1982 c 3 § 115.
33.12.160 Federal insurance reserve fund may be credited to contingent fund.
[1949 c 20 § 4; 1947 c 257 § 4; 1945 c 235 § 52; Rem. Supp. 1949 § 3717-171.]
Repealed by 1982 c 3 § 115.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › RCW Dispositions › 33.16 DIRECTORS, OFFICERS, AND EMPLOYEES

Sections
33.16.070 Compensation.
[1945 c 235 § 21; Rem. Supp. 1945 § 3717-140. Prior: 1933 c 183 § 16.]
Repealed by 1982 c 3 § 115.
33.16.100 Reports on sales and purchases.
[1945 c 235 § 24; Rem. Supp. 1945 § 3717-143. Prior: 1933 c 183 § 19.]
Repealed by 1982 c 3 § 115.
33.16.110 Budget — Limit of expenses.
[1975 1st ex.s. c 165 § 2; 1973 c 130 § 25; 1945 c 235 § 25; Rem. Supp. 1945 § 3717-144. Prior: 1941 c 222 § 5; 1933 c 183 §§ 19, 66; 1919 c 169 § 9; 1913 c 110 § 15.]
Repealed by 1982 c 3 § 115.
33.16.140 Official communications.
[1945 c 235 § 18; Rem. Supp. 1945 § 3717-137. Prior: 1933 c 183 § 80.]
Repealed by 1982 c 3 § 115.
33.16.160 Board to designate depositaries.
[1947 c 257 § 2; 1945 c 235 § 26; Rem. Supp. 1947 § 3717-145. Prior: 1933 c 183 §§ 19, 59.]
Repealed by 1982 c 3 § 115.