reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.129 - Investment in obligations issued or guaranteed by multilateral development bank.

RCW 30A.04.129
Investment in obligations issued or guaranteed by multilateral development bank.
Any bank may invest in obligations issued or guaranteed by any multilateral development bank in which the United States government formally participates. Such investment in any one multilateral development bank shall not exceed five percent of the bank's paid-in capital and surplus.
[ 2014 c 37 § 114; 1985 c 301 § 2. Formerly RCW 30.04.129.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.130 - Defaulted debts, judgments to be charged off—Valuation of assets.

RCW 30A.04.130
Defaulted debts, judgments to be charged off—Valuation of assets.
Based on examinations directed pursuant to RCW 30A.04.060 or other appropriate information, all assets or portion thereof that the director may have required a bank to charge off shall be charged off. No bank shall enter or at any time carry on its books any of its assets or liabilities at a valuation contrary to generally accepted accounting principles.
[ 2014 c 37 § 115. Prior: 1994 c 256 § 34; 1994 c 92 § 16; 1986 c 279 § 6; 1955 c 33 § 30.04.130; prior: 1937 c 61 § 1; 1919 c 209 § 15; 1917 c 80 § 47; RRS § 3254. Formerly RCW 30.04.130.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.140 - Pledge of securities or assets prohibited—Exceptions.

RCW 30A.04.140
Pledge of securities or assets prohibited—Exceptions.
No bank shall pledge or hypothecate any of its securities or assets to any depositor, except that it may qualify as depositary for United States deposits, or other public funds, or funds held in trust and deposited by any public officer by virtue of his or her office, or as a depository for the money of estates under the statutes of the United States pertaining to bankruptcy or funds deposited by a trustee or receiver in bankruptcy appointed by any court of the United States or any referee thereof, or funds held by the United States or the state of Washington, or any officer thereof in trust, or for funds of corporations owned or controlled by the United States, and may give such security for such deposits as are required by law or by the officer making the same; and it may give security to its trust department for deposits with itself which represent trust funds invested in savings accounts or which represent fiduciary funds awaiting investment or distribution.
[ 2014 c 37 § 116; 2011 c 336 § 744; 1986 c 279 § 7; 1983 c 157 § 6; 1967 c 133 § 2; 1955 c 33 § 30.04.140. Prior: 1933 c 42 § 24, part; 1917 c 80 § 54, part; RRS § 3261, part. Formerly RCW 30.04.140.]
NOTES:
Severability—1983 c 157: See note following RCW 30A.04.060.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.180 - Dividends.

RCW 30A.04.180
Dividends.
No bank shall declare or pay any dividend to an amount greater than its retained earnings, without approval from the director. The director shall in his or her discretion have the power to require any bank to suspend the payment of any and all dividends until all requirements that may have been made by the director shall have been complied with; and upon such notice to suspend dividends no bank shall thereafter declare or pay any dividends until such notice has been rescinded in writing. A dividend is payable in cash, property, or capital stock, but the restrictions on the payment of a dividend (other than restrictions imposed by the director pursuant to his or her authority to require the suspension of the payment of any or all dividends) do not apply to a dividend payable by the bank solely in its own capital stock. For purposes of this section, "retained earnings" shall be determined by generally accepted accounting principles.
[ 2014 c 37 § 117. Prior: 1994 c 256 § 35; 1994 c 92 § 17; 1986 c 279 § 8; 1981 c 89 § 1; 1969 c 136 § 2; 1955 c 33 § 30.04.180; prior: 1933 c 42 § 7; 1931 c 11 § 1; 1917 c 80 § 33; RRS § 3240. Formerly RCW 30.04.180.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
Severability—1981 c 89: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1981 c 89 § 8.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.210 - Real estate holdings.

RCW 30A.04.210
Real estate holdings.
A bank may purchase, hold, and convey real estate for the following purposes:
(1) Such as shall be necessary for the convenient transaction of its business, including with its banking offices other space in the same building to rent as a source of income: PROVIDED, That any bank shall not invest for such purposes more than the greater of: (a) Fifty percent of its capital, surplus, and undivided profits; or (b) one hundred twenty-five percent of its capital stock without the approval of the director.
(2) Such as shall be purchased or conveyed to it in satisfaction, or on account of, debts previously contracted in the course of its business.
(3) Such as it shall purchase at sale under judgments, decrees, liens, or mortgage foreclosures, from debts owed to it.
(4) Such as a trust company receives in trust or acquires pursuant to the terms or authority of any trust.
(5) Such as it may take title to or for the purpose of investing in real estate conditional sales contracts.
(6) Such as shall be purchased, held, or conveyed in accordance with RCW 30A.04.212 granting banks the power to invest directly or indirectly in unimproved or improved real estate.
[ 2014 c 37 § 118. Prior: 1994 c 256 § 36; 1994 c 92 § 18; 1986 c 279 § 9; 1985 c 329 § 4; 1979 c 142 § 1; 1973 1st ex.s. c 104 § 2; 1955 c 33 § 30.04.210; prior: 1947 c 149 § 1; 1917 c 80 § 37; Rem. Supp. 1947 § 3244. Formerly RCW 30.04.210.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
Legislative intent—1985 c 329: See note following RCW 30A.60.010.
Effective date—1985 c 329: See RCW 30A.60.901.
Adoption of rules: RCW 30A.60.030.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.212 - Real property and improvements thereon.

RCW 30A.04.212
Real property and improvements thereon.
(1) In addition to the powers granted under RCW 30A.04.210 and subject to the limitations and restrictions contained in this section and in RCW 30A.60.010 and 30A.60.020, a bank:
(a) May acquire any interest in unimproved or improved real property;
(b) May construct, alter, and manage improvements of any description on real estate in which it holds a substantial equity interest.
(2) The powers granted under subsection (1) of this section do not include, and a bank may not:
(a) Manage any real property in which the bank does not own a substantial equity interest;
(b) Engage in activities of selling, leasing, or otherwise dealing in real property as an agent or broker; or
(c) Acquire any equity interest in any one to four-family dwelling that is used as a principal residence by the owner of the dwelling; however, this shall not prohibit a bank from making loans secured by such dwelling where all or part of the bank's anticipated compensation results from the appreciation and sale of such dwelling.
(3) The aggregate amount of funds invested under this section shall not exceed two percent of a bank's capital, surplus, and undivided profits. Such percentage amount shall be increased based upon the most recent community reinvestment rating assigned to a bank by the director in accordance with RCW 30A.60.010, as follows:
(a) Excellent performance: Increase to 10%
(b) Good performance: Increase to 8%
(c) Satisfactory performance: Increase to 6%
(d) Inadequate performance: Increase to 3%
(e) Poor performance: No increase
(4) For purposes of this section only, each bank will be deemed to have been assigned a community reinvestment rating of "1" for the period beginning with January 1, 1986, and ending December 31, 1986. Thereafter, each bank will be assigned an annual rating in accordance with RCW 30A.60.010, which rating shall remain in effect for the next succeeding year and until the director has conducted a new investigation and assigned a new rating for the next succeeding year, the process repeating on an annual basis.
(5) No bank may at any time be required to dispose of any investment made in accordance with this section due to the fact that the bank is not then authorized to acquire such investment, if such investment was lawfully acquired by the bank at the time of acquisition.
(6) The director shall limit the amount that may be invested in a single project or investment and may adopt any rule necessary to the safe and sound exercise of powers granted by this section.
[ 2014 c 37 § 119; 1994 c 92 § 19; 1985 c 329 § 5. Formerly RCW 30.04.212.]
NOTES:
Legislative intent—1985 c 329: See note following RCW 30A.60.010.
Effective date—1985 c 329: See RCW 30A.60.901.
Adoption of rules: RCW 30A.60.030.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.214 - Qualifying community investments.

RCW 30A.04.214
Qualifying community investments.
(1) An amount equal to ten percent of the aggregate amount invested in real estate in accordance with RCW 30A.04.212 shall be placed in qualifying community investments as defined in subsection (2) of this section.
(2) "Qualifying community investment" means any direct or indirect investment or extension of credit made by a bank in projects or programs designed to develop or redevelop areas in which persons with low or moderate incomes reside, designed to meet the credit needs of such low or moderate-income areas, or that primarily benefits low and moderate-income residents of such areas. The term includes, but is not limited to, any of the following within the state of Washington:
(a) Investments in governmentally insured, guaranteed, subsidized, or otherwise sponsored programs for housing, small farms, or businesses that address the needs of the low and moderate-income areas.
(b) Investments in residential mortgage loans, home improvements loans, housing rehabilitation loans, and small business or small farm loans originated in low and moderate-income areas, or the purchase of such loans originated in low and moderate-income areas.
(c) Investments for the preservation or revitalization of urban or rural communities in low and moderate-income areas.
The term does not include personal installment loans, loans made to purchase, or loans secured by an automobile.
(3) A qualifying community investment made by an entity that wholly owns a bank, is wholly owned by a bank, or is wholly owned by an entity that wholly owns the bank is deemed to have been made by a bank to satisfy the requirements of subsection (1) of this section.
[ 2014 c 37 § 120; 1985 c 329 § 6. Formerly RCW 30.04.214.]
NOTES:
Legislative intent—1985 c 329: See note following RCW 30A.60.010.
Effective date—1985 c 329: See RCW 30A.60.901.
Adoption of rules: RCW 30A.60.030.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.217 - Additional powers of a bank—Powers and authorities of savings bank—Definition—Restrictions.

RCW 30A.04.217
Additional powers of a bank—Powers and authorities of savings bank—Definition—Restrictions.
(1) Notwithstanding any other provisions of law, in addition to all powers, express or implied, that a bank has under the laws of this state, a bank shall have the powers and authorities conferred upon a savings bank under Title 32 RCW.
(2) As used in this section, "powers and authorities" include without limitation powers and authorities in corporate governance and operational matters.
(3) The restrictions, limitations, and requirements applicable to specific powers and authorities of savings banks shall apply to banks exercising those powers and authorities permitted under this section but only insofar as the restrictions, limitations, and requirements relate to exercising the powers and authorities granted banks solely under this section.
[ 2013 c 76 § 5; 2010 c 88 § 13; 2003 c 24 § 1. Formerly RCW 30.04.217.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.220 - Corporations existing under former laws.

RCW 30A.04.220
Corporations existing under former laws.
Every corporation, which on March 10, 1917, was actually and publicly engaged in banking or trust business in this state in full compliance with the laws hereof, which were in force immediately prior to March 10, 1917, may, if it otherwise complies with the provisions of this title, continue its said business, subject to the terms and regulations hereof and without amending its articles of incorporation, although its name and the amount of its capital stock, the number or length of terms of its directors or the form of its articles of incorporation do not comply with the requirements of this title: PROVIDED,
(1) That any such bank, which was by the director lawfully permitted to operate, although its capital stock was not fully paid in, shall pay in the balance of its capital stock at such times and in such amounts as the director may require;
(2) That, except with written permission of the director, any bank which shall amend its articles of incorporation must in such event comply with all the requirements of this title.
[ 2014 c 37 § 122; 1994 c 92 § 21; 1955 c 33 § 30.04.220. Prior: 1937 c 31 § 1; 1917 c 80 § 78; RRS § 3285. Formerly RCW 30.04.220.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.225 - Contributions and gifts.

RCW 30A.04.225
Contributions and gifts.
In the absence of an express prohibition in its articles of incorporation, the making of contributions or gifts for the public welfare, or for charitable, scientific, or educational purposes by a state bank is within its powers and shall be deemed to inure to the benefit of the bank.
[ 2014 c 37 § 123; 1986 c 279 § 11. Formerly RCW 30.04.225.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.232 - Additional authority of out-of-state holding company to acquire stock or assets of bank or national banking association.

RCW 30A.04.232
Additional authority of out-of-state holding company to acquire stock or assets of bank or national banking association.
(1) In addition to an acquisition pursuant to RCW 30A.04.230, an out-of-state bank holding company may acquire more than five percent of the voting stock or all or substantially all of the assets of a bank or national banking association, the principal operations of which are conducted within this state, if the bank or national banking association or its predecessor, the voting stock of which is to be acquired, shall have been conducting business for a period of not less than five years.
(2) The director, consistent with 12 U.S.C. Sec. 1842(d)(2)(D), may approve an acquisition if the standard on which the approval is based does not discriminate against out-of-state banks, out-of-state bank holding companies, or subsidiaries of those banks or holding companies.
(3) As used in this section, the terms "bank holding company," "domestic bank holding company," and "out-of-state bank holding company" shall have the meanings provided in RCW 30A.04.230.
[ 2014 c 37 § 125; 1996 c 2 § 3; 1994 c 92 § 23; 1985 c 310 § 1. Formerly RCW 30.04.232.]
NOTES:
Construction—1985 c 310: "Nothing in this act shall be deemed to expand or limit the power of a bank holding company or bank to engage in the insurance business." [ 1985 c 310 § 3.]
Effective date—1985 c 310: "This act shall take effect July 1, 1987." [ 1985 c 310 § 4.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.238 - Purchase of own capital stock authorized.

RCW 30A.04.238
Purchase of own capital stock authorized.
(1) Notwithstanding any other provision of this title, a bank, with the prior approval of the director, may purchase shares of its own capital stock.
(2) When a bank purchases such shares, its capital accounts shall be reduced appropriately. The shares shall be held as authorized but unissued shares.
[ 1994 c 92 § 24; 1986 c 279 § 12; 1985 c 305 § 1. Formerly RCW 30.04.238.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.260 - Legal services, advertising of—Penalty.

RCW 30A.04.260
Legal services, advertising of—Penalty.
(1) No person, other than an attorney-at-law or law firm as permitted by other law, which advertises that it will furnish legal advice, construct or prepare wills, or do other legal work for its customers, shall be permitted to act as executor, administrator, or guardian; and such person whose officers or agents shall solicit legal business shall be ineligible for a period of one year thereafter to be appointed executor, administrator, or guardian in any of the courts of this state.
(2) Any person authorized under this title or Title 30B RCW to engage in a trust business, which advertises that it will furnish legal advice, construct or prepare wills, or do other legal work for its customers, and any officer, agent, or employee of such person who shall solicit legal business is guilty of a gross misdemeanor.
[ 2014 c 37 § 127; 2013 c 76 § 7; 2003 c 53 § 185; 1974 ex.s. c 117 § 43; 1955 c 33 § 30.04.260. Prior: 1929 c 72 § 4, part; 1923 c 115 § 6, part; 1921 c 94 § 1, part; 1917 c 80 § 24, part; RRS § 3231, part. Formerly RCW 30.04.260.]
NOTES:
Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.
Application, construction—Severability—Effective date—1974 ex.s. c 117: See RCW 11.02.080 and notes following.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.280 - Compliance enjoined—Banking, trust business, branches—Director's authority—Rules.

RCW 30A.04.280
Compliance enjoined—Banking, trust business, branches—Director's authority—Rules.
(1)(a) No person shall engage in banking except in compliance with and subject to the provisions of this title, unless it is a national bank or except insofar as it may be authorized so to do by the laws of this state relating to savings banks or savings and loan associations.
(b) A person shall not engage in a trust business except in compliance with and subject to the provisions of this title. This subsection (1)(b) does not apply to: (i) An individual, sole proprietor, general partnership, or joint venture composed of individuals; (ii) a person conducting business as an attorney-at-law or law firm; or (iii) a court-appointed guardian, conservator, trustee, or receiver.
(c) A bank shall not engage in a trust business except as authorized under this title.
(d) A bank or trust company shall not establish any branch except in accordance with the provisions of this title.
(e) Except as authorized by federal law or by another law of this state, a nondepositary trust company incorporated under the laws of another state shall not be permitted to engage in a trust business in this state on more favorable terms and conditions than the terms and conditions on which trust companies incorporated under this chapter and savings banks engaged in trust business under RCW 32.08.140, 32.08.142, 32.08.210, and 32.08.215 are permitted to engage in trust business in such other state.
(2) Notwithstanding any other provision of this section, the director may by rule or order prohibit any person from engaging in a trust business in this state contrary to the requirements of this title if the conduct of the trust business in this state by such person harms or is likely to harm the general public, or if it adversely affects the business of trust companies operating in this state. The director may issue a temporary cease and desist order against such person in the manner provided for in *RCW 30.04.455 if the general public or trust companies are likely to be substantially injured by delay in issuing a cease and desist order. An order or rule made by the director pursuant to this subsection may require that any applicable person obtain a trust company charter under this title as a condition of continuing to engage in a trust business in this state, subject to meeting all qualifications for grant of a trust company charter under this title. This subsection does not apply to a person conducting business as an attorney-at-law or law firm or to a court-appointed guardian, conservator, trustee, or receiver.
[ 2013 c 76 § 8; 1998 c 45 § 1; 1996 c 2 § 4; 1955 c 33 § 30.04.280. Prior: 1933 c 42 § 3, part; 1919 c 209 § 7, part; 1917 c 80 § 15, part; RRS § 3222, part. Formerly RCW 30.04.280.]
NOTES:
*Reviser's note: RCW 30.04.455 was recodified as RCW 30A.04.455 pursuant to 2014 c 37 § 4, effective January 5, 2015.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.285 - Director's approval of a branch—Satisfactory financial condition—Affiliated commercial locations.

RCW 30A.04.285
Director's approval of a branch—Satisfactory financial condition—Affiliated commercial locations.
(1) The director's approval of a branch within the United States or any territory of the United States or in any foreign country shall be conditioned on a finding by the director that the bank has a satisfactory record of compliance with applicable laws and has a satisfactory financial condition. A bank chartered under this title may exercise any powers and authorities at any branch outside Washington that are permissible for a bank operating in that state where the branch is located, except to the extent those activities are expressly prohibited by the laws of this state or by any rule or order of the director applicable to the state bank. However, the director may waive any limitation in writing with respect to powers and authorities that the director determines do not threaten the safety or soundness of the state bank.
(2) An out-of-state bank may acquire, establish, or maintain a branch in Washington within one mile of an affiliate commercial location only to the same extent permitted for a Washington bank under applicable state and federal law. For purposes of this subsection, "bank" means any national bank, state bank, and district bank, as defined in 12 U.S.C. Sec. 1813(a); "out-of-state bank" means a bank whose home state is a state other than Washington; and "Washington bank" means a bank whose home state is Washington. "Home state" has the same meaning as defined in RCW 30A.38.005.
[ 2014 c 37 § 128; 2007 c 167 § 1; 1996 c 2 § 6. Formerly RCW 30.04.285.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.295 - Agency agreements—Written notice to director.

RCW 30A.04.295
Agency agreements—Written notice to director.
On or before the date on which a bank enters into any agency agreement authorizing another entity, as agent of the bank, to receive deposits or renew time deposits, the bank shall give written notice to the director of the existence of that agency arrangement. The notice is not effective until it has been delivered to the office of the director.
[ 1996 c 2 § 7. Formerly RCW 30.04.295.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.300 - Foreign branch banks.

RCW 30A.04.300
Foreign branch banks.
A branch of any foreign bank or banker actually and publicly engaged in banking in this state on March 10, 1917, in full compliance with the laws hereof, which were in force immediately prior to March 10, 1917, and which branch has a capital not less in amount than that required for the organization of a state bank as provided in this title at the time and place when and where such branch was established, may continue its said business, subject to all of the regulations and supervision provided for banks. The amount upon which it pays taxes shall be prima facie evidence of the amount and existence of such capital. No such bank or banker shall set forth on its or his or her stationery or in any manner advertise in this state a greater capital, surplus and undivided profits than are actually maintained at such branch. Every foreign corporation, bank and banker, and every officer, agent, and employee thereof who violates any provision of this section or which violates the terms of the resolution filed as required by *RCW 30.04.290 shall for each violation forfeit and pay to the state of Washington the sum of one thousand dollars. A civil action for the recovery of any such sum may be brought by the attorney general in the name of the state.
[ 2011 c 336 § 745; 1955 c 33 § 30.04.300. Prior: 1917 c 80 § 41; RRS § 3248. Formerly RCW 30.04.300.]
NOTES:
*Reviser's note: RCW 30.04.290 was repealed by 1994 c 256 § 124, without cognizance of its amendment by 1994 c 92 § 27. It has been decodified for publication purposes pursuant to RCW 1.12.025. RCW 30.04.290 was subsequently repealed by 1997 c 101 § 7.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.330 - Saturday closing authorized.

RCW 30A.04.330
Saturday closing authorized.
Any bank, which term for the purpose of this section shall include but not be limited to any state bank, national bank or association, mutual savings bank, savings and loan association, federal reserve bank, federal home loan bank, and federal savings and loan association, federal credit union, and state credit union doing business in this state, may remain closed on Saturdays and any Saturday on which a bank remains closed shall be, with respect to such bank, a holiday and not a business day. Any act, authorized, required or permitted to be performed at or by or with respect to any bank, as herein defined, on a Saturday, may be performed on the next succeeding business day, and no liability or loss of rights of any kind shall result from such closing.
[ 2014 c 37 § 129; 1955 c 33 § 30.04.330. Prior: 1947 c 221 § 1; Rem. Supp. 1947 § 3292a. Formerly RCW 30.04.330.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.375 - Investment in stock, participation certificates, and other evidences of participation.

RCW 30A.04.375
Investment in stock, participation certificates, and other evidences of participation.
Any bank may invest in the stock or participation certificates of production credit associations, federal intermediate credit banks and the stock or other evidences of participation of federal land banks in amounts consistent with safe and sound practice in conducting the business of the bank.
[ 2014 c 37 § 130; 1982 c 86 § 1. Formerly RCW 30.04.375.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.380 - Investment in paid-in capital stock and surplus of banks or corporations engaged in international or foreign banking.

RCW 30A.04.380
Investment in paid-in capital stock and surplus of banks or corporations engaged in international or foreign banking.
Any bank may invest an amount not exceeding ten per centum of its paid-in capital stock and surplus in the stock of one or more banks or corporations chartered under the laws of the United States, or of any state thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions.
[ 2014 c 37 § 131; 1986 c 279 § 13; 1973 1st ex.s. c 104 § 9. Formerly RCW 30.04.380.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.390 - Acquisition of stock of banks organized under laws of foreign country, etc.

RCW 30A.04.390
Acquisition of stock of banks organized under laws of foreign country, etc.
Any bank may acquire and hold, directly or indirectly, stock or other evidence of indebtedness or ownership in one or more banks organized under the law of a foreign country or a dependency or insular possession of the United States.
[ 2014 c 37 § 132; 1986 c 279 § 14; 1973 1st ex.s. c 104 § 10. Formerly RCW 30.04.390.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.395 - Continuing authority for investments.

RCW 30A.04.395
Continuing authority for investments.
Any investment by a bank other than a loan, if legal and authorized when made, may continue to be held by the bank notwithstanding a change in circumstances or change in the law.
[ 1986 c 279 § 16. Formerly RCW 30.04.395.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.400 - Bank acquisition or control—Definitions.

RCW 30A.04.400
Bank acquisition or control—Definitions.
As used in RCW 30A.04.400 through 30A.04.410, the following words shall have the following meanings:
(1) "Control" means directly or indirectly alone or in concert with others to own, control, or hold the power to vote twenty-five percent or more of the outstanding stock or voting power of the "controlled" entity;
(2) "Acquiring party" means the person acquiring control of a bank through the purchase of stock; and
(3) "Person" means any individual, corporation, partnership, association, business trust, or other organization.
[ 2014 c 37 § 133; 1977 ex.s. c 246 § 1. Formerly RCW 30.04.400.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.410 - Bank acquisition or control—Disapproval by director—Change of officers.

RCW 30A.04.410
Bank acquisition or control—Disapproval by director—Change of officers.
(1) The director may disapprove the acquisition of a bank within thirty days after the filing of a complete application pursuant to RCW 30A.04.405 or an extended period not exceeding an additional fifteen days if:
(a) The poor financial condition of any acquiring party might jeopardize the financial stability of the bank or might prejudice the interests of the bank depositors, borrowers, or shareholders;
(b) The plan or proposal of the acquiring party to liquidate the bank, to sell its assets, to merge it with any person, or to make any other major change in its business or corporate structure or management is not fair and reasonable to the bank's depositors, borrowers, or stockholders or is not in the public interest;
(c) The banking and business experience and integrity of any acquiring party who would control the operation of the bank indicates that approval would not be in the interest of the bank's depositors, borrowers, or shareholders;
(d) The information provided by the application is insufficient for the director to make a determination or there has been insufficient time to verify the information provided and conduct an examination of the qualification of the acquiring party; or
(e) The acquisition would not be in the public interest.
(2) An acquisition may be made prior to expiration of the disapproval period if the director issues written notice of intent not to disapprove the action.
(3) The director shall set forth the basis for disapproval of any proposed acquisition in writing and shall provide a copy of such findings and order to the applicants and to the bank involved. Such findings and order shall not be disclosed to any other party and shall not be subject to public disclosure under chapter 42.56 RCW unless the findings and/or order are appealed pursuant to chapter 34.05 RCW.
(4) Whenever such a change in control occurs, each party to the transaction shall report promptly to the director any changes or replacement of its chief executive officer, or of any director, that occurs in the next twelve-month period, including in its report a statement of the past and present business and professional affiliations of the new chief executive officer or directors.
[ 2014 c 37 § 135; 2005 c 274 § 253; 1994 c 92 § 30; 1989 c 180 § 3; 1977 ex.s. c 246 § 3. Formerly RCW 30.04.410.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.455 - Temporary cease and desist order—Reasons for issuance.

RCW 30A.04.455
Temporary cease and desist order—Reasons for issuance.
(1) The director may also issue a temporary order requiring a bank or its holding company, or both, to cease and desist from any action or omission, as specified in RCW 30A.04.450, or its continuation, which the director has determined:
(a) Constitutes an unsafe and unsound practice or a material violation of RCW 30A.04.050 affecting the bank;
(b) Has resulted in the bank being less than adequately capitalized; or
(c) Is likely to cause insolvency or substantial dissipation of assets or earnings of the bank or to otherwise seriously prejudice the interests of its depositors or trust beneficiaries.
(2) The order is effective upon service on the bank or holding company, and remains in effect unless set aside, limited, or suspended by the superior court in proceedings under RCW 30A.04.460 pending the completion of the administrative proceedings under the notice and until such time as the director dismisses the charges specified in the notice or until the effective date of a cease and desist order issued against the bank or holding company under RCW 30A.04.450.
[ 2014 c 37 § 137; 2010 c 88 § 16; 1994 c 92 § 32; 1977 ex.s. c 178 § 2. Formerly RCW 30.04.455.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.460 - Temporary cease and desist order—Injunction to set aside, limit, or suspend temporary order.

RCW 30A.04.460
Temporary cease and desist order—Injunction to set aside, limit, or suspend temporary order.
(1) Within ten days after a bank or holding company has been served with a temporary cease and desist order, the bank or holding company 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 pursuant to the notice served under RCW 30A.04.455.
(2) The superior court shall have jurisdiction to issue the injunction.
[ 2014 c 37 § 138; 2010 c 88 § 17; 1977 ex.s. c 178 § 3. Formerly RCW 30.04.460.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.465 - Violations or unsafe or unsound practices—Injunction to enforce temporary order.

RCW 30A.04.465
Violations or unsafe or unsound practices—Injunction to enforce temporary order.
In the case of a violation or threatened violation of a temporary cease and desist order issued under RCW 30A.04.455, the director may apply to the superior court of the county of the principal place of business of the bank 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.
[ 2014 c 37 § 139; 1994 c 92 § 33; 1977 ex.s. c 178 § 4. Formerly RCW 30.04.465.]
NOTES:
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.475 - Order to refrain from violations or practices—Jurisdiction of courts in enforcement or issuance of orders, injunctions, or judicial review.

RCW 30A.04.475
Order to refrain from violations or practices—Jurisdiction of courts in enforcement or issuance of orders, injunctions, or judicial review.
(1) The director may apply to the superior court of the county of the principal place of business of the bank affected for the enforcement of any effective and outstanding order issued under RCW 30A.04.450, 30A.04.455, 30A.04.465, or 30A.12.042, and the court shall have jurisdiction to order compliance therewith.
(2) No court shall have jurisdiction to affect by injunction or otherwise the issuance or enforcement of any order or to review, modify, suspend, terminate, or set aside any order except as provided in RCW 30A.04.460, 30A.04.465, and 30A.04.470.
[ 2014 c 37 § 141; 2010 c 88 § 19; 1994 c 92 § 35; 1977 ex.s. c 178 § 9. Formerly RCW 30.04.475.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.500 - Fairness in lending act—Short title.

RCW 30A.04.500
Fairness in lending act—Short title.
RCW 30A.04.505 through 30A.04.515 shall be known and may be cited as the "fairness in lending act".
[ 2014 c 37 § 142; 1977 ex.s. c 301 § 10. Formerly RCW 30.04.500.]
NOTES:
Unfair practices of financial institutions: RCW 49.60.175.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.505 - Fairness in lending act—Definitions.

RCW 30A.04.505
Fairness in lending act—Definitions.
As used in RCW 30A.04.505 through 30A.04.515:
(1) "Financial institution" means any bank, savings bank, credit union, mortgage company, or savings and loan association which operates or has a place of business in this state whether regulated by the state or federal government.
(2) "Particular type of loan" refers to a class of loans which is substantially similar with respect to the following:
(a) FHA, VA, or conventional loans;
(b) Uniform or nonuniform payment;
(c) Uniform or nonuniform rate of interest;
(d) Purpose; and
(e) The location of the real estate offered as security for the loan as being inside or outside of that financial institution's lending area.
(3) "Varying the terms of a loan" includes, but is not limited to the following practices:
(a) Requiring a greater down payment than is usual for the particular type of a loan involved;
(b) Requiring a shorter period of amortization than is usual for the particular type of loan involved;
(c) Charging a higher interest rate than is usual for the particular type of loan involved;
(d) A deliberate underappraisal of the value of the property offered as security.
[ 2014 c 37 § 143; 1977 ex.s. c 301 § 11. Formerly RCW 30.04.505.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.510 - Fairness in lending act—Unlawful practices.

RCW 30A.04.510
Fairness in lending act—Unlawful practices.
Subject to RCW 30A.04.515, it shall be unlawful for any financial institution, in processing any application for a loan to be secured by a single-family residence to:
(1) Deny or vary the terms of a loan on the basis that a specific parcel of real estate offered as security is located in a specific geographical area, unless building, remodeling, or continued habitation in such specific geographical area is prohibited or restricted by any local, state, or federal law or rules or regulations promulgated thereunder.
(2) Utilize lending standards that have no economic basis.
[ 2014 c 37 § 144; 1977 ex.s. c 301 § 12. Formerly RCW 30.04.510.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.515 - Fairness in lending act—Sound underwriting practices not precluded.

RCW 30A.04.515
Fairness in lending act—Sound underwriting practices not precluded.
Nothing contained in RCW 30A.04.505 through [and] 30A.04.510 shall preclude a financial institution from considering sound underwriting practices in processing any application for a loan to any person. Such practices shall include the following:
(1) The willingness and the financial ability of the borrower to repay the loan.
(2) The market value of any real estate and of any other item of property proposed as security for any loan.
(3) Diversification of the financial institution's investment portfolio.
[ 2014 c 37 § 145; 1977 ex.s. c 301 § 13. Formerly RCW 30.04.515.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.550 - Reorganization as subsidiary of bank holding company—Authority.

RCW 30A.04.550
Reorganization as subsidiary of bank holding company—Authority.
A state banking corporation may, with the approval of the director and the affirmative vote of the shareholders of such corporation owning at least two-thirds of each class of shares entitled to vote under the terms of such shares, be reorganized to become a subsidiary of a bank holding company or a company that will, upon consummation of such reorganization, become a bank holding company, as defined in the federal bank holding company act of 1956, as amended.
[ 1994 c 92 § 36; 1986 c 279 § 40; 1982 c 196 § 1. Formerly RCW 30.04.550.]
NOTES:
Severability—1982 c 196: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1982 c 196 § 11.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.555 - Reorganization as subsidiary of bank holding company—Procedure.

RCW 30A.04.555
Reorganization as subsidiary of bank holding company—Procedure.
A reorganization authorized under RCW 30A.04.550 shall be carried out in the following manner:
(1) A plan of reorganization specifying the manner in which the reorganization shall be carried out must be approved by a majority of the entire board of directors of the banking corporation. The plan shall specify the name of the acquiring corporation, the amount of cash, securities of the bank holding company, other consideration, or any combination thereof to be paid to the shareholders of the reorganizing corporation in exchange for their shares of the stock of the corporation. The plan shall also specify the exchange date or the manner in which such exchange date shall be determined, the manner in which the exchange shall be carried out, and such other matters, not inconsistent with this chapter, as shall be determined by the board of directors of the corporation.
(2) The plan of reorganization shall be submitted to the shareholders of the reorganizing corporation at a meeting to be held on the call of the directors. Notice of the meeting of shareholders at which the plan shall be considered shall be given by prepaid first-class mail at least twenty days before the date of the meeting, to each stockholder of record of the banking corporation. The notice shall state that dissenting shareholders will be entitled to payment of the value of only those shares which are voted against approval of the plan.
[ 2014 c 37 § 146; 1994 c 256 § 38; 1986 c 279 § 41; 1982 c 196 § 2. Formerly RCW 30.04.555.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
Severability—1982 c 196: See note following RCW 30A.04.550.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.560 - Reorganization as subsidiary of bank holding company—Dissenter's rights—Conditions.

RCW 30A.04.560
Reorganization as subsidiary of bank holding company—Dissenter's rights—Conditions.
If the shareholders approve the reorganization by a two-thirds vote of each class of shares entitled to vote under the terms of such shares, and if it is thereafter approved by the director and consummated, any shareholder of the banking corporation who has voted shares against such reorganization at such meeting or has given notice in writing at or prior to such meeting to the banking corporation that he or she dissents from the plan of reorganization and has not voted in favor of the reorganization, shall be entitled to receive the value of the shares determined as provided in RCW 30A.04.565. Such dissenter's rights must be exercised by making written demand which shall be delivered to the corporation at any time within thirty days after the date of shareholder approval, accompanied by the surrender of the appropriate stock certificates.
[ 2014 c 37 § 147; 1994 c 92 § 37; 1986 c 279 § 42; 1982 c 196 § 3. Formerly RCW 30.04.560.]
NOTES:
Severability—1982 c 196: See note following RCW 30A.04.550.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.04 - General Provisions. › 30A.04.565 - Reorganization as subsidiary of bank holding company—Valuation of shares of dissenting shareholders.

RCW 30A.04.565
Reorganization as subsidiary of bank holding company—Valuation of shares of dissenting shareholders.
The value of the shares of a dissenting shareholder who has properly perfected dissenter's rights shall be ascertained as of the day prior to the date of the shareholder action approving such reorganization 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 acquiring bank holding company, and the third by the two so chosen. The valuation agreed upon by any two appraisers shall govern. 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 the third appraisal, and the acquiring bank holding company shall bear the cost of its appraisal and one-half of the cost of the third appraisal. If the appraisal is not completed within ninety days after the effective date of the reorganization, the director shall cause an appraisal to be made which shall be final and binding upon all parties. The cost of such appraisal shall be borne equally by the dissenting shareholders and the acquiring bank holding company. The dissenting shareholders shall share their half of the cost on a pro rata basis based on the number of dissenting shares owned.
[ 1994 c 256 § 39; 1994 c 92 § 38; 1982 c 196 § 4. Formerly RCW 30.04.565.]
NOTES:
Reviser's note: This section was amended by 1994 c 92 § 38 and by 1994 c 256 § 39, each without reference to the other. Both amendments are incorporated in the publication of this section pursuant to RCW 1.12.025(2). For rule of construction, see RCW 1.12.025(1).
Findings—Construction—1994 c 256: See RCW 43.320.007.
Severability—1982 c 196: See note following RCW 30A.04.550.