reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.010 - Directors—Number—Vacancies.

RCW 33.16.010
Directors—Number—Vacancies.
The business and affairs of every association shall be managed and controlled by a board of not less than seven nor more than fifteen directors, a majority of which shall not be officers or employees of the association. The persons designated in the articles of incorporation shall be the first directors.
Vacancies in the board of directors shall be filled by vote of the members at the annual meetings or at a special meeting called for the purpose. The board of directors may fill vacancies occurring on the board, such appointees to serve until the next annual meeting of the members.
[ 1947 c 257 § 1; 1945 c 235 § 14; Rem. Supp. 1947 § 3717-133. Prior: 1933 c 183 § 11; 1925 ex.s. c 144 § 3; 1919 c 169 § 3; 1913 c 110 § 4; 1890 p 56 § 32.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.020 - Directors—Qualifications—Eligibility.

RCW 33.16.020
Directors—Qualifications—Eligibility.
The board of directors shall be elected at the annual meeting, unless the bylaws of the association otherwise provide.
A person shall not be a director of an association if the person has been adjudicated bankrupt or has taken the benefit of any assignment for the benefit of creditors or has suffered a judgment recovered against him or her for a sum of money to remain unsatisfied of record or unsuperseded on appeal for a period of more than three months.
To be eligible to hold the position of director of an association, a person must have savings or stock or a combination thereof in the sum or the aggregate sum of at least one thousand dollars. Such minimum amount shall not be reduced either by withdrawal or by pledge for a loan or in any other manner, so long as he or she remains a director of the association.
[ 2011 c 336 § 757; 1982 c 3 § 28; 1963 c 246 § 5; 1945 c 235 § 15; Rem. Supp. 1945 § 3717-134. Prior: 1933 c 183 §§ 12, 14; 1925 ex.s. c 144 § 3; 1919 c 169 § 3; 1913 c 110 § 4.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.030 - Directors—Prohibited acts.

RCW 33.16.030
Directors—Prohibited acts.
A director of a savings and loan association shall not, except to the extent permitted for a director of a federal savings and loan association:
(1) Have any interest, direct or indirect, in the gains or profits of the association, except to receive dividends, or interest upon his or her contribution to the contingent fund or upon his or her deposit accounts. However, nothing in this subsection shall prevent an officer from receiving his or her authorized compensation nor from participating in a benefit program under RCW 33.16.150, nor prevent a director from receiving an authorized director's fee;
Receive and retain, directly or indirectly, for his or her own use any commission on any loan, or purchase of real property or securities, made by the association;
(2) Become an endorser, surety, or guarantor, or in any manner an obligor, for any loan made by the association;
(3) For himself or herself or as agent, partner, stockholder, or officer of another, directly or indirectly, borrow from the association, except as hereinafter provided.
[ 1994 c 256 § 122; 1982 c 3 § 29; 1945 c 235 § 16; Rem. Supp. 1945 § 3717-135. Prior: 1933 c 183 §§ 21, 62.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.040 - Removal of director, officer or employee on objection of director of financial institutions—Procedure.

RCW 33.16.040
Removal of director, officer or employee on objection of director of financial institutions—Procedure.
If the director shall notify the board of directors of any association in writing, that he or she has information that any director, officer, or employee of such association is dishonest, reckless, or incompetent or is failing to perform any duty of his or her office, the board shall meet and consider such matter forthwith and the director shall have notice of the time and place of such meeting. If the board shall find the director's objection to be well-founded, such director, officer, or employee shall be removed immediately. If the board does not remove the director, officer, or employee against whom the objections have been filed, or if the board fails to meet, consider or act upon the objections within twenty days after receiving the same, the director may forthwith or within twenty days thereafter, remove such individual by complying with the administrative procedure act, chapter 34.05 RCW. If the director feels that the public interest or safety of the association requires the immediate removal of such individual, the director may petition the superior court for a temporary injunction suspending the performance of the individual as a director pending the administrative procedure hearing.
[ 1994 c 92 § 439; 1982 c 3 § 30; 1973 c 130 § 21; 1945 c 235 § 17; Rem. Supp. 1945 § 3717-136. Prior: 1933 c 183 § 18.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1973 c 130: See note following RCW 33.24.350.
Appointment of provisional officers and directors: RCW 33.40.150.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.050 - Removal of director for cause—When—Procedure.

RCW 33.16.050
Removal of director for cause—When—Procedure.
If a director becomes ineligible or if the director's conduct or habits are such as to reflect discredit upon the association or if other good cause exists, the director may be removed from office by an affirmative vote of two-thirds of the members of the board of directors at any regular meeting of the board or at any special meeting called for that purpose. No such vote upon removal of a director shall be taken until the director has been advised of the reasons therefor and has had opportunity to submit to the board of directors a statement relative thereto, either oral or written. If the director affected is present at the meeting, he or she shall leave the place where the meeting is being held after his or her statement has been submitted and prior to the vote upon the matter of his or her removal.
[ 2011 c 336 § 758; 1982 c 3 § 31; 1945 c 235 § 19; Rem. Supp. 1945 § 3717-138. Prior: 1933 c 183 § 17; 1925 ex.s. c 144 § 3; 1919 c 169 § 3; 1913 c 110 § 4.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.060 - Fiduciary relationship of directors and officers.

RCW 33.16.060
Fiduciary relationship of directors and officers.
Directors and officers of an association shall be deemed to stand in a fiduciary relation to the association and shall discharge the duties of their respective positions in good faith and with that diligence, care, and skill which ordinary, prudent persons would exercise under similar circumstances in like position.
[ 1982 c 3 § 32; 1945 c 235 § 20; Rem. Supp. 1945 § 3717-139. Prior: 1933 c 183 § 15; 1925 ex.s. c 144 § 3; 1919 c 169 § 3; 1913 c 110 § 4.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.080 - Officers—Election—Service.

RCW 33.16.080
Officers—Election—Service.
The board of directors of the association shall elect the officers named in the bylaws of the association, which officers shall serve at the pleasure of the board.
[ 1982 c 3 § 33; 1945 c 235 § 22; Rem. Supp. 1945 § 3717-141. Prior: 1939 c 98 § 2; 1933 c 183 §§ 19, 20.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.090 - Board meetings—Notice—Quorum.

RCW 33.16.090
Board meetings—Notice—Quorum.
The board of directors of each association shall hold a regular meeting at least once each quarter and whenever required by the director, at a time to be designated by it. Special meetings of the board of directors may be held upon notice to each director sufficient to permit his or her attendance.
At any meeting of the board of directors, a majority of the members shall constitute a quorum for the transaction of business.
The president of the association or chair of the board or any three members of the board may call a meeting of the board by giving notice to all of the directors.
[ 2011 c 336 § 759; 1994 c 256 § 123; 1982 c 3 § 34; 1945 c 235 § 23; Rem. Supp. 1945 § 3717-142. Prior: 1933 c 183 § 19.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.120 - Statement of assets and liabilities—Reports.

RCW 33.16.120
Statement of assets and liabilities—Reports.
The board of directors shall cause to be prepared, from the books of the association, a statement of assets and of liabilities, at the end of the association's fiscal year.
The board shall also cause to be prepared, certified, and filed with the director, upon blanks to be furnished by the director, such reports and statements as the director, from time to time, may require.
[ 1994 c 92 § 440; 1982 c 3 § 35; 1973 c 130 § 23; 1945 c 235 § 27; Rem. Supp. 1945 § 3717-146. Prior: 1933 c 183 § 79; 1919 c 169 §§ 11, 12; 1913 c 110 §§ 18, 19; 1890 p 56 §§ 18, 36.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1973 c 130: See note following RCW 33.24.350.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.130 - Bonds of officers and employees.

RCW 33.16.130
Bonds of officers and employees.
The board of directors of every association shall procure a bond or bonds, covering all of its active officers, agents, and employees, whether or not they draw salary or compensation, with duly qualified corporate surety authorized to do business in the state of Washington, conditioned that the surety will indemnify and save harmless the association against any and all loss or losses arising through the larceny, theft, embezzlement, or other fraudulent or dishonest act or acts of any such officer, agent, or employee. Such bond coverage may provide for a deductible amount from any loss which otherwise would be recoverable from the corporate surety. A deductible amount may be applied separately to one or more bonding agreements. The bond shall not provide for more than one deductible amount from all losses caused by the same person or caused by the same persons acting in collusion or combination in cases in which such losses result from dishonesty of employees (as defined in the bond).
Such bond or bonds shall be in such amount, as to each of said officers or employees, as the directors shall deem advisable, and said bond or bonds shall be subject to the approval of the director and shall be filed with him or her. The board shall review such bond, or bonds, at its regular meeting in January of each year, and by resolution determine such bond coverage for the ensuing year.
[ 1994 c 92 § 441; 1979 c 113 § 4; 1945 c 235 § 28; Rem. Supp. 1945 § 3717-147. Prior: 1939 c 98 § 2; 1933 c 183 § 20; 1925 ex.s. c 144 § 3; 1919 c 169 § 3; 1913 c 110 § 4; 1890 p 56 § 21.]
NOTES:
Severability—1979 c 113: See note following RCW 33.04.020.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.16 - Directors, Officers, and Employees. › 33.16.150 - Pensions, retirement plans and other benefits.

RCW 33.16.150
Pensions, retirement plans and other benefits.
An association may provide for pensions, retirement plans and other benefits for its officers and employees, and may contribute to the cost thereof in accordance with the plan adopted by its board of directors. Any officer or employee of the association who is also a director or any director who has been an officer or employee is eligible for and may receive such pension, retirement plan, or other benefit to the extent that the officer or employee regularly participates or the director while an officer or employee regularly participated in the operation of the association.
[ 1982 c 3 § 36; 1945 c 235 § 38; Rem. Supp. 1945 § 3717-157.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.005 - Deposits by individuals governed by chapter 30.22 RCW.

RCW 33.20.005
Deposits by individuals governed by chapter 30.22 RCW.
Deposits made by individuals in an association are governed by *chapter 30.22 RCW.
[ 1981 c 192 § 29.]
NOTES:
*Reviser's note: Chapter 30.22 RCW was recodified as chapter 30A.22 RCW pursuant to 2014 c 37 § 4, effective January 5, 2015.
Effective date—1981 c 192: See RCW 30A.22.900.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.010 - Mutual association member's interest in assets—Meetings—Voting—Proxies.

RCW 33.20.010
Mutual association member's interest in assets—Meetings—Voting—Proxies.
Each member having deposits in a mutual association shall have a proportionate proprietary interest in its assets or net earnings subordinate to the claims of its other creditors. At any meeting of the members of a mutual association, each member shall be entitled to at least one vote. A mutual association, by its bylaws, may provide that each member shall be entitled to one vote for each one hundred dollars of the member's deposit account. At any meeting of the members, voting may be in person or by proxy. Proxies shall be in writing and signed by the member and, when filed with the secretary, shall continue in force until revoked or superseded by subsequent proxies. Written notice of the time and place of the holding of special meetings (other than the regular annual meeting) shall be mailed to each member at his or her last known address not more than thirty days, nor less than ten days prior to the meeting. The regular annual meeting of the mutual association shall be announced by publication of a notice thereof in a newspaper published in the city or town, or, if the association is not in a city or town, in the county in which the association is located at least ten days prior to the date of such meeting, or by ten days' written notice to the members mailed to the last known address of each member.
[ 2011 c 336 § 760; 1982 c 3 § 37; 1969 c 107 § 4; 1949 c 20 § 2; 1945 c 235 § 12; Rem. Supp. 1949 § 3717-131. Prior: 1933 c 183 §§ 13, 39; 1919 c 169 § 4; 1913 c 110 § 5; 1903 c 116 § 6; 1890 p 56 § 39.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.040 - Minors as members.

RCW 33.20.040
Minors as members.
Subject to *chapter 30.22 RCW, minors may become depositors or members of an association and all contracts entered into between a minor and an association, with respect to his or her membership or his or her deposits therein, shall be valid and enforceable, and a minor may not disaffirm, because of his or her minority, any such membership or agreement in connection therewith.
[ 2011 c 336 § 761; 1982 c 3 § 38; 1981 c 192 § 30; 1945 c 235 § 41; Rem. Supp. 1945 § 3717-160. Prior: 1933 c 183 §§ 24, 40; 1919 c 169 § 5; 1913 c 110 § 6.]
NOTES:
*Reviser's note: Chapter 30.22 RCW was recodified as chapter 30A.22 RCW pursuant to 2014 c 37 § 4, effective January 5, 2015.
Severability—1982 c 3: See note following RCW 33.04.002.
Effective date—1981 c 192: See RCW 30A.22.900.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.060 - State, political subdivisions, fiduciaries as depositors.

RCW 33.20.060
State, political subdivisions, fiduciaries as depositors.
The state of Washington and the political subdivisions thereof, and trustees, administrators, executors, guardians, and other fiduciaries, either individual or corporate, in their fiduciary capacity, may be depositors in associations.
[ 1982 c 3 § 39; 1945 c 235 § 44; Rem. Supp. 1945 § 3717-163.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.125 - Record of member deposits—As in lieu of passbook, statement, or certificate of deposit.

RCW 33.20.125
Record of member deposits—As in lieu of passbook, statement, or certificate of deposit.
An association shall maintain a record of all deposits received from its members. The issuance of a passbook, statement, or certificate may be omitted for any account if a record thereof is maintained in lieu of a passbook, statement, or certificate of deposit, on which shall be entered deposits, withdrawals, and interest credited.
[ 1982 c 3 § 40.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.130 - Dormant accounts.

RCW 33.20.130
Dormant accounts.
When any savings member shall have neither paid in nor withdrawn any funds from his or her savings account in the association for seven consecutive years, and his or her whereabouts is unknown to the association and he or she shall not respond to a letter from the association inquiring as to his or her whereabouts, sent by registered mail to his or her last known address, the association may transfer his or her account to a "Dormant Accounts" fund. Any savings account in the "Dormant Accounts" fund shall not participate in the earnings of the association except by permissive action of the directors of the association. The member, or his or her or its executor, administrator, successors or assigns, may claim the amount so transferred from his or her account to the dormant accounts fund at any time after such transfer. Should the association be placed in liquidation while any savings account shall remain credited in the dormant accounts fund and before any valid claim shall have been made thereto, as hereinabove provided, such savings account so credited, upon order of the director and without any other escheat proceedings, shall escheat to the state of Washington.
[ 1994 c 92 § 442; 1945 c 235 § 53; Rem. Supp. 1945 § 3717-172. Prior: 1933 c 183 § 38.]
NOTES:
Escheats: Chapter 11.08 RCW.
Revised uniform unclaimed property act: Chapter 63.30 RCW.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.150 - Deposits with interest to be repaid on request—Postponement of withdrawals—Procedure.

RCW 33.20.150
Deposits with interest to be repaid on request—Postponement of withdrawals—Procedure.
The deposits paid into an association, together with any interest credited thereon, shall be repaid to the depositors thereof respectively, or to their legal representatives, upon request.
If, in the judgment of the board, circumstances warrant deferment of the payment of withdrawals from savings accounts to a later date, thereafter withdrawals shall be paid proportionately, on a percentage basis, to all depositors requesting withdrawal until full withdrawal requests are paid to all depositors. A board resolution of deferment shall not affect the payments of withdrawals from federal tax and loan accounts.
The board shall, however, have the right in its discretion, where need is shown, to pay not exceeding one hundred dollars to any account holder in one month.
If, upon examination, the director finds that further postponement of withdrawals is unwarranted, the director may order the association to resume full payment of withdrawals and cancel all written withdrawal requests. Such order shall be in writing.
The association's failure, during a period of postponement, to pay withdrawal requests shall not authorize the director to take charge of or liquidate the association.
[ 1994 c 92 § 443; 1982 c 3 § 41; 1979 c 113 § 5; 1953 c 71 § 5; 1945 c 235 § 54; Rem. Supp. 1945 § 3717-173. Prior: 1939 c 98 § 5; 1933 c 183 §§ 29, 30, 31, 32, 33, 34, 37; 1919 c 169 § 10; 1913 c 110 § 16; 1890 p 56 § 27.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1979 c 113: See note following RCW 33.04.020.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.170 - Withdrawals may be limited—Conditions.

RCW 33.20.170
Withdrawals may be limited—Conditions.
The director further is empowered, if in his or her judgment the circumstances warrant it, to issue in writing a declaration that an acute business depression, state of panic, or economic emergency exists, in which event the directors of any association, state or federal, within the state may limit withdrawals by resolution, subject to the following conditions; that incoming funds shall be applied:
First, to the payment of operating expenses, indebtedness, taxes, insurance, and to the necessary charges for the protection of the association and its investments;
Second, to the payment to members of emergency withdrawals not exceeding twenty-five dollars per month to any member. The board of directors of any association, with the prior written approval of the director, by resolution may authorize the payment of emergency withdrawals not exceeding one hundred dollars per month to any member;
Third, to the payment of dividends on the savings of its members;
Fourth, three-fourths of all remaining receipts of the association, except interest payments, shall be applied to the payment of withdrawals, until all withdrawal requests have been paid.
All such withdrawal payments shall be made to members having withdrawal requests on file in proportion to the amount of such withdrawal requests.
[ 1994 c 92 § 444; 1945 c 235 § 99; Rem. Supp. 1945 § 3717-218. Prior: 1939 c 98 § 5; 1933 c 183 §§ 29, 30, 31, 32, 33, 34; 1919 c 169 § 10; 1913 c 110 § 16; 1890 p 56 § 27.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.180 - Classification of depositors—Regulation of earnings according to class.

RCW 33.20.180
Classification of depositors—Regulation of earnings according to class.
An association may classify its depositors according to the character, amount, frequency or duration of their dealings with the association and may regulate the earnings in such manner that each depositor receives the same rate of interest as all others of the depositor's class.
[ 1982 c 3 § 42; 1969 c 107 § 9.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.20 - Members—Savings. › 33.20.190 - Withdrawal by association draft or negotiable or transferable order or authorization—Interest eligibility.

RCW 33.20.190
Withdrawal by association draft or negotiable or transferable order or authorization—Interest eligibility.
An association may, on instruction from a depositor, effect withdrawals from the depositor's account by the association's drafts payable to parties and on terms as so instructed. An association may allow a depositor to effect withdrawals or transfers from the depositor's account upon negotiable or transferable order or authorization to the association. To the extent of the subjection of accounts to such withdrawal instructions or orders, such accounts may be specifically classified under RCW 33.20.180 and ineligible to receive interest or eligible only for limited interest.
[ 1982 c 3 § 43; 1980 c 54 § 1; 1969 c 107 § 10.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Contingent effective date—1980 c 54: "The provisions of this 1980 amendatory act shall take effect on the effective date of a law enacted by the United States Congress enabling depository institutions in the state of Washington to allow the owner of a deposit or account on which interest or dividends are paid to make withdrawals by negotiable or transferable instruments for the purpose of making transfers to third parties." [ 1980 c 54 § 3.] Section 303 of the Consumer Checking Account Equity Act of 1980, 94 Stat. 145, authorizes the above mentioned withdrawals. Section 303 has an effective date of December 31, 1980.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.005 - "Mortgage" includes deed of trust and real estate contract.

RCW 33.24.005
"Mortgage" includes deed of trust and real estate contract.
The word "mortgage" as used in this title includes deed of trust and real estate contract.
[ 1982 c 3 § 44; 1973 c 130 § 28.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1973 c 130: See note following RCW 33.24.350.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.007 - "Real property" defined.

RCW 33.24.007
"Real property" defined.
Unless the context clearly requires otherwise, "real property" means improved or unimproved real estate and includes leasehold interests in improved or unimproved real estate and includes manufactured housing whether temporarily, semipermanently, or permanently attached to land and mobile homes and manufactured homes whose title has been eliminated under chapter 65.20 RCW.
[ 1989 c 343 § 23; 1982 c 3 § 49.]
NOTES:
Effective date—1989 c 343: See RCW 65.20.950.
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.010 - Authority to invest—Limits on loans and extensions of credit.

RCW 33.24.010
Authority to invest—Limits on loans and extensions of credit.
(1) An association may invest its funds only as provided in this chapter.
(2) An association is subject to the same limits on loans and extensions of credit, and exceptions thereto, as set forth in *RCW 30.04.111.
[ 2013 c 76 § 30; 1994 c 92 § 445; 1982 c 3 § 45; 1979 c 113 § 6; 1963 c 246 § 7; 1953 c 71 § 6; 1947 c 257 § 5; 1945 c 235 § 58; Rem. Supp. 1947 § 3717-177. Prior: 1939 c 98 § 11; 1933 c 183 §§ 39, 52, 56, 58; 1925 ex.s. c 144 § 5; 1913 c 110 §§ 8, 9; 1903 c 116 § 2; 1890 p 56 §§ 4, 30.]
NOTES:
*Reviser's note: RCW 30.04.111 was recodified as RCW 30A.04.111 pursuant to 2014 c 37 § 4, effective January 5, 2015.
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1979 c 113: See note following RCW 33.04.020.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.015 - Loans generally—Limitation.

RCW 33.24.015
Loans generally—Limitation.
An association may invest not more than twenty percent of its assets in loans on such terms as it deems appropriate.
[ 1982 c 3 § 51.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.020 - Obligations of United States or Canada.

RCW 33.24.020
Obligations of United States or Canada.
An association may invest its funds in loans upon or purchases of the bonds or obligations of or bonds or obligations guaranteed by the United States of America, including bonds of the District of Columbia, of the Dominion of Canada, or those for which the faith of the United States or the Dominion of Canada is pledged to provide for the payment of interest and principal: PROVIDED, That, in the case of bonds of the Dominion of Canada or those for which its faith is pledged, the interest and principal shall be payable in the United States or with exchange to a city in the United States and in lawful money of the United States or its equivalent.
[ 1947 c 257 § 6; 1945 c 235 § 59; Rem. Supp. 1947 § 3717-178. Prior: 1939 c 98 § 11; 1935 c 9 §§ 1, 2, 3; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.025 - Investment in investment trusts or companies.

RCW 33.24.025
Investment in investment trusts or companies.
Except as may be limited by the director by rule, an association may invest its funds in obligations of the United States, as authorized by RCW 33.24.020, either directly or in the form of securities of, or other interests in, an open-end or closed-end management type investment company or investment trust registered under the federal investment company act of 1940, as now or hereafter amended, if both of the following conditions are met:
(1) The portfolio of the investment company or investment trust is limited to obligations of the United States and to repurchase agreements fully collateralized by such obligations; and
(2) The investment company or investment trust takes delivery of the collateral for any repurchase agreement either directly or through an authorized custodian.
[ 1994 c 92 § 446; 1989 c 97 § 3.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.030 - Obligations of this state.

RCW 33.24.030
Obligations of this state.
An association may invest its funds in the bonds or interest bearing obligations of this state or any agency thereof.
[ 1955 c 126 § 1; 1945 c 235 § 60; Rem. Supp. 1945 § 3717-179. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.040 - Obligations of other states.

RCW 33.24.040
Obligations of other states.
An association may invest its funds in the bonds or interest bearing obligations of any other state of the United States upon which there is no existing default and upon which there has been no default for more than ninety days within ten years immediately preceding the investment: PROVIDED, That such state has not been in default for more than ninety days, within said ten years, in the payment of any part of the principal or interest of any debt contracted by it or for which the faith of such state was pledged.
[ 1945 c 235 § 61; Rem. Supp. 1945 § 3717-180. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.050 - Obligations of municipal corporations in this state.

RCW 33.24.050
Obligations of municipal corporations in this state.
An association may invest its funds in the valid warrants or bonds of any city, town, county, school district, port district, or other municipal corporation in the state of Washington which are issued pursuant to law and for the payment of which the faith and credit of such municipal corporations is pledged and taxes are leviable upon all taxable property within its limits. The aggregate of the investments of an association in any issue of such warrants or bonds shall at no time exceed five percent of the amount of its savings accounts.
[ 1945 c 235 § 62; Rem. Supp. 1945 § 3717-181. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.060 - Obligations of municipal corporations in any state.

RCW 33.24.060
Obligations of municipal corporations in any state.
An association may invest its funds in the valid warrants or bonds of any city, county, school district, port district, or other municipal corporation in the United States having a population of not less than fifty thousand inhabitants as determined by the last federal census, which municipal corporation has not defaulted in the payment of interest or principal upon any general obligation, including those for which its credit was pledged, within ten years last past, and for the payment of which the faith and credit of such municipal corporation is pledged and taxes are leviable upon all taxable property within its limits. No such investment shall be made unless the warrants or bonds for purchase are rated not less than BAA by Moody's Investors' Service, or have equivalent rating of another standard rating bureau, and the aggregate of the investments of an association in any issue of such warrants or bonds shall at no time exceed five percent of the amount of its savings accounts.
[ 1945 c 235 § 63; Rem. Supp. 1945 § 3717-182. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.065 - Obligations issued or guaranteed by multilateral development bank.

RCW 33.24.065
Obligations issued or guaranteed by multilateral development bank.
An association 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 association's assets.
[ 1985 c 301 § 3.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.070 - City or district light, water, and sewer revenue bonds.

RCW 33.24.070
City or district light, water, and sewer revenue bonds.
An association may invest its funds in the revenue bonds of any city, town, district, or political subdivision of this state for the payment of which revenue of the city, town, district or political subdivision utility or revenue producing facility is irrevocably pledged.
It may invest its funds in the light, water, or sewer revenue bonds of any city or other municipal corporation in the United States having a population of not less than fifty thousand inhabitants as determined by the last federal census, which has not defaulted in the payment of interest or principal upon this or any like obligation, including those for which its credit was pledged, within ten years last past, for the payment of which the entire revenue of the city's or other municipal corporation's light, water, or sewer system, less maintenance and operating costs, is irrevocably pledged.
The aggregate of the investments of an association in any issue of such revenue bonds shall at no time exceed five percent of the amount of its savings accounts.
[ 1955 c 126 § 2; 1945 c 235 § 64; Rem. Supp. 1945 § 3717-183. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.080 - Local improvement district bonds.

RCW 33.24.080
Local improvement district bonds.
An association may invest its funds in the bonds of any local improvement district of any city of this state (except bonds issued for an improvement consisting of grading only), the ultimate payment of which is guaranteed by the municipality under the provisions of guaranty laws of this state: PROVIDED, That one-half of the lots in the district are improved with revenue producing houses or other improvements and that local improvement district bonds falling within the twenty-five percent, in amount of any issue, last callable for payment shall neither be acquired nor taken as security. The aggregate of the investments of an association in any issue of such bonds shall at no time exceed three percent of the amount of its savings accounts, and it may not have invested, at any one time, more than one hundred thousand dollars in the bonds of any such district.
[ 1953 c 71 § 7; 1945 c 235 § 65; Rem. Supp. 1945 § 3717-184. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.090 - Obligations of federal and state agencies—Investment in other associations.

RCW 33.24.090
Obligations of federal and state agencies—Investment in other associations.
An association may invest its funds in stock or notes, bonds, debentures, or other such obligations of any federal home loan bank, the Home Owners' Loan Corporation, any federal land bank, the Federal Savings and Loan Insurance Corporation, the Federal Housing Administration, the Federal National Mortgage Association, or any other instrumentality of the federal government, or any state or federal agency organized under the laws of the United States or of the state of Washington authorized to loan to or act as a fiscal agency for, or insurer of, a savings and loan association.
An association may become a member of and invest its funds in other savings and loan associations organized under either federal or state law, which have an authorized office in this state: PROVIDED, That the investment in any such other savings and loan association shall not exceed the amount which is insured by the Federal Savings and Loan Insurance Corporation.
[ 1959 c 280 § 3; 1953 c 71 § 8; 1945 c 235 § 66; Rem. Supp. 1945 § 3717-185. Prior: 1939 c 98 § 11; 1935 c 9 §§ 1, 2, 3; 1933 c 183 § 56.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.100 - Loans or other obligations secured by real property.

RCW 33.24.100
Loans or other obligations secured by real property.
An association may invest its funds in loans, mortgages, or other obligations secured by real property.
[ 1982 c 3 § 46; 1979 c 113 § 7; 1969 c 107 § 5; 1949 c 20 § 6; 1945 c 235 § 67; Rem. Supp. 1949 § 3717-186. Prior: 1939 c 98 § 11; 1935 c 9 §§ 1, 2, 3; 1933 c 183 §§ 56, 58; 1925 ex.s. c 144 § 5; 1913 c 110 §§ 8, 9; 1903 c 116 § 2; 1890 p 56 § 4.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1979 c 113: See note following RCW 33.04.020.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.115 - Forming, incorporating with, or investing in other entities—Limitation.

RCW 33.24.115
Forming, incorporating with, or investing in other entities—Limitation.
An association, alone or in conjunction with other entities, may form, incorporate, or invest in corporations or other entities, whether or not such other corporation or entity is related to the association's business. The aggregate amount of funds invested or used in the formation of corporations or other entities under this section shall not exceed ten percent of the assets of the association.
[ 1982 c 3 § 50.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.160 - Investment in office equipment and real property interests used in doing business.

RCW 33.24.160
Investment in office equipment and real property interests used in doing business.
An association may invest its funds in the acquisition of furniture, fixtures and office equipment convenient and necessary for the carrying on of its business.
An association may invest its funds in real property or leasehold interests therein for use in the transaction of its business.
[ 1982 c 3 § 47; 1945 c 235 § 73; Rem. Supp. 1945 § 3717-192. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.200 - Personal liability on unlawful loans.

RCW 33.24.200
Personal liability on unlawful loans.
Every director, officer, agent, or employee of an association who shall borrow or who shall knowingly permit any person to borrow any of its funds in violation of the provisions of this title shall be personally liable for any loss or damage which the association may sustain in consequence thereof.
[ 1945 c 235 § 94; Rem. Supp. 1945 § 3717-213.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.220 - Stock or bonds of federal home loan bank.

RCW 33.24.220
Stock or bonds of federal home loan bank.
See RCW 30A.32.020.
NOTES:
Home loan bank as depositary: RCW 30A.32.040.
May borrow from home loan bank: RCW 30A.32.030.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.270 - Stock in small business investment companies.

RCW 33.24.270
Stock in small business investment companies.
A savings and loan association may purchase and hold for its own investment accounts stock in small business investment companies licensed and regulated by the United States as authorized by the small business act, Public Law 85-536, as amended and now in force, in an amount not to exceed one percent of its assets.
[ 1973 c 130 § 30; 1969 c 107 § 13.]
NOTES:
Severability—1973 c 130: See note following RCW 33.24.350.
Definitions—1973 c 130: See RCW 33.24.350.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.295 - Loans for nonbusiness family purposes—Limitation.

RCW 33.24.295
Loans for nonbusiness family purposes—Limitation.
An association may invest not to exceed twenty percent of its assets in loans for any nonbusiness family purposes.
[ 1982 c 3 § 48; 1979 c 113 § 12; 1973 c 130 § 27.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1979 c 113: See note following RCW 33.04.020.
Severability—1973 c 130: See note following RCW 33.24.350.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.345 - Acquisition of control of association—Authorized.

RCW 33.24.345
Acquisition of control of association—Authorized.
A person or other entity, including an association, organized under the laws of this state or authorized to transact business in this state, may acquire any or all of the assets or shares of stock of any association authorized to transact business under this title.
[ 1982 c 3 § 52.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.350 - Acquisition of control of association—Definitions.

RCW 33.24.350
Acquisition of control of association—Definitions.
Unless the context requires otherwise, the definitions in this section apply throughout this chapter.
(1) "Subsidiary" of a person or other entity means any person or other entity which is controlled by such person or other entity.
(2) "Control" means directly or indirectly or acting in concert with one or more other persons or entities, or through one or more subsidiaries, owning, controlling, or holding with the power to vote twenty-five percent or more of the voting rights of an association.
(3) "Acquiring party" means the person or other entity acquiring control of a savings and loan association.
[ 1982 c 3 § 53; 1973 c 130 § 1.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1973 c 130: "If any provision of this 1973 amendatory 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." [ 1973 c 130 § 32.]
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.370 - Acquisition of control of association—Action or proceeding to prevent—Grounds.

RCW 33.24.370
Acquisition of control of association—Action or proceeding to prevent—Grounds.
The director may within thirty days after the date of filing of the application under RCW 33.24.360, file an action or proceeding in superior court to prevent the pending acquisition of control if the director finds any of the following:
(1) The acquisition would substantially lessen competition or would in any manner be in restraint of trade or would result in a monopoly, or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the savings and loan business in any part of the state of Washington, unless the director also finds that the anticompetitive effects of the proposed acquisition are clearly outweighed in the public interest by the probable effect of the acquisition in meeting the convenience and needs of the community to be served;
(2) The poor financial condition of any acquiring party might jeopardize the financial stability of the association being acquired or might prejudice the interests of the depositors, borrowers, or stockholders of the association or is not in the public interest;
(3) The plan or proposal under which the acquiring party intends to liquidate the association, to sell its assets, or to merge it with any person or company, or to make any other major change in its business or corporate structure or management, is not fair and reasonable to the association's depositors, borrowers, or stockholders or is not in the public interest; or
(4) The competence, experience and integrity of any acquiring party who would control the operation of the association indicates that approval would not be in the interest of the association's depositors, borrowers, or stockholders nor in the public interest.
[ 1994 c 92 § 448; 1982 c 3 § 55; 1973 c 130 § 3.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1973 c 130: See note following RCW 33.24.350.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.24 - Loans and Investments. › 33.24.375 - Acquisition of control of association—Application to foreign association branches.

RCW 33.24.375
Acquisition of control of association—Application to foreign association branches.
RCW 33.24.345, 33.24.350, 33.24.360, and 33.24.370 do not apply to foreign associations doing business in this state, except when an acquiring party intends to acquire only one or more branches of a foreign association which are located in this state.
[ 1982 c 3 § 56.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.28 - Fees and Taxes. › 33.28.010 - Filing and copy fees.

RCW 33.28.010
Filing and copy fees.
The secretary of state shall collect fees of twenty dollars in advance for filing articles of incorporation. The secretary of state shall establish by rule, fees for amendments to articles of incorporation, other certificates required to be filed in his or her office, and for furnishing copies of papers filed in his or her office.
Every association shall also pay to the secretary of state, for filing any instrument with him or her, the same fees as are required of general corporations for filing similar papers.
[ 1993 c 269 § 13; 1981 c 302 § 33; 1945 c 235 § 76; Rem. Supp. 1945 § 3717-195.]
NOTES:
Effective date—1993 c 269: See note following RCW 23.86.070.
Severability—1981 c 302: See note following RCW 19.76.100.
Corporations, fees in general: Chapter 23B.01 RCW.
2023 Revised Code of Washington › Title 33 - Washington Savings Association Act › Chapter 33.28 - Fees and Taxes. › 33.28.020 - Fee for examination and supervision costs.

RCW 33.28.020
Fee for examination and supervision costs.
The director shall collect from each association a fee, the amount of which shall be set by rule, to cover the actual cost of examinations and supervision.
[ 1994 c 92 § 449; 1982 c 3 § 57; 1974 ex.s. c 22 § 1; 1969 c 107 § 6; 1961 c 222 § 4; 1945 c 235 § 77; Rem. Supp. 1945 § 3717-196. Prior: 1933 c 183 § 82; 1919 c 169 § 11; 1913 c 110 § 18.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.