reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.04 - General Provisions. › 32.04.280 - Violation of temporary cease and desist order—Injunction to enforce order.

RCW 32.04.280
Violation of temporary cease and desist order—Injunction to enforce order.
In the case of a violation or threatened violation of a temporary cease and desist order issued under RCW 32.04.260, the director may apply to the superior court of the county of the principal place of business of the mutual savings bank for an injunction to enforce the order. The court shall issue an injunction if it determines there has been a violation or threatened violation.
[ 1994 c 92 § 304; 1979 c 46 § 4.]
NOTES:
Severability—1979 c 46: See note following RCW 32.04.250.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.04 - General Provisions. › 32.04.300 - Jurisdiction of courts as to cease and desist orders, orders to remove trustee, officer, or employee, etc.

RCW 32.04.300
Jurisdiction of courts as to cease and desist orders, orders to remove trustee, officer, or employee, etc.
The director may apply to the superior court of the county of the principal place of business of the mutual savings bank affected for the enforcement of any effective and outstanding order issued under RCW 32.04.250 or 32.16.093, and the court shall have jurisdiction to order compliance therewith.
No court shall have jurisdiction to affect by injunction or otherwise the issuance or enforcement of any such order, or to review, modify, suspend, terminate, or set aside any such order, except as provided in RCW 32.04.270, 32.04.280, and 32.04.290.
[ 1994 c 92 § 306; 1979 c 46 § 6.]
NOTES:
Severability—1979 c 46: See note following RCW 32.04.250.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.04 - General Provisions. › 32.04.310 - Automated teller machines and night depositories security.

RCW 32.04.310
Automated teller machines and night depositories security.
Chapter 19.174 RCW applies to automated teller machines and night depositories regulated under this title.
[ 1993 c 324 § 12.]
NOTES:
Effective date—1993 c 324: See RCW 19.174.900.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.04 - General Provisions. › 32.04.320 - Director—Powers under chapter 19.144 RCW.

RCW 32.04.320
Director—Powers under chapter 19.144 RCW.
The director or the director's designee may take such action as provided for in this title to enforce, investigate, or examine persons covered by chapter 19.144 RCW.
[ 2008 c 108 § 18.]
NOTES:
Findings—2008 c 108: See RCW 19.144.005.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.010 - Authority to organize—Incorporators—Certificate.

RCW 32.08.010
Authority to organize—Incorporators—Certificate.
When authorized by the director, as hereinafter provided, not less than nine nor more than thirty persons may form a corporation to be known as a "mutual savings bank." Such persons must be citizens of the United States; at least four-fifths of them must be residents of this state, and at least two-thirds of them must be residents of the county where the bank is to be located and its business transacted. They shall subscribe an incorporation certificate in triplicate which shall specifically state:
(1) The name by which the savings bank is to be known, which name shall include the words "mutual savings bank";
(2) The place where the bank is to be located, and its business transacted, naming the city or town and county;
(3) The name, occupation, residence, and post office address of each incorporator;
(4) The sums which each incorporator will contribute in cash to the initial guaranty fund, and to the expense fund respectively, as provided in RCW 32.08.090 and 32.08.100;
(5) Any provision the incorporators elect to so set forth which is permitted by RCW 23B.17.030;
(6) Any other provision the incorporators elect to so set forth which is not inconsistent with this chapter;
(7) A declaration that each incorporator will accept the responsibilities and faithfully discharge the duties of a trustee of the savings bank, and is free from all the disqualifications specified in RCW 32.16.010.
[ 1994 c 256 § 97; 1994 c 92 § 307; 1955 c 13 § 32.08.010. Prior: 1915 c 175 § 1; 1905 c 129 § 2; RRS § 3313.]
NOTES:
Reviser's note: This section was amended by 1994 c 92 § 307 and by 1994 c 256 § 97, 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.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.020 - Notice of intention.

RCW 32.08.020
Notice of intention.
At the time of executing the incorporation certificate, the proposed incorporators shall sign a notice of intention to organize the mutual savings bank, which shall specify their names, the name of the proposed corporation, and its location as set forth in the incorporation certificate. The original of such notice shall be filed in the office of the director within sixty days after the date of its execution, and a copy thereof shall be published at least once a week for four successive weeks in a newspaper designated by the director, the publication to be commenced within thirty days after such designation. At least fifteen days before the incorporation certificate is submitted to the director for examination, as provided in RCW 32.08.030, a copy of such notice shall be served upon each savings bank doing business in the city or town named in the incorporation certificate, by mailing such copy (postage prepaid) to such bank.
[ 1994 c 92 § 308; 1955 c 13 § 32.08.020. Prior: 1915 c 175 § 2; RRS § 3314.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.030 - Submission of certificate—Proof of service of notice.

RCW 32.08.030
Submission of certificate—Proof of service of notice.
After the lapse of at least twenty-eight days from the date of the first due publication of the notice of intention to incorporate, and within ten days after the date of the last publication thereof, the incorporation certificate executed in triplicate shall be submitted for examination to the director at his or her office in Olympia, with affidavits showing due publication and service of the notice of intention to organize prescribed in RCW 32.08.020.
[ 1994 c 92 § 309; 1955 c 13 § 32.08.030. Prior: 1915 c 175 § 3; RRS § 3315.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.040 - Examination and action by director.

RCW 32.08.040
Examination and action by director.
When any such certificate has been filed for examination the director shall thereupon ascertain from the best source of information at his or her command, and by such investigation as he or she may deem necessary, whether the character, responsibility, and general fitness of the person or persons named in such certificate are such as to command confidence and warrant belief that the business of the proposed bank will be honestly and efficiently conducted in accordance with the intent and purpose of this title, and whether the public convenience and advantage will be promoted by allowing such proposed bank to be incorporated and engage in business, and whether greater convenience and access to a savings bank would be afforded to any considerable number of depositors by opening a mutual savings bank in the place designated, whether the population in the neighborhood of such place, and in the surrounding country, affords a reasonable promise of adequate support for the proposed bank, and whether the contributions to the initial guaranty fund and expense fund have been paid in cash. After the director has satisfied himself or herself by such investigation whether it is expedient and desirable to permit such proposed bank to be incorporated and engage in business, he or she shall within sixty days after the date of the filing of the certificate for examination indorse upon each of the triplicates thereof over his or her official signature the word "approved" or the word "refused," with the date of such indorsement. In case of refusal he or she shall forthwith return one of the triplicates so indorsed to the proposed incorporators from whom the certificate was received.
[ 1994 c 92 § 310; 1955 c 13 § 32.08.040. Prior: 1915 c 175 § 4, part; RRS § 3316, part.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.050 - Appeal from adverse decision.

RCW 32.08.050
Appeal from adverse decision.
From the director's refusal to issue a certificate of authorization, the applicants or a majority of them, may within thirty days from the date of the filing of the certificate of refusal with the secretary of state, appeal to a board of appeal composed of the governor or the governor's designee, the attorney general and the director by filing in the office of the director a notice that they appeal to such board from his or her refusal. The procedure upon the appeal shall be such as the board may prescribe, and its determination shall be certified, filed, and recorded in the same manner as the director's, and shall be final.
[ 1994 c 92 § 311; 1979 ex.s. c 57 § 6; 1955 c 13 § 32.08.050. Prior: 1915 c 175 § 4, part; RRS § 3316, part.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.060 - Procedure upon approval.

RCW 32.08.060
Procedure upon approval.
In case of approval, the director shall forthwith give notice thereof to the proposed incorporators, and file one of the duplicate certificates in his or her own office, and shall transmit the other to the secretary of state. Upon receipt from the proposed incorporators of the same fees as are required for filing and recording other incorporation certificates, the secretary of state shall file the certificate and record the same. Upon the filing of said incorporation certificate in duplicate approved as aforesaid in the offices of the director and the secretary of state, the persons named therein and their successors shall thereupon become and be a corporation, which corporation shall have the powers and be subject to the duties and obligations prescribed in this title and its corporate existence shall be perpetual, unless sooner terminated pursuant to law, but such corporation shall not receive deposits or engage in business until authorized so to do by the director as provided in RCW 32.08.070.
[ 1994 c 92 § 312; 1981 c 302 § 26; 1957 c 80 § 1; 1955 c 13 § 32.08.060. Prior: 1915 c 175 § 4, part; RRS § 3316, part.]
NOTES:
Severability—1981 c 302: See note following RCW 19.76.100.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.061 - Extension of period of existence—Procedure.

RCW 32.08.061
Extension of period of existence—Procedure.
A mutual savings bank may amend its incorporation certificate to extend the period of its corporate existence for a further definite time or perpetually by a resolution adopted by a majority vote of its board of trustees. Duplicate copies of the resolution, subscribed and acknowledged by the president and secretary of such bank, shall be filed in the office of the director within thirty days after its adoption. If the director finds that the resolution conforms to law he or she shall, within sixty days after the date of the filing thereof, endorse upon each of the duplicates thereof, over his or her official signature, his or her approval and forthwith give notice thereof to the bank and shall file one of the certificates in his or her own office and shall transmit the other to the secretary of state. Upon receipt from the mutual savings bank of the same fees as are required of general corporations for filing corresponding instruments, the secretary of state shall file the resolution and record the same. Upon the filing of said resolution in duplicate, approved as aforesaid in the offices of the director and the secretary of state, the corporate existence of said bank shall continue for the period set forth in said resolution unless sooner terminated pursuant to law.
[ 1994 c 92 § 313; 1981 c 302 § 27; 1963 c 176 § 1; 1957 c 80 § 8.]
NOTES:
Severability—1981 c 302: See note following RCW 19.76.100.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.070 - Authorization certificate.

RCW 32.08.070
Authorization certificate.
Before a mutual savings bank shall be authorized to do any business the director shall be satisfied that the corporation has in good faith complied with all the requirements of law and fulfilled all the conditions precedent to commencing business imposed by this title. If satisfied that the corporation has in good faith complied with all the requirements of law, and fulfilled all the conditions precedent to commencing business imposed by this title, the director shall within six months after the date upon which the proposed organization certificate was filed with him or her for examination, but in no case after the expiration of that period, issue under his or her hand and official seal in triplicate an authorization certificate to such corporation. Such authorization certificate shall state that the corporation therein named has complied with all the requirements of law, that it is authorized to transact at the place designated in its certificate of incorporation, the business of a mutual savings bank. One of the triplicate authorization certificates shall be transmitted by the director to the corporation therein named, and the other two authorization certificates shall be filed by the director in the same public offices where the certificate of incorporation is filed, and shall be attached to said incorporation certificate.
[ 1994 c 92 § 314; 1981 c 302 § 28; 1955 c 13 § 32.08.070. Prior: 1915 c 175 § 5; RRS § 3317.]
NOTES:
Severability—1981 c 302: See note following RCW 19.76.100.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.080 - Conditions precedent to reception of deposits.

RCW 32.08.080
Conditions precedent to reception of deposits.
Before such corporation shall be authorized to receive deposits or transact business other than the completion of its organization, the director shall be satisfied that:
(1) The incorporators have made the deposit of the initial guaranty fund required by this title;
(2) The incorporators have made the deposit of the expense fund required by RCW 32.08.090 and if the director shall so require, have entered into the agreement or undertaking with him or her and have filed the same and the security therefor as prescribed in said section;
(3) The corporation has transmitted to the director the name, residence, and post office address of each officer of the corporation;
(4) Its certificate of incorporation in triplicate has been filed in the respective public offices designated in this title.
[ 1994 c 92 § 315; 1955 c 13 § 32.08.080. Prior: 1915 c 175 § 6; RRS § 3318.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.090 - Expense fund—Agreement to contribute further—Security.

RCW 32.08.090
Expense fund—Agreement to contribute further—Security.
Before any mutual savings bank shall be authorized to do business, its incorporators shall create an expense fund from which the expense of organizing such bank and its operating expenses may be paid, until such time as its earnings are sufficient to pay its operating expenses in addition to such dividends as may be declared and credited to its depositors from its earnings. The incorporators shall deposit to the credit of such savings bank in cash as an expense fund the sum of five thousand dollars. They shall also enter into such an agreement or undertaking with the director as trustee for the depositors with the savings bank as he or she may require to make such further contributions in cash to the expense fund as may be necessary to pay its operating expenses until such time as it can pay them from its earnings, in addition to such dividends as may be declared and credited to its depositors. Such agreement or undertaking shall fix the maximum liability assumed thereby which shall be a reasonable amount approved by the director and the same shall be secured to his or her satisfaction, which security in his or her discretion may be by a surety bond executed by a domestic or foreign corporation authorized to transact within this state the business of surety. The agreement or undertaking and security shall be filed in the office of the director. Such agreement or undertaking and such security need not be made or furnished unless the director shall require the same. The amounts contributed to the expense fund of said savings bank by the incorporators or trustees shall not constitute a liability of the savings bank except as hereinafter provided.
[ 1994 c 92 § 316; 1955 c 13 § 32.08.090. Prior: 1915 c 175 § 8; RRS § 3320.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.100 - Guaranty fund.

RCW 32.08.100
Guaranty fund.
Before any mutual savings bank shall be authorized to do business, its incorporators shall create a guaranty fund for the protection of its depositors against loss on its investments, whether arising from depreciation in the market value of its securities or otherwise:
(1) Such guaranty fund shall consist of payments in cash made by the original incorporators and of all sums credited thereto from the earnings of the savings bank as hereinafter required.
(2) The incorporators shall deposit to the credit of such savings bank in cash as an initial guaranty fund at least five thousand dollars.
(3) Prior to the liquidation of any such savings bank such guaranty fund shall not be in any manner encroached upon, except for losses and the repayment of contributions made by incorporators or trustees as hereinafter provided, until such fund together with undivided profits exceeds twenty-five percent of the amount due depositors.
(4) The amounts contributed to such guaranty fund by the incorporators or trustees shall not constitute a liability of the savings bank, except as hereinafter provided, and any loss sustained by the savings bank in excess of that portion of the guaranty fund created from earnings may be charged against such contributions pro rata.
[ 1955 c 13 § 32.08.100. Prior: 1915 c 175 § 7; RRS § 3319.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.110 - Guaranty fund—Purpose.

RCW 32.08.110
Guaranty fund—Purpose.
The contributions of the incorporators, or trustees of any such savings bank under the provisions of RCW 32.08.100, and the sums credited thereto from its net earnings under the provisions of RCW 32.08.120, shall constitute a guaranty fund for the security of its depositors, and shall be held to meet any contingency or loss in its business from depreciation of its securities or otherwise, and for no other purpose except as provided in RCW 32.08.130, and RCW 32.12.090(5).
[ 1955 c 13 § 32.08.110. Prior: 1915 c 175 § 21; RRS § 3350.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.115 - Guaranty fund—Payment of interest and dividends—Legislative declaration.

RCW 32.08.115
Guaranty fund—Payment of interest and dividends—Legislative declaration.
It is hereby recognized that the savings banks of the state of Washington are affected adversely by the uncertainties and ambiguities in the law relating to guaranty funds. It is the express purpose of the legislature in enacting RCW 32.08.116 to clarify that the law permits payment of interest and dividends from the guaranty funds of savings banks and RCW 32.08.116 shall be liberally construed to that end.
[ 1982 c 5 § 1.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.116 - Guaranty fund—Payment of interest and dividends—When authorized.

RCW 32.08.116
Guaranty fund—Payment of interest and dividends—When authorized.
A savings bank not having net earnings or undivided profits or other surplus may pay interest and dividends from its guaranty fund upon prior written approval of the director, which approval shall not be withheld unless the director has determined that such payments would place the savings bank in an unsafe and unsound condition.
[ 1994 c 92 § 317; 1982 c 5 § 2.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.120 - Guaranty fund—Replenishment—Dividends.

RCW 32.08.120
Guaranty fund—Replenishment—Dividends.
(1) If at the close of any dividend period the guaranty fund of a savings bank is less than ten percent of the amount due to depositors, there shall be deducted from its net earnings and credited to its guaranty fund not less than five percent of its net earnings for such period.
(2) The balance of its net earnings for such dividend period, plus any earnings from prior accounting periods not previously disbursed and not reserved for losses or other contingencies or required to be maintained in the guaranty fund, shall be available for dividends.
While the trustees of such savings bank are paying its expenses or any portion thereof, the amounts to be credited to its guaranty fund shall be computed at the same percentage upon the total dividends credited to its depositors instead of upon its net earnings. If the guaranty fund accumulated from earnings equals or exceeds ten percent of the amount due to depositors, the minimum dividend shall be four percent, if the net earnings for such period are sufficient therefor.
[ 1955 c 13 § 32.08.120. Prior: 1941 c 15 § 4; 1929 c 123 § 3; 1927 c 184 § 6; 1915 c 175 § 24; Rem. Supp. 1941 § 3353.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.130 - Reimbursement fund.

RCW 32.08.130
Reimbursement fund.
When the portion of the guaranty fund created from earnings amounts to not less than five thousand dollars (including in the case of a savings bank converted from a building and loan or savings and loan association or society the amount of the initial guaranty fund), the board of trustees, with the written consent of the director, may establish a reimbursement fund from which to repay contributors to the expense fund and the initial guaranty fund (excepting the initial guaranty fund in the case of a bank converted from a building and loan or savings and loan association or society), and may transfer to the reimbursement fund any unexpended balance of contributions to the expense fund. At the close of each dividend period the trustees may place to the credit of the reimbursement fund not more than one percent of the net earnings of the bank during that period. Payments from the reimbursement fund may be made from time to time in such amounts as the board of trustees shall determine, and shall be made first to the contributors to the expense fund in proportion to their contributions thereto until they shall have been repaid in full, and then shall be made to the contributors to the guaranty fund in proportion to their contributions thereto until they shall have been repaid in full. In case of the liquidation of the savings bank before the contributions to the expense fund and the initial guaranty fund have been fully repaid as above contemplated, any portion of the contributions not needed for the payment of the expenses of liquidation and the payment of depositors in full shall be paid to the contributors to the expense fund in proportion to their contributions thereto until they have been repaid in full, and then shall be paid to the contributors to the guaranty fund in proportion to their contributions thereto until they have been repaid in full.
[ 1994 c 92 § 318; 1955 c 13 § 32.08.130. Prior: 1945 c 135 § 1; 1927 c 178 § 1; 1915 c 175 § 9; Rem. Supp. 1945 § 3321.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.142 - Additional powers of savings bank—Powers of federal mutual savings bank—Definition—Restrictions.

RCW 32.08.142
Additional powers of savings bank—Powers of federal mutual savings bank—Definition—Restrictions.
(1) Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a savings bank has under the laws of this state, a savings bank shall have the powers and authorities that any federal mutual savings bank had on July 28, 1985, or as of a subsequent date not later than July 28, 2013. As used in this section, "powers and authorities" include without limitation powers and authorities in corporate governance matters.
(2) A savings bank may exercise the powers and authorities granted, after July 28, 2013, to federal mutual savings banks or their successors under federal law only if the director finds that the exercise of such powers and authorities:
(a) Serves the convenience and advantage of depositors and borrowers, or the general public; and
(b) Maintains the fairness of competition and parity between state-chartered savings banks and federal savings banks or their successors under federal law.
(3) Notwithstanding any other provision of law, a savings bank has the powers and authorities that an out-of-state state savings bank or savings association operating a branch in Washington has if the director finds that the exercise of such powers and authorities serves the convenience and advantage of depositors and borrowers, or the general public, and maintains the fairness of competition and parity between savings banks and out-of-state state savings banks and savings associations.
(4) For the purposes of this section, "powers and authorities" include without limitation powers and authorities in corporate governance matters.
(5) The restrictions, limitations, and requirements applicable to specific powers and authorities of federal mutual savings banks or out-of-state state savings banks or savings associations, as applicable, shall apply to savings 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 savings banks solely under this section.
[ 2013 c 76 § 26; 2003 c 24 § 7; 1999 c 14 § 18; 1996 c 2 § 24; 1994 c 256 § 98; 1985 c 56 § 3; 1981 c 86 § 10.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
Severability—1981 c 86: See note following RCW 32.08.140.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.148 - Operation of branch outside Washington—Powers and authorities.

RCW 32.08.148
Operation of branch outside Washington—Powers and authorities.
In addition to all powers and authorities, express or implied, that a mutual savings bank has under the laws of this state, a mutual savings bank chartered under this title may exercise any powers and authorities at any branch outside Washington that are permissible for a savings bank operating in the jurisdiction where that branch is located, or for a bank, savings association, or similar financial institution operating in the jurisdiction if the laws of the jurisdiction do not provide for the operation of savings banks in the jurisdiction, except to the extent that the exercise of these powers and authorities is expressly prohibited or limited by the laws of this state or by any rule or order of the director applicable to the mutual savings 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 mutual savings bank.
[ 1996 c 2 § 26.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.150 - Certificates of deposit.

RCW 32.08.150
Certificates of deposit.
A mutual savings bank may issue savings certificates of deposit in such form and upon such terms as the bank may determine.
[ 1981 c 86 § 3; 1979 c 51 § 1; 1975 c 15 § 1; 1969 c 55 § 1; 1959 c 41 § 1; 1959 c 14 § 1; 1957 c 80 § 3; 1955 c 13 § 32.08.150. Prior: 1915 c 175 § 13; RRS § 3342.]
NOTES:
Severability—1981 c 86: See note following RCW 32.08.140.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.153 - Additional powers of savings bank—Powers and authorities of national banks on July 28, 1985, or a subsequent date not later than July 28, 2013—Definition—Restrictions.

RCW 32.08.153
Additional powers of savings bank—Powers and authorities of national banks on July 28, 1985, or a subsequent date not later than July 28, 2013—Definition—Restrictions.
(1) Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a savings bank has under the laws of this state, a savings bank shall have the powers and authorities that any national bank had on July 28, 1985, or as of any subsequent date not later than July 28, 2013.
(2) Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a savings bank has under the laws of this state, a savings bank has the powers and authorities conferred upon a national bank after July 28, 2013, only if the director finds that the exercise of such powers and authorities:
(a) Serves the convenience and advantage of depositors and borrowers, or the general public; and
(b) Maintains the fairness of competition and parity between savings banks and national banks.
(3) For the purposes of this section, "powers and authorities" include without limitation powers and authorities in corporate governance and operational matters.
(4) The restrictions, limitations, and requirements applicable to specific powers and authorities of national banks apply to savings banks exercising those powers and authorities permitted under this section but only insofar as the restrictions, limitations, and requirements relate to exercising the powers or authorities granted savings banks solely under this section. The director may require such a savings bank to provide notice prior to implementation of a plan to develop, improve, or continue holding an individual parcel of real estate, including capitalized and operating leases, acquired through any means in full or partial satisfaction of a debt previously contracted, under circumstances in which a national bank would be required to provide notice to the comptroller of the currency prior to implementation of such a plan. The director may adopt rules, orders, directives, standards, policies, memoranda, or other communications to specify guidance with regard to the exercise of the powers and authorities to expend such funds as are needed to enable such a savings bank to recover its total investment, to the fullest extent authorized for a national bank under the national bank act, 12 U.S.C. Sec. 29.
[ 2013 c 76 § 27; 2010 c 88 § 49; 2003 c 24 § 4.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.157 - Additional powers—Powers and authorities of banks.

RCW 32.08.157
Additional powers—Powers and authorities of banks.
Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a mutual savings bank has under this title, a mutual savings bank has the powers and authorities that a bank has under *Title 30 RCW. As used in this section, "powers and authorities" include without limitation powers and authorities in corporate governance matters.
The restrictions, limitations, and requirements applicable to specific powers or authorities of banks apply to mutual savings banks exercising those powers or authorities permitted under this section but only insofar as the restrictions, limitations, and requirements relate to exercising the powers or authorities granted mutual savings banks solely under this section.
[ 2003 c 24 § 6.]
NOTES:
*Reviser's note: Title 30 RCW was recodified and/or repealed pursuant to 2014 c 37, effective January 5, 2015.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.160 - Writing of fire insurance restricted.

RCW 32.08.160
Writing of fire insurance restricted.
When a savings bank is itself acting as an insurance agent, a trustee, officer, or employee of the bank shall not act as an insurance agent to write fire insurance on property in which the bank has an insurable interest, and no part of a room used by a savings bank in the transaction of its business shall be occupied or used by any person other than the bank in the writing of fire insurance.
[ 1955 c 13 § 32.08.160. Prior: 1925 ex.s. c 86 § 7; RRS § 3342a.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.215 - Power to act as trustee for common trust funds under multiple trust agreements—Conditions.

RCW 32.08.215
Power to act as trustee for common trust funds under multiple trust agreements—Conditions.
No mutual savings bank or wholly owned subsidiary thereof shall act as trustee for common trust funds established for the benefit of more than one beneficiary under more than one trust agreement, unless the savings bank or subsidiary trust company shall first give written notice to the director, at least sixty days prior to the creation of any such fund.
[ 1994 c 92 § 321; 1985 c 56 § 4.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.220 - Findings—Purpose.

RCW 32.08.220
Findings—Purpose.
The legislature finds that [the] state of Washington needs investment of funds from out of state and from investors in the state of Washington to keep money for real estate and other forms of financing reasonably available for the needs of Washington citizens. Many innovations have taken place in the last several years to aid in the sale of loans or portions thereof to others including the sale of mortgage pass-through certificates, mortgage backed bonds, participation sales with varying rates, terms or priorities to various participants and the like. As the marketing of such investments continues, further innovations can be expected. It will benefit the state if mutual savings banks subject to the laws of this state have the broadest powers possible commensurate with their safety and soundness to take part in such activities. It is the purpose of RCW 32.08.225 and 32.08.230 to grant a broad power.
[ 1981 c 86 § 11.]
NOTES:
Severability—1981 c 86: See note following RCW 32.08.140.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.225 - Sale, purchase, etc., of interest rate exchange agreements, loans, or interests therein.

RCW 32.08.225
Sale, purchase, etc., of interest rate exchange agreements, loans, or interests therein.
Any mutual savings bank may through any device sell, purchase, exchange, issue evidence of a sale or exchange of, or in any manner deal in any form of sale or exchange of interest rate exchange agreements, loans, or any interest therein including but not being limited to mortgage pass-through issues, mortgage backed bond issues, and loan participations and may purchase a subordinated portion thereof, issue letters of credit to insure against losses on a portion thereof, agree to repurchase all or a portion thereof, guarantee all or a portion of the payments thereof, and without any implied limitation by the foregoing or otherwise, do any and all things necessary or convenient to take part in or effectuate any such sales or exchanges by a mutual savings bank itself or by a subsidiary thereof.
[ 1985 c 56 § 5; 1981 c 86 § 12.]
NOTES:
Severability—1981 c 86: See note following RCW 32.08.140.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.08 - Organization and Powers. › 32.08.230 - Restrictions and requirements by director.

RCW 32.08.230
Restrictions and requirements by director.
Any mutual savings bank engaging in any activity contemplated in RCW 32.08.225, whereby it holds or purchases subordinated securities, issues letters of credit to secure a portion of any sale or issue of loans sold or exchanged, or in any manner acts as a partial guarantor or insurer or repurchaser of any loans sold or exchanged, shall do so only in accordance with such reasonable restrictions and requirements as the director shall require and shall report and carry such transactions on its books and records in such manner as the director shall require. In establishing any requirements and restrictions hereunder, the director shall consider the effect the transaction and the reporting thereof will have on the safety and soundness of the mutual savings bank engaging in it.
[ 1994 c 92 § 322; 1981 c 86 § 13.]
NOTES:
Severability—1981 c 86: See note following RCW 32.08.140.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.12 - Deposits—Earnings—Dividends—Interest. › 32.12.010 - Deposits by individuals governed by chapter 30.22 RCW—Other deposits which a savings bank may establish—Limitations.

RCW 32.12.010
Deposits by individuals governed by chapter 30.22 RCW—Other deposits which a savings bank may establish—Limitations.
Deposits made by individuals in a mutual savings bank under this chapter are governed by *chapter 30.22 RCW. In addition, other deposits which a savings bank may establish include but are not limited to the following:
(1) Deposits in the name of, or on behalf of, a partnership or other form of multiple ownership enterprise.
(2) Deposits in the name of a corporation, society, or unincorporated association.
(3) Deposits maintained by a person, society, or corporation as administrator, executor, guardian, or trustee under a will or trust agreement.
Every such bank may limit the aggregate amount which an individual or any corporation or society may have to his or her or its credit to such sum as such bank may deem expedient to receive; and may in its discretion refuse to receive a deposit, or may at any time return all or any part of any deposits or require the withdrawal of any dividends or interest. Any account in excess of one hundred thousand dollars may only be accepted or held in accordance with such regulations as the director may establish.
[ 1994 c 92 § 323; 1981 c 192 § 27; 1967 c 145 § 1; 1961 c 80 § 1; 1959 c 41 § 2; 1957 c 80 § 4; 1955 c 13 § 32.12.010. Prior: 1953 c 238 § 1; 1949 c 119 § 4; 1941 c 15 § 2; 1929 c 123 § 1; 1927 c 184 § 5; 1921 c 156 § 2; 1919 c 200 § 2; 1915 c 175 § 17; Rem. Supp. 1949 § 3346.]
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 32 - Washington Savings Bank Act › Chapter 32.12 - Deposits—Earnings—Dividends—Interest. › 32.12.020 - Repayment of deposits and dividends.

RCW 32.12.020
Repayment of deposits and dividends.
The sums deposited with any savings bank, together with any dividends or interest credited thereto, shall be repaid to the depositors thereof respectively, or to their legal representatives, after demand in such manner, and at such times, and under such regulations, as the board of trustees shall prescribe, subject to the provisions of this section and *chapter 30.22 RCW. These regulations shall be available to depositors upon request, and shall be posted in a conspicuous place in the principal office and each branch in this state or, if the regulations are not so posted, a description of changes in the regulations after an account is opened shall be mailed to depositors pursuant to 12 U.S.C. Sec. 4305(c) or otherwise. All such rules and regulations, and all amendments thereto, from time to time in effect, shall be binding upon all depositors.
(1) Such bank may at any time by a resolution of its board of trustees require a notice of not more than six months before repaying deposits, in which event no deposit shall be due or payable until the required notice of intention to withdraw the same shall have been personally given by the depositor: PROVIDED, That such bank at its option may pay any deposit or deposits before the expiration of such notice. But no bank shall agree with its depositors or any of them in advance to waive the requirement of notice as herein provided: PROVIDED, That the bank may create a special class of depositors who shall be entitled to receive their deposits upon demand.
(2) The savings bank may pay dividend or interest, or repay a deposit or portion thereof, upon receipt of information in written, oral, visual, electronic, or other form satisfactory to such bank, that the recipient is entitled to receipt, and may pay any check drawn upon it by a depositor.
[ 1999 c 14 § 20; 1996 c 2 § 27; 1994 c 92 § 324; 1985 c 56 § 6; 1983 c 3 § 53; 1981 c 192 § 28; 1974 ex.s. c 117 § 40; 1969 c 55 § 2; 1967 c 145 § 2; 1963 c 176 § 3; 1961 c 80 § 2; 1959 c 41 § 3; 1955 c 13 § 32.12.020. Prior: 1945 c 228 § 6; 1921 c 156 § 3; 1915 c 175 § 18; Rem. Supp. 1945 § 3347.]
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.
Application, construction—Severability—Effective date—1974 ex.s. c 117: See RCW 11.02.080 and notes following.
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.12 - Deposits—Earnings—Dividends—Interest. › 32.12.025 - Withdrawals by savings bank's drafts in accordance with depositor's instructions authorized.

RCW 32.12.025
Withdrawals by savings bank's drafts in accordance with depositor's instructions authorized.
Subject to the provisions of RCW 32.12.020(1), a savings bank may, on instructions from a depositor, effect withdrawals from a savings account by the savings bank's drafts payable to parties and on terms as so instructed; to the extent of the subjection of accounts to such withdrawal instruction, such accounts may be specifically classified under RCW 32.12.090(2) and ineligible to receive interest or eligible only for limited interest.
[ 1967 c 145 § 3.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.12 - Deposits—Earnings—Dividends—Interest. › 32.12.070 - Computation of earnings.

RCW 32.12.070
Computation of earnings.
(1) Gross current operating earnings. Every savings bank shall close its books, for the purpose of computing its net earnings, at the end of any period for which a dividend is to be paid, and in no event less frequently than semiannually. To determine the amount of gross earnings of a savings bank during any dividend period the following items may be included:
(a) All earnings actually received during such period, less interest accrued and uncollected included in the last previous calculation of earnings;
(b) Interest accrued and uncollected upon debts owing to it secured by authorized collateral, upon which there has been no default for more than one year, and upon corporate bonds, or other interest bearing obligations owned by it upon which there is no default;
(c) The sums added to the cost of securities purchased for less than par as a result of amortization;
(d) Any profits actually received during such period from the sale of securities, real estate or other property owned by it;
(e) Such other items as the director, in his or her discretion and upon his or her written consent, may permit to be included.
(2) Net current earnings. To determine the amount of its net earnings for each dividend period the following items shall be deducted from gross earnings:
(a) All expenses paid or incurred, both ordinary and extraordinary, in the transaction of its business, the collection of its debts and the management of its affairs, less expenses incurred and interest accrued upon its debts deducted at the last previous calculation of net earnings for dividend purposes;
(b) Interest paid or accrued and unpaid upon debts owing by it;
(c) The amounts deducted through amortization from the cost of bonds or other interest bearing obligations purchased above par in order to bring them to par at maturity;
(d) Contributions to any corporation or any community chest fund or foundation organized and operated exclusively for religious, charitable, scientific, literary or educational purposes, no part of the net earnings of which inures to the benefit of any private shareholder or individual and no substantial part of the activities of which is carrying on propaganda or otherwise attempting to influence legislation. The total contributions for any calendar year shall not exceed a sum equal to one-half of one percent of the net earnings of such savings bank for the preceding calendar year.
The balance thus obtained shall constitute the net earnings of the savings bank for such period.
(3) Earnings paid by a savings bank on deposits may be referred to as "dividends" or as "interest".
[ 1994 c 92 § 327; 1955 c 80 § 3; 1955 c 13 § 32.12.070. Prior: 1953 c 238 § 2; 1941 c 15 § 3; 1915 c 175 § 23; Rem. Supp. 1941 § 3352.]
2023 Revised Code of Washington › Title 32 - Washington Savings Bank Act › Chapter 32.12 - Deposits—Earnings—Dividends—Interest. › 32.12.080 - Misleading advertisement of surplus or guaranty fund.

RCW 32.12.080
Misleading advertisement of surplus or guaranty fund.
No savings bank shall put forth any sign or notice or publish or circulate any advertisement or advertising literature upon which or in which it is stated that such savings bank has a surplus or guaranty fund other than as determined in the manner prescribed by law.
[ 1955 c 13 § 32.12.080. Prior: 1929 c 123 § 5; 1915 c 175 § 27; RRS § 3356.]