reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.100 - Notice of approval—Filing—Time period for commencing business.

RCW 30A.42.100
Notice of approval—Filing—Time period for commencing business.
If the director approves the application, he or she shall notify the alien bank of his or her approval and shall file certified copies of its charter, certificate or other authorization to do business with the secretary of state. Upon such filing, the director shall issue a certificate of authority stating that the alien bank is authorized to conduct business through a branch or agency in this state at the place designated in accordance with this chapter. Each such certificate shall be conspicuously displayed at all times in the place of business specified therein.
The office of the alien bank must commence business within six months after the issuance of the director's certificate: PROVIDED, That the director for good cause shown may extend such period for an additional time not to exceed three months.
[ 1994 c 92 § 86; 1985 c 305 § 7; 1973 1st ex.s. c 53 § 10. Formerly RCW 30.42.100.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.105 - Power to make loans and to guarantee obligations.

RCW 30A.42.105
Power to make loans and to guarantee obligations.
An approved branch of an alien bank shall have the same power to make loans and guarantee obligations as a state bank chartered pursuant to this title: PROVIDED, HOWEVER, That the base for computing the applicable loan limitation shall be the entire capital and surplus of the alien bank. The director may adopt rules limiting the amount of loans to full-time employees of the branch.
[ 2014 c 37 § 215; 1994 c 92 § 87; 1982 c 95 § 4. Formerly RCW 30.42.105.]
NOTES:
Effective date—1982 c 95: See note following RCW 30A.42.070.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.120 - Requirements for accepting deposits or transacting business.

RCW 30A.42.120
Requirements for accepting deposits or transacting business.
A branch shall not commence to transact in this state the business of accepting deposits or transact such business thereafter unless it has met the following requirements:
(1) It has obtained federal deposit insurance corporation insurance covering its eligible deposit liabilities within this state, or in lieu thereof, made arrangements satisfactory to the director for maintenance within this state of additional capital equal to not less than five percent of its deposit liabilities, computed on the basis of the average daily net deposit balances covering semimonthly periods as prescribed by the director. Such additional capital shall be deposited in the manner provided in RCW 30A.42.070.
(2) It holds in this state currency, bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness or other obligations payable in the United States or in United States funds or, with the approval of the director, in funds freely convertible into United States funds or such other assets as are approved by the director, in an amount not less than one hundred percent of the aggregate amount of liabilities of such alien bank payable at or through its office in this state. When calculating the value of the assets so held, credit shall be given for the amounts deposited pursuant to RCW 30A.42.060(3) and 30A.42.120(1), but there shall be excluded all amounts due from the head office and any other branch, agency, or other office or wholly-owned subsidiary of the bank, except those amounts due from such offices or subsidiaries located within the United States and payable in United States dollars.
(3) If deposits are not insured by the federal deposit insurance corporation, then that fact shall be disclosed to all depositors pursuant to rules of the director.
(4) If the branch conducts an international banking facility, the deposits of which are exempt from reserve requirements of the federal reserve banking system, the liabilities of that facility shall be excluded from the deposit and other liabilities of the branch for the purposes of subsection (1) of this section.
[ 2014 c 37 § 217; 1994 c 92 § 89; 1982 c 95 § 2; 1975 1st ex.s. c 285 § 2; 1973 1st ex.s. c 53 § 12. Formerly RCW 30.42.120.]
NOTES:
Effective date—1982 c 95: See note following RCW 30A.42.070.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.140 - Investigations—Examinations.

RCW 30A.42.140
Investigations—Examinations.
The director, without previous notice, shall visit the office of an alien bank doing business in this state pursuant to this chapter at least once every eighteen months, and more often if necessary, for the purpose of making a full investigation into the condition of such office, and for that purpose they are hereby empowered to administer oaths and to examine under oath any director or member of its governing body, officer, employee, or agent of such alien bank or office. The director shall make such other full or partial examination as he or she deems necessary. The director shall collect, from each alien bank for each examination of the conditions of its office in this state, the estimated actual cost of such examination.
[ 2001 c 176 § 1; 1994 c 92 § 91; 1982 c 95 § 3; 1973 1st ex.s. c 53 § 14. Formerly RCW 30.42.140.]
NOTES:
Effective date—1982 c 95: See note following RCW 30A.42.070.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.150 - Loans subject to usury laws.

RCW 30A.42.150
Loans subject to usury laws.
Loans made by an office shall be subject to the laws of the state of Washington relating to usury.
[ 1973 1st ex.s. c 53 § 15. Formerly RCW 30.42.150.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.155 - Powers and activities.

RCW 30A.42.155
Powers and activities.
(1) In addition to the taking of deposits and making of loans as provided in this chapter, a branch of an alien bank shall have the power only to carry out these other activities:
(a) Borrow funds from banks and other financial institutions;
(b) Make investments to the same extent as a state bank chartered pursuant to this title;
(c) Buy and sell foreign exchange;
(d) Receive checks, bills, drafts, acceptances, notes, bonds, coupons, and other securities for collection abroad and collect such instruments in the United States for customers abroad;
(e) Hold securities in safekeeping for, or buy and sell securities upon the order and for the risk of, customers abroad;
(f) Act as paying agent for securities issued by foreign governments or other organizations organized under foreign law and not qualified under the laws of the United States, or of any state or the District of Columbia, to do business in the United States;
(g) In order to prevent loss on debts previously contracted a branch may acquire shares in a corporation: PROVIDED, That the shares are disposed of as soon as practical but in no event later than two years from the date of acquisition;
(h) Issue letters of credit and create acceptances;
(i) Act as paying agent or trustee in connection with revenue bonds issued pursuant to chapter 39.84 RCW, in which the user is: (i) A corporation organized under the laws of a country other than the United States, or a subsidiary or affiliate owned or controlled by such a corporation; or (ii) a corporation, partnership, or other business organization, the majority of the beneficial ownership of which is owned by persons who are citizens of a country other than the United States and who are not residents of the United States, and any subsidiary or affiliate owned or controlled by such an organization; or in which the bank purchases twenty-five percent or more of the bond issue. For the purposes of chapter 39.84 RCW, such an alien bank shall be deemed to possess trust powers.
(2) In addition to the powers and activities expressly authorized by this section, a branch shall have the power to carry on such additional activities which are necessarily incidental to the activities expressly authorized by this section.
[ 2014 c 37 § 219; 1982 c 95 § 5. Formerly RCW 30.42.155.]
NOTES:
Effective date—1982 c 95: See note following RCW 30A.42.070.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.160 - Powers as to real estate.

RCW 30A.42.160
Powers as to real estate.
An alien bank may purchase, hold and convey real estate for the following purposes and no other:
(1) Such as shall be necessary for the convenient transaction of its business, including with its banking offices other apartments in the same building to rent as a source of income: PROVIDED, That not to exceed thirty percent of its capital and surplus and undivided profits may be so invested without the approval of the director.
(2) Such as shall be purchased or conveyed to it in satisfaction, or on account of, debts previously contracted in the course of business.
(3) Such as it shall purchase at sale under judgments, decrees, liens or mortgage foreclosures, against securities held by it.
(4) Such as it may take title to or for the purpose of investing in real estate conditional sales contracts.
(5) Such as shall be convenient for the residences of its employees.
No real estate except that specified in subsections (1) and (5) of this section may be carried as an asset on the corporation's books for a longer period than five years from the date title is acquired thereto, unless an extension of time be granted by the director.
[ 1994 c 92 § 92; 1975 1st ex.s. c 285 § 3; 1973 1st ex.s. c 53 § 16. Formerly RCW 30.42.160.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.170 - Advertising, status of federal insurance on deposits to be included—Gifts for new deposits.

RCW 30A.42.170
Advertising, status of federal insurance on deposits to be included—Gifts for new deposits.
(1) An alien bank that advertises the services of its branch in the state of Washington shall indicate on all advertising materials whether or not deposits placed with its branch are insured by the federal deposit insurance corporation.
(2) A branch shall not make gifts to a new deposit customer of a greater value than five dollars in total. The value of the gifts shall be the cost to the branch of acquiring said gift.
[ 1973 1st ex.s. c 53 § 17. Formerly RCW 30.42.170.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.180 - Approved agencies—Powers and activities.

RCW 30A.42.180
Approved agencies—Powers and activities.
An approved agency of an alien bank may engage in the business of making loans and guaranteeing obligations for the financing of the international movement of goods and services and for all operational needs including working capital and short-term operating needs and for the acquisition of fixed assets. Other than such activities, such agency may engage only in the following activities:
(1) Borrow funds from banks and other financial institutions;
(2) Buy and sell foreign exchange;
(3) Receive checks, bills, drafts, acceptances, notes, bonds, coupons, and other securities for collection abroad and collect such instruments in the United States for customers abroad;
(4) Hold securities in safekeeping for, or buy and sell securities upon the order and for the risk of, customers abroad;
(5) Act as paying agent for securities issued by foreign governments or other organizations organized under foreign law and not qualified under the laws of the United States, or any state or the District of Columbia to do business in the United States;
(6) In order to prevent loss on debts previously contracted, an agency may acquire shares in a corporation: PROVIDED, That the shares are disposed of as soon as practical, but in no event later than two years from the date of acquisition;
(7) Issue letters of credit and create acceptances;
(8) In addition to the powers and activities expressly authorized by this section, an agency shall have the power to carry on such additional activities which are necessarily incidental to the activities expressly authorized by this section.
[ 1973 1st ex.s. c 53 § 18. Formerly RCW 30.42.180.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.190 - Bonding requirements for officers and employees.

RCW 30A.42.190
Bonding requirements for officers and employees.
All officers and employees of an office shall be subject to the same bonding requirements as are officers and employees of banks incorporated under the laws of this state.
[ 1973 1st ex.s. c 53 § 19. Formerly RCW 30.42.190.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.200 - Books and accounts—English language.

RCW 30A.42.200
Books and accounts—English language.
The books and accounts of an office and a bureau shall be kept in words and figures of the English language.
[ 1973 1st ex.s. c 53 § 20. Formerly RCW 30.42.200.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.210 - Bureaus—Application procedure.

RCW 30A.42.210
Bureaus—Application procedure.
(1) Application procedure. An alien bank shall not establish and operate a bureau in this state unless it is authorized to do so and unless it has met the following conditions:
(a) It has filed with the director an application in such form and containing such information as shall be prescribed by the director;
(b) It has paid the fee required by law and established by the director pursuant to *RCW 30.08.095;
(c) It has received from the director a certificate authorizing the applicant bank to establish and operate a bureau in conformity herewith.
(2) Upon receipt of the bank's application, and the conducting of such examination or investigation as the director deems necessary and appropriate and being satisfied that the opening of such bureau will be consistent with the purposes of this chapter, the director may grant approval for the bureau and issue a certificate authorizing the alien bank to establish and operate a bureau in the state of Washington.
[ 1994 c 92 § 93; 1973 1st ex.s. c 53 § 21. Formerly RCW 30.42.210.]
NOTES:
*Reviser's note: RCW 30.08.095 was repealed by 2013 c 76 § 32.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.220 - Bureaus—Approval—Certificate of authority—Time limit for commencing business.

RCW 30A.42.220
Bureaus—Approval—Certificate of authority—Time limit for commencing business.
If the director approves the application, he or she shall notify the alien bank of his or her approval and shall file certified copies of its charter, certificate, or other authorization to do business with the secretary of state and with the recording officer of the county in which the bureau is to be located. Upon such filing, the director shall issue a certificate of authority stating that the alien bank is authorized to operate a bureau in this state at the place designated in accordance with this chapter. No such certificate shall be transferable or assignable. Such certificate shall be conspicuously displayed at all times in the place of business specified therein.
A bureau of an alien bank must commence business within six months after the issuance of the director's certificate: PROVIDED, That the director for good cause shown may extend such period for an additional time not to exceed three months.
[ 1994 c 92 § 94; 1973 1st ex.s. c 53 § 22. Formerly RCW 30.42.220.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.230 - Bureaus—Number—Powers.

RCW 30A.42.230
Bureaus—Number—Powers.
An alien bank may have as many bureaus in this state as the director will authorize. A bureau in this state may provide information about services offered by the alien bank, its subsidiaries and affiliates and may gather and provide business and economic information. A bureau may not take deposits, make loans or transact other commercial or banking business in this state.
[ 1994 c 92 § 95; 1973 1st ex.s. c 53 § 23. Formerly RCW 30.42.230.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.240 - Bureaus—Examinations.

RCW 30A.42.240
Bureaus—Examinations.
The director is empowered to examine the bureau operations of an alien bank whenever he or she deems it necessary. The director shall collect from such alien bank the estimated actual cost of such examination.
[ 1994 c 92 § 96; 1973 1st ex.s. c 53 § 24. Formerly RCW 30.42.240.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.250 - Temporary facilities at trade fairs, etc.

RCW 30A.42.250
Temporary facilities at trade fairs, etc.
An alien bank may operate temporary facilities at trade fairs or other commercial events of short duration without first obtaining the approval of the director: PROVIDED, That the activities of such temporary facility are limited solely to the dissemination of information: AND PROVIDED FURTHER, If an alien bank engages in such activity, it shall notify the director in writing prior to opening of the nature and location of such facility. The director is empowered to investigate the operation of such temporary facility if he or she deems it necessary, and to collect from the alien bank the estimated actual cost thereof.
[ 1994 c 92 § 97; 1973 1st ex.s. c 53 § 25. Formerly RCW 30.42.250.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.260 - Reports.

RCW 30A.42.260
Reports.
(1) An office of an alien bank shall file the following reports with the director within such times and in such form as the director shall prescribe by rule:
(a) A statement of condition of the office;
(b) A capital position report of the office;
(c) A consolidated statement of condition of an alien bank.
(2) An office of an alien bank shall publish such reports as the director by rule may prescribe.
(3) An alien bank operating a bureau in this state shall file a copy of the alien bank's annual financial report with the director as soon as possible following the end of each fiscal year and shall file such other material as the director may prescribe by rule.
[ 1994 c 92 § 98; 1973 1st ex.s. c 53 § 26. Formerly RCW 30.42.260.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.270 - Taxation.

RCW 30A.42.270
Taxation.
An office of an alien bank shall be taxed on the same basis as are banks incorporated under the laws of this state.
[ 1973 1st ex.s. c 53 § 27. Formerly RCW 30.42.270.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.280 - Directors, officers, and employees—Duties, responsibilities and restrictions—Removal.

RCW 30A.42.280
Directors, officers, and employees—Duties, responsibilities and restrictions—Removal.
The directors or other governing body of an alien bank and the officers and employees of its office in this state shall be subject to all of the duties, responsibilities and restrictions to which the directors, officers and employees of a bank organized under the laws of this state are subject insofar as such duties, responsibilities and restrictions are not inconsistent with the intent of this chapter. An officer or employee of the office of an alien bank doing business in this state pursuant to this chapter may be removed for the reasons stated and in the manner provided in RCW 30A.12.040.
[ 2014 c 37 § 220; 1973 1st ex.s. c 53 § 28. Formerly RCW 30.42.280.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.290 - Compliance—Violations—Penalties.

RCW 30A.42.290
Compliance—Violations—Penalties.
(1) The director shall have the responsibility for assuring compliance with the provisions of this chapter. An alien bank that conducts business in this state in violation of any provisions of this chapter is guilty of a misdemeanor and in addition thereto shall be liable in the sum of one hundred dollars per day that each such offense continues, such sum to be recovered by the attorney general in a civil action in the name of the state.
(2) Every person who shall knowingly subscribe to or make or cause to be made any false entry in the books of any alien bank office or bureau doing business in this state pursuant to this chapter or shall knowingly subscribe to or exhibit any false or fictitious paper or security, instrument or paper, with the intent to deceive any person authorized to examine into the affairs of any such office or bureau or shall make, state or publish any false statement of the amount of the assets or liabilities of any such office or bureau is guilty of a class B felony punishable according to chapter 9A.20 RCW.
(3) Every director or member of the governing body, officer, employee or agent of such alien bank operating an office or bureau in this state who conceals or destroys any fact or otherwise suppresses any evidence relating to a violation of this chapter is guilty of a class B felony punishable according to chapter 9A.20 RCW.
(4) Any person who transacts business in this state on behalf of an alien bank which is subject to the provisions of this chapter, but which is not authorized to transact such business pursuant to this chapter is guilty of a misdemeanor and in addition thereto shall be liable in the sum of one hundred dollars per day for each day that such offense continues, such sum to be recovered by the attorney general in a civil action in the name of the state.
[ 2003 c 53 § 189; 1994 c 92 § 99; 1973 1st ex.s. c 53 § 29. Formerly RCW 30.42.290.]
NOTES:
Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.300 - Suspension or revocation of certificate to operate—Grounds.

RCW 30A.42.300
Suspension or revocation of certificate to operate—Grounds.
If the director finds that any alien bank to which he or she has issued a certificate to operate an office or bureau in this state pursuant to this chapter has violated any law or rule, or has conducted its affairs in an unauthorized manner, or has been unresponsive to the director's lawful orders or directions, or is in an unsound or unsafe condition, or cannot with safety and expediency continue business, or if he or she finds that the alien bank's country is unjustifiably refusing to allow banks qualified to do business in and having their principal office within this state to operate offices or similar operations in such country, the director may suspend or revoke the certificate of such alien bank and notify it of such suspension or revocation.
[ 1994 c 92 § 100; 1973 1st ex.s. c 53 § 30. Formerly RCW 30.42.300.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.310 - Change of location.

RCW 30A.42.310
Change of location.
An alien bank licensed to maintain an office or bureau in this state pursuant to this chapter may apply to the director for leave to change the location of its office or bureau. Such applications shall be accompanied by an investigation fee as established in accordance with RCW 30A.42.330. Leave for a change of location shall be granted if the director finds that the proposed new location offers reasonable promise of adequate support for the office.
[ 2014 c 37 § 221; 1994 c 92 § 101; 1973 1st ex.s. c 53 § 31. Formerly RCW 30.42.310.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.320 - Rules.

RCW 30A.42.320
Rules.
The director shall have power to adopt uniform rules to govern examination and reports of alien bank offices and bureaus doing business in this state pursuant to this chapter and the form in which they shall report their assets, liabilities, and reserves, charge off bad debts and otherwise keep their records and accounts and otherwise to govern the administration of this chapter.
[ 1994 c 92 § 102; 1973 1st ex.s. c 53 § 32. Formerly RCW 30.42.320.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.330 - Fees.

RCW 30A.42.330
Fees.
The director shall collect in advance from an alien bank for filing its application for an office or a bureau and the attendant investigation, and for such other applications, approvals or certificates provided herein, such fee as shall be established by rule adopted pursuant to the administrative procedure act, chapter 34.05 RCW, as now or hereafter amended. The alien bank shall also pay to the secretary of state and the county recording officer for filing instruments as required by this chapter the same fees as are charged general corporations for the filing of similar instruments and also the same license fees as are required of foreign corporations doing business in this state.
[ 1994 c 92 § 103; 1973 1st ex.s. c 53 § 33. Formerly RCW 30.42.330.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.42 - Alien Banks. › 30A.42.340 - Alien banks or branches in business on or before effective date.

RCW 30A.42.340
Alien banks or branches in business on or before effective date.
(1) Any branch of an alien bank that is conducting business in this state on July 16, 1973 pursuant to RCW 30A.04.300 shall not be subject to the provisions of this chapter, and shall continue to conduct its business pursuant to RCW 30A.04.300.
(2) Except as provided in subsection (1) of this section, any alien bank that is conducting business in this state on July 16, 1973 shall be subject to the provisions of this chapter: PROVIDED, That any such alien bank which has operated an agency or similar operation in this state for at least the five years immediately preceding such effective date shall not be denied a certificate to operate an agency.
[ 2014 c 37 § 222; 1973 1st ex.s. c 53 § 34. Formerly RCW 30.42.340.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.43 - Satellite Facilities. › 30A.43.005 - Finding—Definition of "off-premises electronic facilities."

RCW 30A.43.005
Finding—Definition of "off-premises electronic facilities."
The legislature finds that the establishment and operation of off-premises electronic facilities, inside and outside the state of Washington, and the participation by financial institutions in arrangements for the sharing of such facilities, facilitates the delivery of financial services to the citizens of the state of Washington. The term "off-premises electronic facilities" includes, without limitation, automated teller machines, cash-dispensing machines, point-of-sale terminals, and merchant-operated terminals.
[ 1994 c 256 § 57. Formerly RCW 30.43.005.]
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.010 - Notice to correct unsafe conditions—Possession may be taken under specified circumstances.

RCW 30A.44.010
Notice to correct unsafe conditions—Possession may be taken under specified circumstances.
(1) Under the circumstances set forth in subsection (2) of this section, the director may give to a bank a notice to correct an unsafe condition of the bank; and if such bank fails to comply with the terms of such notice within thirty days from the date of its issuance or within such further time as the director may allow, then the director may take possession of such bank as in the case of insolvency.
(2) The director is authorized to give notice and take possession of a bank, as described in subsection (1) of this section, under the following circumstances:
(a) The obligations to its creditors, depositors, members, trust beneficiaries, if applicable, and others exceed its assets;
(b) It has willfully violated a supervisory directive, cease and desist order, or other authorized directive or order of the director;
(c) It has concealed its books, papers, records, or assets, or refused to submit its books, records, or affairs to any examiner of the department or the federal deposit insurance corporation;
(d) It is likely to be unable to pay its obligations or meet its depositors' demands in the normal course of business;
(e) It ceases to have deposit insurance acceptable to the director;
(f) It fails to submit a capital restoration plan acceptable to the department within a time previously called for or materially fails to implement a capital restoration plan that was previously submitted and accepted by the department; or
(g) It is critically undercapitalized or otherwise has substantially insufficient capital.
[ 2014 c 37 § 223; 2010 c 88 § 30; 1994 c 92 § 107; 1955 c 33 § 30.44.010. Prior: 1917 c 80 § 59; 1915 c 98 § 1; RRS § 3266. Formerly RCW 30.44.010.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.020 - Director may order levy of assessment.

RCW 30A.44.020
Director may order levy of assessment.
(1) Whenever it shall in any manner appear to the director that any offense or delinquency referred to in RCW 30A.44.010 has resulted in a bank being critically undercapitalized with no reasonably foreseeable prospect of recovery, or that it has suspended payment of its obligations or is insolvent, the director may notify such bank to levy an assessment on its stock or otherwise to make good such impairment or offense or other delinquency within such time and in such manner as the director may specify, or if the director deems necessary, the director may take possession thereof without notice.
(2) The board of directors of any such bank, with the consent of the holders of record of two-thirds of the capital stock expressed either in writing or by vote at a stockholders' meeting called for that purpose, shall have power and authority to levy such assessment upon the stockholders pro rata and to forfeit the stock upon which any such assessment is not paid, in the manner prescribed in RCW 30A.12.180.
[ 2014 c 37 § 224; 2010 c 88 § 31; 1994 c 92 § 108; 1955 c 33 § 30.44.020. Prior: 1923 c 115 § 9; 1917 c 80 § 60; RRS § 3267. Formerly RCW 30.44.020.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Levy of assessments: RCW 30A.12.180.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.030 - Director's right to take possession may be contested.

RCW 30A.44.030
Director's right to take possession may be contested.
Within ten days after the director takes possession thereof, a bank may serve a notice upon the director to appear before the superior court of the county wherein such corporation is located and at a time to be fixed by the court, which shall not be less than five nor more than fifteen days from the date of the service of such notice, to show cause why the director's action taking possession of the bank should not be affirmed. Upon the return day of such notice, or such further day as the matter may be continued to, the court shall summarily hear said cause and shall dismiss the same, if it be found that possession was taken by the director in good faith and for cause, but if it find that no cause existed for the taking possession of such bank, it shall require the director to restore such bank to possession of its assets and enjoin the director from further interference therewith without cause.
[ 2014 c 37 § 225; 2010 c 88 § 32; 1994 c 92 § 109; 1955 c 33 § 30.44.030. Prior: 1917 c 80 § 68; RRS § 3275. Formerly RCW 30.44.030.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.040 - Notice of taking possession.

RCW 30A.44.040
Notice of taking possession.
Upon taking possession of any bank, the director shall forthwith give written notice thereof to all persons having possession of any assets of such corporation. No person knowing of the taking of such possession by the director shall have a lien or charge for any payment thereafter advanced or clearance thereafter made or liability thereafter incurred against any of the assets of such corporation.
[ 2014 c 37 § 226; 1994 c 92 § 110; 1955 c 33 § 30.44.040. Prior: 1917 c 80 § 61; 1915 c 98 § 2; RRS § 3268. Formerly RCW 30.44.040.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.050 - Powers and duties of director.

RCW 30A.44.050
Powers and duties of director.
Upon taking possession of any bank, the director shall proceed to collect the assets thereof and to preserve, administer and liquidate the business and assets of such corporation. With the approval of the superior court of the county in which such corporation is located, he or she may sell, compound or compromise bad or doubtful debts, and upon such terms as the court shall direct borrow, mortgage, pledge or sell all or any part of the real estate and personal property of such corporation. He or she shall deliver to each purchaser or lender an appropriate deed, mortgage, agreement of pledge or other instrument of title or security. If real estate is situated outside of said county, a certified copy of the orders authorizing and confirming the sale or mortgage thereof shall be filed for record in the office of the auditor of the county in which such property is situated. He or she may appoint special assistants and other necessary agents to assist in the administration and liquidation of such corporation, a certificate of such appointment to be filed with the clerk of the county in which such corporation is located. He or she shall require each special assistant to give a surety company bond, conditioned as he or she shall provide, the premium of which shall be paid out of the assets of such corporation. He or she may also employ an attorney for legal assistance in such administration and liquidation.
[ 2014 c 37 § 227; 1994 c 92 § 111; 1955 c 33 § 30.44.050. Prior: 1933 c 42 § 25; 1917 c 80 § 62; 1915 c 98 § 3; RRS § 3269. Formerly RCW 30.44.050.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.060 - Notice to creditors—Claims.

RCW 30A.44.060
Notice to creditors—Claims.
The director shall publish once a week for four consecutive weeks in a newspaper which he or she shall select, a notice requiring all persons having claims against such corporation to make proof thereof at the place therein specified not later than ninety days from the date of the first publication of said notice, which date shall be therein stated. He or she shall mail similar notices to all persons whose names appear as creditors upon the books of the corporation. He or she may approve or reject any claims, but shall serve notice of rejection upon the claimant by mail or personally. An affidavit of service of such notice shall be prima facie evidence thereof. No action shall be brought on any claim after three months from the date of service of notice of rejection.
Claims of depositors may be presented after the expiration of the time fixed in the notice, and, if approved, shall be entitled to their proportion of prior dividends, if there be funds sufficient therefor, and shall share in the distribution of the remaining assets.
After the expiration of the time fixed in the notice the director shall have no power to accept any claim except the claim of a depositor, and all claims except the claims of depositors shall be barred.
[ 1994 c 92 § 112; 1955 c 33 § 30.44.060. Prior: 1923 c 115 § 10; 1917 c 80 § 63; 1915 c 98 § 4; RRS § 3270. Formerly RCW 30.44.060.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.070 - Inventory—List of claims.

RCW 30A.44.070
Inventory—List of claims.
Upon taking possession of such corporation, the director shall make an inventory of the assets in duplicate and file one in his or her office and one in the office of the county clerk. Upon the expiration of the time fixed for the presentation of claims, he or she shall make a duplicate list of claims presented, segregating those approved and those rejected, to be filed as aforesaid. He or she shall also make and file a supplemental list of claims at least fifteen days before the declaration of any dividend, and in any event at least every six months.
[ 1994 c 92 § 113; 1955 c 33 § 30.44.070. Prior: 1917 c 80 § 65; 1915 c 98 § 6; RRS § 3272. Formerly RCW 30.44.070.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.080 - Objections to approved claims.

RCW 30A.44.080
Objections to approved claims.
Objection may be made by any interested person to any claim approved by the director, which objection shall be determined by the court upon such notice to the claimant and objector as the court shall prescribe.
[ 1994 c 92 § 114; 1955 c 33 § 30.44.080. Prior: 1917 c 80 § 67; 1915 c 98 § 8; RRS § 3274. Formerly RCW 30.44.080.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.090 - Dividends.

RCW 30A.44.090
Dividends.
At any time after the expiration of the date fixed for the presentation of claims, the director, subject to the approval of the court, may declare one or more dividends out of the funds remaining in his or her hands after the payment of expenses.
[ 1994 c 92 § 115; 1955 c 33 § 30.44.090. Prior: 1917 c 80 § 66; 1915 c 98 § 7; RRS § 3273. Formerly RCW 30.44.090.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.100 - Receiver prohibited except in emergency.

RCW 30A.44.100
Receiver prohibited except in emergency.
No receiver shall be appointed by any court for any bank, nor shall any assignment of any bank for the benefit of creditors be valid, excepting only that a court otherwise having jurisdiction may in case of imminent necessity appoint a temporary receiver to take possession of and preserve the assets of such corporation. Immediately upon any such appointment, the clerk of such court shall notify the director in writing of such appointment and the director shall forthwith take possession of such bank, as in case of insolvency, and the temporary receiver shall upon demand of the director surrender up to him or her such possession and all assets which shall have come into the possession of such receiver. The director shall in due course pay such receiver out of the assets of such corporation such amount as the court shall allow.
[ 2014 c 37 § 228; 2010 c 88 § 33; 1994 c 92 § 116; 1955 c 33 § 30.44.100. Prior: 1917 c 80 § 69; 1915 c 98 § 9; RRS § 3276. Formerly RCW 30.44.100.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.110 - Preferences prohibited—Penalty.

RCW 30A.44.110
Preferences prohibited—Penalty.
(1) Every transfer of its property or assets by any bank, made (a) in contemplation of insolvency or after it shall have become insolvent, (b) within ninety days before the date the director takes possession of such bank under RCW 30A.44.010, 30A.44.020, 30A.44.100, or 30A.44.160, or the federal deposit insurance corporation is appointed as receiver or liquidator of such bank under RCW 30A.44.270, and (c) with a view to the preference of one creditor over another or to prevent the equal distribution of its property and assets among its creditors, shall be void.
(2) Every director, officer, or employee of a bank making any such transfer of assets is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2014 c 37 § 229; 2010 c 88 § 34; 2003 c 53 § 190; 1955 c 33 § 30.44.110. Prior: 1917 c 80 § 55; RRS § 3262. Formerly RCW 30.44.110.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.120 - Receiving deposits when insolvent—Penalty.

RCW 30A.44.120
Receiving deposits when insolvent—Penalty.
An officer, director, or employee of any bank who shall fraudulently receive for it any deposit, knowing that such bank or trust company is insolvent, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2014 c 37 § 230; 2003 c 53 § 191; 1955 c 33 § 30.44.120. Prior: 1933 c 42 § 26; 1917 c 80 § 81; RRS § 3288. Formerly RCW 30.44.120.]
NOTES:
Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.
Receiving deposits after insolvency prohibited: State Constitution Art. 12 § 12.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.130 - Expense of liquidation.

RCW 30A.44.130
Expense of liquidation.
All expenses incurred by the director in taking possession, administering and winding up any such corporation, including the expenses of assistants and reasonable fees for any attorney who may be employed in connection therewith, and the reasonable compensation of any special assistant placed in charge of such corporation shall be a first charge upon the assets thereof. Such charges shall be fixed by the director, subject to the approval of the court.
[ 1994 c 92 § 117; 1955 c 33 § 30.44.130. Prior: 1917 c 80 § 64; 1915 c 98 § 5; RRS § 3271. Formerly RCW 30.44.130.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.140 - Liquidation after claims are paid.

RCW 30A.44.140
Liquidation after claims are paid.
When all proper claims of depositors and creditors (not including stockholders) have been paid, as well as all expenses of administration and liquidation and proper provision has been made for unclaimed or unpaid deposits and dividends, and assets still remain in his or her hands, the director shall call a meeting of the stockholders of such corporation, giving thirty days' notice thereof, by one publication in a newspaper published in the county where such corporation is located. At such meeting, each share shall entitle the holder thereof to a vote in person or by proxy. A vote by ballot shall be taken to determine whether the director shall wind up the affairs of such corporation or the stockholders appoint an agent to do so. The director, if so required, shall wind up such corporation and distribute its assets to those entitled thereto. If the appointment of an agent is determined upon, the stockholders shall forthwith select such agent by ballot. Such agent shall file a bond to the state of Washington in such amount and so conditioned as the director shall require. Thereupon the director shall transfer to such agent the assets of such corporation then remaining in his or her hands, and be relieved from further responsibility in reference to such corporation. Such agent shall convert the assets of such corporation into cash and distribute the same to the parties thereunto entitled, subject to the supervision of the court. In case of his or her death, removal or refusal to act, the stockholders may select a successor with like powers.
[ 1994 c 92 § 118; 1955 c 33 § 30.44.140. Prior: 1917 c 80 § 70; RRS § 3277. Formerly RCW 30.44.140.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.150 - Unclaimed dividends—Disposition.

RCW 30A.44.150
Unclaimed dividends—Disposition.
Any dividends to depositors or other creditors of such bank remaining uncalled for and unpaid in the hands of the director for six months after order of final distribution, shall be deposited in a bank to his or her credit, in trust for the benefit of the persons entitled thereto and subject to the supervision of the court shall be paid by him or her to them upon receipt of satisfactory evidence of their right thereto.
All moneys so deposited remaining unclaimed for five years after deposit shall escheat to the state for the benefit of the permanent school fund and shall be paid by the director into the state treasury. It shall not be necessary to have the escheat adjudged in a suit or action.
[ 2014 c 37 § 231; 1994 c 92 § 119; 1955 c 33 § 30.44.150. Prior: 1923 c 115 § 11; 1917 c 80 § 71; RRS § 3278. Formerly RCW 30.44.150.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.160 - Voluntary closing—Possession of the director—Notice.

RCW 30A.44.160
Voluntary closing—Possession of the director—Notice.
(1) Subject to the consent of the director, a bank may voluntarily stipulate and consent to an order taking possession and thereby place itself under the control of the director to be liquidated and be made subject to receivership as provided in this chapter.
(2) Upon issuance of such order taking possession, the bank shall post a notice on its door as follows: "This bank is in the possession of the Director of the Washington State Department of Financial Institutions."
(3) The posting of such notice or the taking possession of any bank by the director shall be sufficient to place all of its assets and property of every nature in his or her possession and bar all attachment proceedings.
[ 2014 c 37 § 232; 2010 c 88 § 35; 1994 c 92 § 120; 1955 c 33 § 30.44.160. Prior: 1917 c 80 § 72; RRS § 3279. Formerly RCW 30.44.160.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.170 - Voluntary liquidation—Notice to creditors.

RCW 30A.44.170
Voluntary liquidation—Notice to creditors.
Any bank may, upon receipt of written permission from the director, go into voluntary liquidation by a vote of its stockholders owning two-thirds of its capital stock. When such liquidation is authorized, the directors of such corporation shall publish in a newspaper published in the place where such corporation is located, once a week for four consecutive weeks, a notice requiring creditors of such corporation to present their claims against it for payment.
[ 2014 c 37 § 233; 1994 c 92 § 121; 1955 c 33 § 30.44.170. Prior: 1917 c 80 § 74; RRS § 3281. Formerly RCW 30.44.170.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.44 - Insolvency and Liquidation. › 30A.44.180 - Unclaimed dividends on voluntary liquidation.

RCW 30A.44.180
Unclaimed dividends on voluntary liquidation.
Whenever any bank shall voluntarily liquidate, any dividends to depositors or other creditors of such bank remaining uncalled for and unpaid at the conclusion of the liquidation shall be transmitted to the director and shall be deposited by him or her in a bank or trust company to his or her credit in trust for the benefit of the persons entitled thereto, and shall be paid by him or her to them upon receipt of satisfactory evidence of their right thereto.
All moneys so deposited remaining unclaimed for five years after deposit shall escheat to the state for the benefit of the permanent school fund and shall be paid by the director into the state treasury. It shall not be necessary to have the escheat adjudged in a suit or action.
[ 2014 c 37 § 234; 1994 c 92 § 122; 1955 c 33 § 30.44.180. Prior: 1947 c 148 § 1; Rem. Supp. 1947 § 3281-1. Formerly RCW 30.44.180.]