reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.040 - Removal of a board director, officer, or employee—Prohibiting participation in bank or holding company affairs—Grounds—Notice.

RCW 30A.12.040
Removal of a board director, officer, or employee—Prohibiting participation in bank or holding company affairs—Grounds—Notice.
(1) The director may issue and serve a board director, officer, or employee of a bank with written notice of intent to remove the person from office or employment or to prohibit the person from participating in the conduct of the affairs of the bank or any other depository institution, bank holding company, thrift holding company, or financial holding company doing business in this state whenever, in the opinion of the director:
(a) Reasonable cause exists to believe the person has committed a material violation of law, an unsafe and unsound practice, or a violation or practice involving a breach of fiduciary duty, personal dishonesty, recklessness, or incompetence; and
(b) The bank or holding company has suffered or is likely to suffer substantial financial loss or other damage; or
(c) The interests of depositors or trust beneficiaries could be seriously prejudiced by reason of the violation or practice.
(2) The director may issue and serve a board director, officer, or employee of a holding company with written notice of intent to remove the person from office or employment or to prohibit the person from participating in the conduct of the affairs of the holding company, its subsidiary bank, or any other depository institution, bank holding company, thrift holding company, or financial holding company doing business in this state whenever, in the opinion of the director:
(a) Reasonable cause exists to believe the person has committed a material violation of law, an unsafe and unsound practice, or a violation or practice involving a breach of fiduciary duty, personal dishonesty, recklessness, or incompetence; and
(b) The subsidiary bank has suffered or is likely to suffer substantial financial loss or other damage; or
(c) The interests of depositors of the subsidiary bank could be seriously prejudiced by reason of the violation or practice.
[ 2014 c 37 § 174; 2010 c 88 § 20; 1994 c 92 § 64; 1977 ex.s. c 178 § 5; 1955 c 33 § 30.12.040. Prior: 1933 c 42 § 1; 1917 c 80 § 10; RRS § 3217. Formerly RCW 30.12.040.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.0401 - Written notice of charges under RCW 30A.12.042.

RCW 30A.12.0401
Written notice of charges under RCW 30A.12.042.
The director may serve written notice of charges under RCW 30A.12.040 to suspend a person from further participation in any manner in the conduct of the affairs of a bank or holding company, if the director determines that such an action is necessary for the protection of the bank, or the interests of the depositors of the bank. Any suspension notice issued by the director is effective upon service, and unless the superior court of the county of its principal place of business issues a stay of the order, remains in effect and enforceable until:
(1) The director dismisses the charges contained in the notice served to the person; or
(2) The effective date of a final order for removal of the person under RCW 30A.12.040.
[ 2014 c 37 § 175; 2010 c 88 § 21. Formerly RCW 30.12.0401.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.042 - Removal of a director, officer, or employee or prohibiting participation in bank or holding company affairs—Notice contents—Hearing—Order of removal or prohibition.

RCW 30A.12.042
Removal of a director, officer, or employee or prohibiting participation in bank or holding company affairs—Notice contents—Hearing—Order of removal or prohibition.
(1) A notice of an intention to remove a director, officer, or employee from office or to prohibit his or her participation in the conduct of the affairs of a bank or holding company shall contain a statement of the facts which constitute grounds therefor and shall fix a time and place at which a hearing will be held. The hearing shall be set not earlier than ten days or later than thirty days after the date of service of the notice unless an earlier or later date is set by the director at the request of the director, officer, or employee for good cause shown or of the attorney general of the state.
(2) Unless the director, officer, or employee appears at the hearing personally or by a duly authorized representative, the person shall be deemed to have consented to the issuance of an order of removal or prohibition or both. In the event of such consent or if upon the record made at the hearing the director finds that any of the grounds specified in the notice have been established, the director may issue such orders of removal from office or prohibition from participation in the conduct of the affairs of the bank or holding company as the director may consider appropriate.
(3) Any order shall become effective at the expiration of ten days after service upon the bank or holding company and the director, officer, or employee concerned except that an order issued upon consent shall become effective at the time specified in the order.
(4) An order shall remain effective except to the extent it is stayed, modified, terminated, or set aside by the director or a reviewing court.
[ 2014 c 37 § 176; 2010 c 88 § 22; 1994 c 92 § 65; 1977 ex.s. c 178 § 6. Formerly RCW 30.12.042.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.044 - Removal of one or more directors of a bank or holding company—Effect upon quorum—Procedure.

RCW 30A.12.044
Removal of one or more directors of a bank or holding company—Effect upon quorum—Procedure.
If at any time because of the removal of one or more directors under this chapter there shall be on the board of directors of a bank or holding company less than a quorum of directors, all powers and functions vested in or exercisable by the board shall vest in and be exercisable by the director or directors remaining until such time as there is a quorum on the board of directors. If all of the directors of a bank or holding company are removed under this chapter, the director shall appoint persons to serve temporarily as directors until such time as their respective successors take office.
[ 2014 c 37 § 177; 2010 c 88 § 23; 1994 c 92 § 66; 1977 ex.s. c 178 § 7. Formerly RCW 30.12.044.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.045 - Removal of delinquent officer or employee or prohibiting participation in bank affairs—Administrative hearing—Judicial review.

RCW 30A.12.045
Removal of delinquent officer or employee or prohibiting participation in bank affairs—Administrative hearing—Judicial review.
See RCW 30A.04.470.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.046 - Removal of delinquent officer or employee or prohibiting participation in bank affairs—Jurisdiction of courts in enforcement or issuance of orders, injunctions or judicial review.

RCW 30A.12.046
Removal of delinquent officer or employee or prohibiting participation in bank affairs—Jurisdiction of courts in enforcement or issuance of orders, injunctions or judicial review.
See RCW 30A.04.475.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.047 - Removal of a director, officer, or employee of a bank or holding company—Violation of final order—Penalty.

RCW 30A.12.047
Removal of a director, officer, or employee of a bank or holding company—Violation of final order—Penalty.
Any present or former director, officer, or employee of a bank or holding company, or any other person against whom there is outstanding an effective final order served upon the person and who participates in any manner in the conduct of the affairs of the bank or holding company involved; or who directly or indirectly solicits or procures, transfers or attempts to transfer, or votes or attempts to vote any proxies, consents, or authorizations with respect to any voting rights in the bank or holding company; or who, without the prior approval of the director, votes for a director or serves or acts as a director, officer, employee, or agent of any bank or holding company shall upon conviction for a violation of any order, be guilty of a gross misdemeanor punishable as prescribed under chapter 9A.20 RCW, as now or hereafter amended.
[ 2014 c 37 § 178; 2010 c 88 § 24; 1994 c 92 § 67; 1977 ex.s. c 178 § 10. Formerly RCW 30.12.047.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
Severability—1977 ex.s. c 178: See note following RCW 30A.04.450.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.070 - Unsafe loans and discounts to directors or officers.

RCW 30A.12.070
Unsafe loans and discounts to directors or officers.
The director may at any time, if in his or her judgment excessive, unsafe, or improvident loans are being made or are likely to be made by a bank to any of its directors or officers or the directors or officers of its holding company, or to any corporation, copartnership or association of which such director is a stockholder, member, co-owner, or in which such director is financially interested, or like discounts of the notes or obligations of any such director, corporation, copartnership or association are being made or are likely to be made, require such bank to submit to him or her for approval all proposed loans to, or discounts of the note or obligation of, any such director, officer, corporation, copartnership or association, and thereafter such proposed loans and discounts shall be reported upon such forms and with such information concerning the desirability and safety of such loans or discounts and of the responsibility and financial condition of the person, corporation, copartnership or association to whom such loan is to be made or whose note or obligation is to be discounted and of the amount and value of any collateral that may be offered as security therefor, as the director may require, and no such loan or discount shall be made without his or her written approval thereon.
[ 2014 c 37 § 180; 2010 c 88 § 25; 1994 c 92 § 70; 1955 c 33 § 30.12.070. Prior: 1947 c 147 § 1, part; 1933 c 42 § 22, part; 1917 c 80 § 52, part; Rem. Supp. 1947 § 3259, part. Formerly RCW 30.12.070.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.090 - False entries, statements, etc.—Penalty.

RCW 30A.12.090
False entries, statements, etc.—Penalty.
Every person who shall knowingly subscribe to or make or cause to be made any false statement or false entry in the books of any bank or holding company, 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 bank or holding company, or shall make, state, or publish any false statement of the amount of the assets or liabilities of any bank or holding company, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2014 c 37 § 181; 2010 c 88 § 26; 2003 c 53 § 186; 1955 c 33 § 30.12.090. Prior: 1917 c 80 § 56; RRS § 3263. Formerly RCW 30.12.090.]
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.12 - Officers, Employees, and Stockholders. › 30A.12.100 - Destroying or secreting records—Penalty.

RCW 30A.12.100
Destroying or secreting records—Penalty.
Every officer, director, or employee or agent of any bank or holding company who, for the purpose of concealing any fact or suppressing any evidence against himself or herself, or against any other person, abstracts, removes, mutilates, destroys or secretes any paper, book or record of any bank or holding company, or of the director, or of anyone connected with his or her office, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2014 c 37 § 182; 2010 c 88 § 27; 2003 c 53 § 187; 1994 c 92 § 71; 1955 c 33 § 30.12.100. Prior: 1917 c 80 § 56; RRS § 3264. Formerly RCW 30.12.100.]
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.12 - Officers, Employees, and Stockholders. › 30A.12.110 - Commission, etc., for procuring loan—Penalty.

RCW 30A.12.110
Commission, etc., for procuring loan—Penalty.
No officer, director, agent, employee or stockholder of any bank shall, directly or indirectly, receive a bonus, commission, compensation, remuneration, gift, speculative interest or gratuity of any kind from any person, firm or corporation other than the bank or as allowed by RCW 30A.12.115 for granting, procuring or endeavoring to procure, for any person, firm or corporation, any loan by or out of the funds of such bank or the purchase or sale of any securities or property for or on account of such bank or for granting or procuring permission for any person, firm or corporation to overdraw any account with such bank. Any person violating this section shall be guilty of a gross misdemeanor.
[ 2014 c 37 § 183; 1986 c 279 § 35; 1955 c 33 § 30.12.110. Prior: 1919 c 209 § 20; RRS § 3290. Formerly RCW 30.12.110.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.120 - Loans to officers or employees from trust funds—Penalty.

RCW 30A.12.120
Loans to officers or employees from trust funds—Penalty.
No corporation doing a trust business shall make any loan to any officer, or employee from its trust funds, nor shall it permit any officer, or employee to become indebted to it in any way out of its trust funds. Every officer, director, or employee of any such corporation, who knowingly violates this section, or who aids or abets any other person in any such violation, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2003 c 53 § 188; 1955 c 33 § 30.12.120. Prior: 1917 c 80 § 53; RRS § 3260. Formerly RCW 30.12.120.]
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.12 - Officers, Employees, and Stockholders. › 30A.12.130 - Trust company as legal representative—Oath by officer.

RCW 30A.12.130
Trust company as legal representative—Oath by officer.
When any trust company shall be appointed executor, administrator, or trustee of any estate or guardian of the estate of any infant or other incompetent, it shall be lawful for any duly authorized officer of such corporation to take and subscribe for such corporation any and all oaths or affirmations required of such an appointee.
[ 1955 c 33 § 30.12.130. Prior: 1917 c 80 § 50; RRS § 3257. Formerly RCW 30.12.130.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.180 - Levy of assessments.

RCW 30A.12.180
Levy of assessments.
Whenever the director shall notify the board of directors of a bank to levy an assessment upon the stock of such corporation and the holders of two-thirds of the stock shall consent thereto, such board shall, within ten days from the issuance of such notice, adopt a resolution for the levy of such assessment, and shall immediately upon the adoption of such resolution serve notice upon each stockholder, personally or by mail, at his or her last known address, to pay such assessment; and that if the same be not paid within twenty days from the date of the issuance of such notice, his or her stock will be subject to sale and all amounts previously paid thereon shall be subject to forfeiture. If any stockholder fail within said twenty days to pay the assessment as provided in this section, it shall be the duty of the board of directors to cause a sufficient amount of the capital stock of such stockholder to be sold to make good the deficiency. The sale shall be held at such time and place as shall be designated by the board of directors and shall be either public or private, as the board shall deem best. At any time after the expiration of sixty days from the expiration of said twenty-day period the director may require any stock upon which the assessment remains unpaid to be canceled and deducted from the capital of the corporation. If such cancellation shall reduce the capital of the corporation below the minimum required by this title or its articles of incorporation the capital shall, within thirty days thereafter be increased to the required amount by original subscription, in default of which the director may take possession of such corporation in the manner provided by law in case of insolvency.
[ 2014 c 37 § 184; 1994 c 92 § 72; 1955 c 33 § 30.12.180. Prior: 1923 c 115 § 8; 1917 c 80 § 34; RRS § 3241. Formerly RCW 30.12.180.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.190 - General penalty—Effect of conviction.

RCW 30A.12.190
General penalty—Effect of conviction.
(1) Every person who shall knowingly violate, or knowingly aid or abet the violation of any provision of RCW 30A.04.010, 30A.04.030, 30A.04.050, 30A.04.060, 30A.04.070, 30A.04.075, 30A.04.111, 30A.04.120, 30A.04.130, 30A.04.180, 30A.04.210, 30A.04.220, 30A.04.280, 30A.04.300, 30A.08.010, 30A.08.020, 30A.08.030, 30A.08.040, 30A.08.050, 30A.08.060, 30A.08.080, 30A.08.090, 30A.08.140, 30A.08.150, * 30A.08.160, 30A.08.180, 30A.08.190, 30A.12.010, 30A.12.020, 30A.12.030, 30A.12.060, 30A.12.070, 30A.12.130, 30A.12.180, 30A.12.190, 30A.16.010, 30A.20.060, 30A.44.010, 30A.44.020, 30A.44.030, 30A.44.040, 30A.44.050, 30A.44.060, 30A.44.070, 30A.44.080, 30A.44.090, 30A.44.100, 30A.44.130, 30A.44.140, 30A.44.150, 30A.44.160, 30A.44.170, 30A.44.240, 30A.44.250, 43.320.060, 43.320.070, 43.320.080, and 43.320.100, and any director, officer, or employee of a bank or holding company who fails to perform any act which it is therein made his or her duty to perform, shall be guilty of a misdemeanor.
(2) A director, officer, or employee of a bank or holding company who has been convicted for the violation of the banking laws of this or any other state or of the United States shall not be permitted to engage in or become or remain a board director, officer, or employee of any bank, trust company, or holding company organized and existing under the laws of this state, or of any other depository institution, trust company, bank holding company, thrift holding company, or financial holding company doing business in this state.
[ 2014 c 37 § 185; 2010 c 88 § 28; 1989 c 220 § 2; 1983 c 3 § 47; 1955 c 33 § 30.12.190. Prior: 1919 c 209 § 18; 1917 c 80 § 80; RRS § 3287. Formerly RCW 30.12.190.]
NOTES:
*Reviser's note: RCW 30A.08.160 was repealed by 2019 c 389 § 103.
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.205 - Stock purchase options—Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans.

RCW 30A.12.205
Stock purchase options—Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans.
Subject to any restrictions in its articles of incorporation and in accordance with and subject to the provisions of RCW 30A.08.088, the board of directors of a bank may grant options entitling the holders thereof to purchase from the corporation shares of any class of its stock. The instrument evidencing the option shall state the terms upon which, the time within which, and the price at which such shares may be purchased from the corporation upon the exercise of such option. If any such options are granted by contract, or are to be granted pursuant to a plan, to officers or employees of the bank, then the contract or the plan shall require the approval, within twelve months of its approval by the board of directors, of the holders of a majority of its voting capital stock. Subsequent amendments to any such contract or plan which do not change the price or duration of any option, the maximum number of shares which may be subject to options, or the class of employees eligible for options may be made by the board of directors without further shareholder approval.
Subject to any restrictions in its articles of incorporation, the board of directors of a bank shall have the authority to enter into any plans or contracts providing for compensation for its officers and employees, including, but not being limited to, incentive bonus contracts, stock purchase or bonus plans and profit sharing plans.
[ 2014 c 37 § 186; 1986 c 279 § 37. Formerly RCW 30.12.205.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.220 - Preemptive rights of shareholders to acquire unissued shares—Articles of incorporation may limit or permit—Later acquisition.

RCW 30A.12.220
Preemptive rights of shareholders to acquire unissued shares—Articles of incorporation may limit or permit—Later acquisition.
The articles of incorporation of any bank organized under this title may limit or permit the preemptive rights of a shareholder to acquire unissued shares of the corporation and may thereafter by amendment limit, deny, or grant to shareholders of any class of stock the preemptive right to acquire additional shares of the corporation whether then or thereafter authorized.
[ 2014 c 37 § 187; 1979 c 106 § 8. Formerly RCW 30.12.220.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.230 - Immunity of shareholders of bank insured by the federal deposit insurance corporation.

RCW 30A.12.230
Immunity of shareholders of bank insured by the federal deposit insurance corporation.
The shareholders of a banking corporation organized under the laws of this state and the deposits of which are insured by the federal deposit insurance corporation shall not be liable for any debts or obligations of the bank.
[ 1986 c 279 § 50. Formerly RCW 30.12.230.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.12 - Officers, Employees, and Stockholders. › 30A.12.240 - Violations—Director liability.

RCW 30A.12.240
Violations—Director liability.
If the directors of any bank or holding company shall knowingly violate, or knowingly permit any of the officers, agents, or employees of the bank to violate any of the provisions of this title or any lawful regulation or directive of the director, and if the directors are aware that such facts and circumstances constitute such violations, then each director who participated in or assented to the violation is personally and individually liable for all damages which the state or any insurer of the deposits of the bank sustains due to the violation.
[ 2014 c 37 § 188; 2010 c 88 § 29; 1994 c 92 § 73; 1989 c 180 § 7. Formerly RCW 30.12.240.]
NOTES:
Effective date—2010 c 88: See RCW 32.50.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.16 - Checks. › 30A.16.010 - Certification—Effect—Penalty.

RCW 30A.16.010
Certification—Effect—Penalty.
No director, officer, agent or employee of any bank shall certify a check unless the amount thereof actually stands to the credit of the drawer on the books of such corporation and when certified must be charged to the account of the drawer. Every violation of this provision shall be a gross misdemeanor. Any such check so certified by a duly authorized person shall be a good and valid obligation of the bank in the hands of an innocent holder.
[ 2014 c 37 § 189; 1955 c 33 § 30.16.010. Prior: 1917 c 80 § 44; RRS § 3251. Formerly RCW 30.16.010.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.20 - Deposits. › 30A.20.005 - Deposits by individuals governed by chapter 30A.22 RCW.

RCW 30A.20.005
Deposits by individuals governed by chapter 30A.22 RCW.
Deposits made by individuals in a national bank, state bank[,] or other banking institution subject to the supervision of the director are governed by chapter 30A.22 RCW.
[ 2014 c 37 § 190; 1994 c 92 § 74; 1981 c 192 § 23. Formerly RCW 30.20.005.]
NOTES:
Effective date—1981 c 192: See RCW 30A.22.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.20 - Deposits. › 30A.20.025 - Receipt for deposits—Contents.

RCW 30A.20.025
Receipt for deposits—Contents.
Each person making a deposit in a bank shall be given a receipt that shall show or in conjunction with the deposit slip can be used to trace the name of the bank, the name of the account, the account number, the date, and the amount deposited. If specifically requested by the depositor when making the deposit, the receipt must expressly show the name of the bank, the date, the amount deposited, plus either the name of the account or the account number or both the name of the account and the account number.
[ 2014 c 37 § 191; 1985 c 305 § 2. Formerly RCW 30.20.025, 30.04.085.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.20 - Deposits. › 30A.20.060 - Deposits and accounts—Regulations—Passbooks or records—Deposit contract.

RCW 30A.20.060
Deposits and accounts—Regulations—Passbooks or records—Deposit contract.
A bank shall repay all deposits to the depositor or his or her lawful representative when required at such time or times and with such interest as the regulations of the corporation shall prescribe. These regulations shall be prescribed by the directors of the bank and may contain provisions with respect to the terms and conditions upon which any account or deposit will be maintained by the bank. These regulations and any amendments shall be available to depositors on request, and shall be posted in a conspicuous place in the principal office and each branch in this state or, if the regulations and any amendments 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 these rules and regulations and all amendments shall be binding upon all depositors. At the option of the bank, a passbook shall be issued to each savings account depositor, or a record maintained in lieu of a passbook. A deposit contract may be adopted by the bank in lieu of or in addition to account rules and regulations and shall be enforceable and amendable in the same manner as account rules and regulations or as provided in the deposit contract. A copy of the contract shall be provided to the depositor.
[ 2014 c 37 § 192; 1996 c 2 § 8; 1986 c 279 § 38; 1961 c 280 § 3; 1959 c 106 § 5; 1955 c 33 § 30.20.060. Prior: 1945 c 69 § 1; 1935 c 93 § 1; 1917 c 80 § 38; Rem. Supp. 1945 § 3244a. Formerly RCW 30.20.060.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.20 - Deposits. › 30A.20.090 - Adverse claim to a deposit to be accompanied by court order or bond—Exceptions.

RCW 30A.20.090
Adverse claim to a deposit to be accompanied by court order or bond—Exceptions.
Notice to any national bank, state bank, savings bank, or bank under the supervision of the director, doing business in this state of an adverse claim to a deposit standing on its books to the credit of any person may be disregarded without liability by said bank unless said adverse claimant shall also either procure a restraining order, injunction or other appropriate process against said bank from a court of competent jurisdiction in a cause therein instituted by him or her wherein the person to whose credit the deposit stands is made a party and served with summons or shall execute to said bank, in form and with sureties acceptable to it, a bond, in an amount which is double either the amount of said deposit or said adverse claim, whichever is the lesser, indemnifying said bank from any and all liability, loss, damage, costs and expenses, for and on account of the payment of such adverse claim or the dishonor of the check or other order of the person to whose credit the deposit stands on the books of said bank: PROVIDED, That where the person to whose credit the deposit stands is a fiduciary for such adverse claimant, and the facts constituting such relationship, and also the facts showing reasonable cause of belief on the part of said claimant that the said fiduciary is about to misappropriate said deposit, are made to appear by the affidavit of such claimant, the bank shall without liability refuse to deliver such property for a period of not more than five business days from the date that the bank received the adverse claimant's affidavit, without liability for the sufficiency or truth of the facts alleged in the affidavit, after which time the claim shall be treated as any other claim under this section.
This section shall not apply to accounts subject to chapter 30A.22 RCW.
[ 2014 c 37 § 193; 1994 c 92 § 75; 1981 c 192 § 25; 1979 c 143 § 1; 1961 c 280 § 4. Formerly RCW 30.20.090.]
NOTES:
Effective date—1981 c 192: See RCW 30A.22.900.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.010 - Short title.

RCW 30A.22.010
Short title.
This chapter shall be known and may be cited as the financial institution individual account deposit act.
[ 1981 c 192 § 1. Formerly RCW 30.22.010.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.020 - Purposes.

RCW 30A.22.020
Purposes.
The purposes of this chapter are:
(1) To provide a consistent law applicable to all financial institutions authorized to accept deposits from individuals with respect to payments by the institutions to individuals claiming rights to the deposited funds; and
(2) To qualify and simplify the law concerning the respective ownership interests of individuals to funds held on deposit by financial institutions, both as to the relationship between the individual depositors and beneficiaries of an account, and to the financial institution-depositor-beneficiary relationships; and
(3) To simplify and make consistent the law pertaining to payments by financial institutions of deposited funds both before and after the death of a depositor or depositors, including provisions for the validity and effect of certain nontestamentary transfers of deposits upon the death of one or more depositors.
[ 1981 c 192 § 2. Formerly RCW 30.22.020.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.030 - Construction.

RCW 30A.22.030
Construction.
When construing sections and provisions of this chapter, the sections and provisions shall:
(1) Be liberally construed and applied to promote the purposes of the chapter; and
(2) Be considered part of a general act which is intended as unified coverage of the subject matter, and no part of the chapter shall be deemed impliedly repealed by subsequent legislation if such construction can be reasonably avoided; and
(3) Not be held invalid because of the invalidity of other sections or provisions of the chapter as long as the section or provision in question can be given effect without regard to the invalid section or provision, and to this end the sections and provisions of this chapter are declared to be severable; and
(4) Not be construed by reference to section or subsection headings as used in the chapter since these do not constitute any part of the law; and
(5) Not be deemed to alter the community or separate property nature of any funds held on deposit by a financial institution or any individual's community or separate property rights thereto, and a depositor's community and/or separate property rights to funds on deposit shall not be affected by the form of the account; and
(6) Not be construed as authorizing or extending the authority of any financial institution to accept deposits or to permit a financial institution to accept deposits from such persons or entities or upon such terms as would contravene any other applicable federal or state law.
[ 1981 c 192 § 3. Formerly RCW 30.22.030.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.041 - Definitions.

RCW 30A.22.041
Definitions.
The definitions in this section apply throughout this section and RCW 30A.22.240 and 30A.22.245.
(1) "Customer" means any person, partnership, limited partnership, corporation, trust, or other legal entity that is transacting or has transacted business with a financial institution, that is using or has used the services of an institution, or for which a financial institution has acted or is acting as a fiduciary.
(2) "Financial institution" means state and national banks and trust companies, state and federal savings banks, state and federal savings and loan associations, and state and federal credit unions.
(3) "Law enforcement officer" means an employee of a public law enforcement agency organized under the authority of a county, city, or town and designated to obtain deposit account information by the chief law enforcement officer of that agency.
[ 2014 c 37 § 195; 1995 c 186 § 1. Formerly RCW 30.22.041.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.050 - Types of accounts which financial institution may establish.

RCW 30A.22.050
Types of accounts which financial institution may establish.
The types of accounts in which funds may be deposited with a financial institution include, but are not limited to, the following:
(1) A single account;
(2) A joint account without right of survivorship;
(3) A joint account with right of survivorship;
(4) An agency account;
(5) A trust or P.O.D. account; and
(6) Any compatible combination of the foregoing.
In each case, the type of account shall be determined by the terms of the contract of deposit between the depositor and the financial institution. The financial institution shall describe to a potential depositor the various types of accounts available.
[ 1981 c 192 § 5. Formerly RCW 30.22.050.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.060 - Requirements of contract of deposit.

RCW 30A.22.060
Requirements of contract of deposit.
The contract of deposit shall be in writing and signed by all individuals who have a current right to payment of funds from an account. The designation of an agent, or trust or P.O.D. account beneficiary by a depositor of a joint account without right of survivorship, or the designation of an agent by a depositor of a joint account with right of survivorship or by a depositor of a trust or P.O.D. account does not require the signature of a codepositor. A financial institution may insert such additional terms and conditions in a contract of deposit as it deems appropriate.
[ 1981 c 192 § 6. Formerly RCW 30.22.060.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.070 - Accounts of minors and incompetents.

RCW 30A.22.070
Accounts of minors and incompetents.
A minor or incompetent may enter into a valid and enforceable contract of deposit with the financial institution and any account in the name of a minor or incompetent shall, in the absence of clear and convincing evidence of a different intention at the time it is created, be held for the exclusive right and benefit of the minor or incompetent free from the control of all other persons.
[ 1981 c 192 § 7. Formerly RCW 30.22.070.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.080 - Accounts of married persons.

RCW 30A.22.080
Accounts of married persons.
A financial institution may enter into a contract of deposit without regard to whether the depositor is married and without regard as to whether the funds on deposit are the community or separate property of the depositor.
[ 1981 c 192 § 8. Formerly RCW 30.22.080.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.090 - Ownership of funds during lifetime of depositor.

RCW 30A.22.090
Ownership of funds during lifetime of depositor.
Subject to community property rights, during the lifetime of a depositor, or the joint lifetimes of depositors:
(1) Funds on deposit in a single account belong to the depositor.
(2) Funds on deposit in a joint account without right of survivorship and in a joint account with right of survivorship belong to the depositors in proportion to the net funds owned by each depositor on deposit in the account, unless the contract of deposit provides otherwise or there is clear and convincing evidence of a contrary intent at the time the account was created.
(3) Funds on deposit in a trust or P.O.D. account belong to the depositor and not to the trust or P.O.D. account beneficiary or beneficiaries; if two or more depositors are named on the trust or P.O.D. account, their rights of ownership to the funds on deposit in the account are governed by subsection (2) of this section.
(4) Ownership of funds on deposit in an agency account shall be determined in accordance with subsections (1), (2), and (3) of this section depending upon whether the principal is a depositor on a single account, joint account, joint account with right of survivorship, or trust or P.O.D. account.
[ 1981 c 192 § 9. Formerly RCW 30.22.090.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.110 - Controversies between owners.

RCW 30A.22.110
Controversies between owners.
*RCW 30.22.090 and 30.22.100 are intended to establish ownership of funds on deposit in the accounts stated, as between depositors and/or trust or P.O.D. account beneficiaries, and the provisions thereof are relevant only as to controversies between such persons and their creditors, and other successors, and have no bearing on the power of any person to receive payment of funds maintained in the accounts or the right of a financial institution to make payments to any person as provided by the terms of the contract of deposit.
[ 1981 c 192 § 11. Formerly RCW 30.22.110.]
NOTES:
*Reviser's note: RCW 30.22.090 and 30.22.100 were recodified as RCW 30A.22.090 and 30A.22.100, respectively, pursuant to 2014 c 37 § 4, effective January 5, 2015.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.120 - Right to rely on form of account—Discharge of financial institutions.

RCW 30A.22.120
Right to rely on form of account—Discharge of financial institutions.
In making payments of funds deposited in an account, a financial institution may rely conclusively and entirely upon the form of the account and the terms of the contract of deposit at the time the payments are made. A financial institution is not required to inquire as to either the source or the ownership of any funds received for deposit to an account, or to the proposed application of any payments made from an account. Unless a financial institution has actual knowledge of the existence of dispute between depositors, beneficiaries, or other persons claiming an interest in funds deposited in an account, all payments made by a financial institution from an account at the request of any depositor to the account and/or the agent of any depositor to the account in accordance with this section and RCW 30A.22.140, 30A.22.150, 30A.22.160, 30A.22.170, 30A.22.180, 30A.22.190, 30A.22.200, and 30A.22.220 shall constitute a complete release and discharge of the financial institution from all claims for the amounts so paid regardless of whether or not the payment is consistent with the actual ownership of the funds deposited in an account by a depositor and/or the actual ownership of the funds as between depositors and/or the beneficiaries of P.O.D. and trust accounts, and/or their heirs, successors, personal representatives, and assigns.
[ 2014 c 37 § 196; 1981 c 192 § 12. Formerly RCW 30.22.120.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.130 - Rights as between individuals preserved.

RCW 30A.22.130
Rights as between individuals preserved.
The protection accorded to financial institutions under RCW 30A.22.120, 30A.22.140, 30A.22.150, 30A.22.160, 30A.22.170, 30A.22.180, 30A.22.190, 30A.22.200, 30A.22.210, and 30A.22.220 shall have no bearing on the actual rights of ownership to deposited funds by a depositor, and/or between depositors, and/or by and between beneficiaries of trust and P.O.D. accounts, and their heirs, successors, personal representatives, and assigns.
[ 2014 c 37 § 197; 1981 c 192 § 13. Formerly RCW 30.22.130.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.140 - Payment of funds to a depositor.

RCW 30A.22.140
Payment of funds to a depositor.
Payments of funds on deposit in a single account may be made by a financial institution to or for the depositor regardless of whether the depositor is, in fact, the actual owner of the funds. Payments of funds on deposit in an account having two or more depositors may be made by a financial institution to or for any one or more of the depositors named on the account without regard to the actual ownership of the funds by or between the depositors, and without regard to whether any other depositor or depositors so named are deceased or incompetent at the time the payments are made.
[ 1981 c 192 § 14. Formerly RCW 30.22.140.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.150 - Payment to minors and incompetents.

RCW 30A.22.150
Payment to minors and incompetents.
Financial institutions may make payments of funds on deposit in an account established by a depositor who is a minor or incompetent without regard to whether it has actual knowledge of the minority or incompetency of the depositor unless the branch of the financial institution at which the account is maintained has received written notice to withhold payment to the minor or incompetent by the guardian of his or her estate and had a reasonable opportunity to act upon the notice.
[ 2011 c 336 § 748; 1981 c 192 § 15. Formerly RCW 30.22.150.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.160 - Payment to trust and P.O.D. account beneficiaries.

RCW 30A.22.160
Payment to trust and P.O.D. account beneficiaries.
Financial institutions may pay any funds remaining on deposit in an account to a trust or P.O.D. account beneficiary or beneficiaries when the financial institution has received proofs of death of all depositors to the account who pursuant to the terms of the contract of deposit were required to predecease the beneficiary. If there is more than one trust or P.O.D. account beneficiary, financial institutions shall not, unless the contract of deposit otherwise provides, pay to any one such beneficiary more than that amount which is obtained by dividing the total of the funds on deposit in the account by the number of trust or P.O.D. account beneficiaries.
[ 1981 c 192 § 16. Formerly RCW 30.22.160.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.170 - Payment to agents of depositors.

RCW 30A.22.170
Payment to agents of depositors.
Any funds on deposit in an account may be paid by a financial institution to or upon the order of any agent of any depositor. The contract of deposit or other document creating such agency may provide, in accordance with chapter 11.125 RCW, that any such agent's powers to receive payments and make withdrawals from an account continues in spite of, or arises by virtue of, the incompetency of a depositor, in which event the agent's powers to make payments and withdrawals from an account on behalf of a depositor is not affected by the incompetency of a depositor. Except as provided in this section, the authority of an agent to receive payments or make withdrawals from an account terminates with the death or incompetency of the agent's principal: PROVIDED, That a financial institution is not liable for any payment or withdrawal made to or by an agent for a deceased or incompetent depositor unless the financial institution making the payment or permitting the withdrawal had actual knowledge of the incompetency or death at the time payment was made.
[ 2016 c 209 § 405; 1981 c 192 § 17. Formerly RCW 30.22.170.]
NOTES:
Short title—Application—Uniformity—Federal law application—Federal electronic signatures in global and national commerce act—Application—Dates—Effective date—2016 c 209: See RCW 11.125.010 and 11.125.900 through 11.125.903.
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.22 - Financial Institution Individual Account Deposit Act. › 30A.22.180 - Payment to personal representatives.

RCW 30A.22.180
Payment to personal representatives.
Financial institutions may pay any funds remaining on deposit in an account which belongs to a deceased depositor to the personal representative of the depositor's estate under any of the following circumstances:
(1) When the decedent was the depositor on a single account; or
(2) When the decedent was a depositor on a joint account without right of survivorship or the only surviving depositor on a joint account with right of survivorship, and has not designated a trust or P.O.D. account beneficiary of the decedent's interest, and the financial institution has received the proofs of death necessary to establish the deaths of the other depositors named on the account; or
(3) When the decedent was a beneficiary of a P.O.D. or trust account and the financial institution has received proofs of death of the beneficiary and all depositors to the account who, pursuant to the terms of the contract of deposit, were required to predecease the beneficiary; or
(4) When consent to the payment has been given in writing by all depositors and beneficiaries of the account; or
(5) When so ordered or directed by a superior court of the state or other court having jurisdiction over the matter.
[ 1981 c 192 § 18. Formerly RCW 30.22.180.]