reglab/statecodes huggingface dataset:
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-030 - Hourly charge for examinations

Current through Register Vol. 24-14, July 15, 2024
The hourly charge for hours spent by personnel of the division
						of banks in conducting examinations shall be assessed as follows:
(1) For division personnel classified as
					financial examiner, $40.00 per hour;
(2) For division personnel classified as
					financial examiner senior, $45.00 per hour;
(3) For division personnel classified as case
					manager or financial examiner supervisor or above, $50.00 per hour;
In addition to the hourly examination fee, foreign associations
						doing business in the state of Washington will defray the costs of travel and
						per diem paid to division personnel in examinations performed outside the state
						of Washington.
The director may charge the actual cost of examinations
						performed under personal service contracts by third parties. The director shall
						submit a statement for the foregoing charges following the completion of any
						applicable examination, and the charges shall be paid not later than thirty
						days after submission of such statement.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-586-030, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.28.020. 91-06-063, § 419-14-030,
							filed 3/1/91, effective 4/1/91; 85-07-009 (Order 85-3), § 419-14-030,
							filed 3/8/85. Statutory Authority:
							RCW
							   33.08.110. 84-12-043 (Order 84-4), §
							419-14-030, filed 5/31/84. Statutory Authority: RCW 30.28.020. 82-13-015 (Order
							82-4), § 419-14-030, filed
							6/7/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-040 - Semiannual asset charge

Current through Register Vol. 24-14, July 15, 2024
The semiannual asset charge will be assessed at a rate of three
						cents per thousand dollars of assets. Asset fees will be computed on assets as
						of June 30 and December 31 of each calendar year, and payable no later than
						July 15 and January 15 next following the respective assessment
						dates.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-586-040, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.28.020. 91-06-063, § 419-14-040,
							filed 3/1/91, effective 4/1/91; 85-07-009 (Order 85-3), § 419-14-040,
							filed 3/8/85. Statutory Authority: RCW 30.28.020. 82-13-015 (Order 82-4),
							§ 419-14-040, filed 6/7/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-050 - Investigation fee for new charter application

Current through Register Vol. 24-14, July 15, 2024
The investigation fee required by
						RCW
						   33.08.060 for submission in connection with
						applications to charter a new savings and loan association shall be two
						thousand five hundred dollars. In the event the actual costs of the
						investigation conducted with respect to a particular application are less than
						the amount of the fee, such difference between the fee and the actual costs
						submitted shall be refunded, provided that in no event shall more than one
						thousand five hundred dollars be refunded. For the purposes of this section,
						actual costs shall include travel and per diem expenses paid to division
						personnel in connection with the investigation.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-586-050, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.08.110. 82-13-015 (Order 82-4), §
							419-14-050, filed 6/7/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-060 - Branch application fee - Domestic associations

Current through Register Vol. 24-14, July 15, 2024
The fee required by
						RCW
						   33.08.110 to be submitted in connection with
						an application to establish a branch office of an association shall be five
						hundred dollars. In the event the actual costs of the investigation with
						respect to a particular application are less than the amount of the fee, such
						difference between the fee and the actual cost submitted shall be refunded,
						provided that in no event shall more than three hundred fifty dollars be
						refunded. For the purposes of this section, actual costs shall include travel
						and per diem expenses paid to division personnel in connection with the
						investigation.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-586-060, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.08.110. 84-12-043 (Order 84-4), §
							419-14-060, filed 5/31/84; 82-13-015 (Order 82-4), § 419-14-060, filed
							6/7/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-070 - Loans to directors, officers, or employees - Maximum amount

Current through Register Vol. 24-14, July 15, 2024
The total value of loans made or obligations acquired under the
						authority of
						RCW
						   33.12.060(2)(f) for any
						director, officer, or employee of an association shall not exceed twenty-five
						thousand dollars, unless all applicable regulations of the Federal Deposit
						Insurance Corporation have been complied with, in which case loans not in
						excess of one hundred thousand dollars total may be made. Loans in amounts
						larger than one hundred thousand dollars may be made only with the prior
						written approval of the director has been obtained in accordance with the
						provisions of this section.
Requests to the director for permission to exceed the maximum
						loan limit shall be made at least ten days in advance of the date upon which it
						is anticipated that funds will be disbursed, if the loan is approved. Such
						requests must be accompanied by a certified copy of the authorizing resolution,
						which shall set forth with specificity the reasons that the board of directors
						believes that exceeding the loan limitation established in this section is in
						the best interest of the association in each instance. The authorizing
						resolution shall also set forth the directors' evaluation of the quality of the
						security for the loan, and the ability of the debtor to repay the loan in
						accordance with its terms.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-586-070, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.060(2)(f). 84-09-058
							(Order 84-1), § 419-14-070, filed 4/18/84; 82-13-015 (Order 82-4), §
							419-14-070, filed 6/7/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-075 - Branch application fee - Foreign associations

Current through Register Vol. 24-14, July 15, 2024
The fee required by
						RCW
						   33.08.110 to be submitted in connection with
						an application to establish a branch office of a foreign association in this
						state shall be two thousand five hundred dollars, nonrefundable for the first
						branch and five hundred dollars for each additional branch. In the event the
						actual costs of the investigation with respect to a particular application
						exceed the amount of the fee, such difference between the fee and the actual
						costs shall be paid by the applicant. For the purposes of this section, actual
						costs shall include travel and per diem expenses paid to division personnel in
						connection with the investigation.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-586-075, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.08.110. 85-07-010 (Order 85-4), §
							419-14-075, filed 3/8/85; 84-12-043 (Order 84-4), § 419-14-075, filed
							5/31/84.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-080 - Annual license fees

Current through Register Vol. 24-14, July 15, 2024
Every savings and loan association organized under the laws of
						this state shall pay a license fee before the 31st of July each year. The
						license fee for each domestic association shall be fifty dollars for the office
						designated as the home office or executive office and an additional fifty
						dollar fee for each branch.
Every foreign association doing business in the state of
						Washington shall pay a license fee before the 31st of July each year. The
						license fee shall be in the amount of fifty dollars for each branch in business
						within the state of Washington as of the close of business June 30th
						immediately preceding.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-586-080, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.04.020(2). 82-19-020
							(Order 82-6), § 419-14-080, filed
							9/8/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-085 - Loans to one borrower

Current through Register Vol. 24-14, July 15, 2024
RCW    33.24.010 provides that an
						association may not invest more than two and one-half percent of its assets in
						any loan or obligation to any one person, except with the written approval of
						the supervisor. The director hereby gives written approval for any state
						chartered association to make a loan to any one borrower in an amount which,
						taken together with all other outstanding loans and obligation to the same
						borrower, does not exceed either ten percent of the institution's withdrawable
						accounts, or the association's net worth, whichever is less.
"One borrower" is defined as (a) any person or entity that is,
						or that upon the making of a loan will become, obligor on a loan; (b) nominees
						of such obligor; (c) all persons trusts, partnerships, syndicates, and
						corporations of which such obligor is a nominee or a beneficiary, partner,
						member, or record or beneficial stockholder owning ten percent or more of the
						capital stock, and (d) if such obligor is a trust partnership, syndicate, or
						corporation, all trusts, partnerships, syndicates, and corporations of which
						any beneficiary, partner, member, or record or beneficial stockholder owning
						ten percent of the capital stock, is also a beneficiary, partner, member, or
						record or beneficial stockholder owning ten percent or more of the capital
						stock of such obligor; and the term "total balances of all outstanding loans"
						means the original amounts loaned by an insured institution plus any additional
						advances and interest due unpaid, less repayments and participating interests
						sold and exclusive of any loan on the security of such institution's savings
						accounts or real estate, the title to which has been conveyed to a bona fide
						purchaser of such real estate.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-586-085, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.24.010. 84-09-058 (Order 84-1), §
							419-14-085, filed 4/18/84.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-090 - Hourly charge for legal assistance

Current through Register Vol. 24-14, July 15, 2024
The hourly charge for consultation involving an assistant
						attorney general shall be assessed at a rate of $60.00 per hour. Legal
						assistance shall include, but not be limited to, legal research and advice
						pertaining to granting new charters, acquisition of savings and loan
						associations, conversions, stock offerings, board meetings requiring legal
						assistance, preparation and enforcement of removal actions, involuntary
						liquidations, declarations of insolvency, cease and desist orders, and other
						agreements or actions requiring legal advice; and to administrative hearings
						and preparation of memorandum opinions which relate to a specific savings and
						loan association.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-586-090, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.28.020. 91-06-063, § 419-14-090,
							filed 3/1/91, effective 4/1/91; 83-20-028 (Order 83-5), § 419-14-090,
							filed 9/26/83.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-100 - Supervisory review of examination

Current through Register Vol. 24-14, July 15, 2024
Upon completion of each examination the examiner's report shall
						be reviewed and an examination letter prepared by administrative personnel. The
						hourly charge for the review and preparation of the examination letter shall be
						assessed at the rate of $50.00 per hour.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-586-100, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.28.020. 91-06-063, § 419-14-100,
							filed 3/1/91, effective 4/1/91; 85-07-009 (Order 85-3), § 419-14-100,
							filed 3/8/85; 83-20-028 (Order 83-5), § 419-14-100, filed
							9/26/83.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-110 - Special examinations

Current through Register Vol. 24-14, July 15, 2024
Special examinations shall be assessed at the rate of $50.00
						per hour. Special examinations shall include, but not be limited to electronic
						data processing examinations, special investigations, special examinations
						involving the division's staff supervisory personnel, and other special
						examinations and reviews the supervisor deems necessary.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-586-110, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.28.020. 91-06-063, § 419-14-110,
							filed 3/1/91, effective 4/1/91; 85-07-009 (Order 85-3), § 419-14-110,
							filed 3/8/85; 83-20-028 (Order 83-5), § 419-14-110, filed
							9/26/83.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-120 - Acquisition application fee

Current through Register Vol. 24-14, July 15, 2024
RCW    33.28.020 requires the
						director to collect from each association a fee to cover the actual cost of
						supervision.
To maintain fairness to all associations the acquiring
						party(ies) will defray the costs involving the director and his staff as
						follows:
A minimum nonrefundable fee of $5,000 payable with the
						acquisition application described in
						RCW
						   33.24.360. In addition direct costs involving
						travel and lodging of the director or his staff and legal expense billed
						directly to the division will be paid by the acquirers.
Savings and loan associations merging under authority of RCW
						33.04.010 are not considered within the scope of
						RCW
						   33.24.360 and are therefore not included with
						respect to this WAC.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-586-120, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.24.360. 84-12-042 (Order 84-5), §
							419-14-120, filed 5/31/84.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-586 - Examination and supervision fees for savings and loan associations › Section 208-586-140 - Charges and fees effective July 1, 2001

Current through Register Vol. 24-14, July 15, 2024
The division intends to increase the rate of its charges and
						fees each year for several bienniums. The division intends to initiate a rule
						making for this purpose each biennium. This rule provides for an automatic
						annual increase in the rate of charges and fees each fiscal year during the
						2001-03 biennium.
(1) Effective July
					1, 2001, the rate of charges and fees under chapters 208-586 and 208-594 WAC
					shall be as follows:
(a) WAC
					208-586-030(1) -
					The fee shall be $45.51 per hour.
(b) WAC
					208-586-030(2) -
					The fee shall be $51.19 per hour.
(c) WAC
					208-586-030(3) -
					The fee shall be $56.89 per hour.
(d) WAC
					208-586-040 - The asset charge
					shall be 0.0348046 per thousand dollars of assets.
(e) WAC
					208-586-075 - The fee shall be
					$2,500.00 for the first branch and $500.00 for each additional
					branch.
(f) WAC
					208-586-080 - The fee shall be
					$50.00 for the home office and each branch.
(g) WAC
					208-586-090 - The fee shall be
					$68.27 per hour.
(h) WAC
					208-586-100 - The fee shall be
					$56.89 per hour.
(i) WAC
					208-586-110 - The fee shall be
					$56.89 per hour.
(j) WAC
					208-586-120 - The fee shall be
					$5,000.00.
(k) WAC
					208-594-070 - The fee shall be
					$1,000.00.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-590 - Merger or acquisition of troubled associations › Section 208-590-010 - Purpose

Current through Register Vol. 24-14, July 15, 2024
The purpose of this chapter is to set forth the guidelines
						which allow for the interstate merger or acquisition of troubled savings and
						loan associations.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-590-010, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.014. 82-08-023 (Order 82-1), §
							419-52-010, filed 3/30/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-590 - Merger or acquisition of troubled associations › Section 208-590-020 - Merger or acquisition of a troubled foreign association by a domestic association

Current through Register Vol. 24-14, July 15, 2024
Pursuant to
						RCW
						   33.12.012 and
						33.12.014, a domestic savings and
						loan association may acquire or merge with a foreign association under the
						following circumstances:
(1) The
					regulator of the foreign association believes that a merger is necessary to
					prevent the failure of the foreign association;
(2) The regulator of the foreign association
					believes that no adequate merger candidates exist within the regulator's
					jurisdiction;
(3) The regulator of
					the foreign association believes that it is appropriate for the foreign
					association to be acquired by a domestic association; and
(4) The director believes that it is
					appropriate for the domestic association to acquire the foreign association.
Any acquisition made under this authority shall be conducted in
						the same manner so outlined in
						RCW
						   33.24.350 - 33.24.380.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-590-020, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.014. 82-08-023 (Order 82-1), §
							419-52-020, filed 3/30/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-590 - Merger or acquisition of troubled associations › Section 208-590-030 - Acquisition of a troubled domestic association by a foreign association

Current through Register Vol. 24-14, July 15, 2024
Pursuant to
						RCW
						   33.12.012 and
						33.12.014, and notwithstanding any
						other law to the contrary, a foreign savings and loan association may acquire a
						domestic association under the following circumstances:
(1) The director believes that a merger is
					necessary to prevent the failure of the domestic association;
(2) The director believes that no adequate
					merger candidates exist in Washington;
(3) The director believes that it is
					appropriate for the domestic association to be acquired by a foreign
					association; and
(4) The regulator
					of the foreign association believes that it is appropriate for the foreign
					association to acquire the domestic association.
Any acquisition made under this authority shall be subject to
						RCW
						   33.24.350 - 33.24.380.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-590-030, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.014. 82-08-023 (Order 82-1), §
							419-52-030, filed 3/30/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-010 - Definitions

Current through Register Vol. 24-14, July 15, 2024
Unless the context clearly requires otherwise, the definitions
						in this section apply throughout this chapter.
(1) "Agency" means the fiduciary relationship
					in which title to the property constituting the agency does not pass to the
					trust department but remains in the owner of the property, who is known as the
					principal, and in which the agent is charged with certain specific duties with
					respect to the property.
(2)
					"Agency coupled with an interest" means an agency in which the agent has a
					legal interest in the subject matter. Such an agency is not terminated
					automatically, as are other agencies, by the death of the principal but
					continue in effect until the agent can realize upon its legal
					interest.
(3) "Fiduciary powers"
					means the power to act in any fiduciary capacity authorized by the state of
					Washington including, but not limited to; trustee, executor, administrator,
					registrar of stocks and bonds, guardian of estates, assignee, receiver, agent,
					custodian, escrow agent, corporate bond paying and transfer agent, escrow
					holder, managing agent, depositary, committee of estates of
					incompetents.
(4) "Managing agent"
					means the fiduciary relationship assumed by a trust department upon the
					creation of an account which names the association as agent and confers
					investment discretion upon the association.
(5) "Director" means the director of the
					department of financial institutions.
(6) "Trust business" means the business of
					doing any or all of the activities specified in RCW    30.08.150(2) through
					(11).
(7) "Trust department" means
					that group or groups of officers and employees of a savings and loan
					association to whom are designated by the board of directors the performance of
					the fiduciary responsibilities of the association, whether or not the groups or
					groups are so named.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-594-010, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-010, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-020 - Administration of fiduciary powers

Current through Register Vol. 24-14, July 15, 2024
(1)
(a) The
					board of directors of the savings and loan association is responsible for the
					proper exercise of fiduciary powers by the trust department. All matters
					pertinent thereto, including the determination of policies, the investment and
					disposition of property held in a fiduciary capacity, and the direction and
					review of the actions of all officers, employees, and committees utilized by
					the savings and loan association in the exercise of its fiduciary powers, are
					the responsibility of the board. In discharging this responsibility, the board
					of directors may assign, by action duly entered in the minutes, the
					administration of such of the association's fiduciary powers as it may consider
					proper to assign to such director(s), officer(s), employee(s), or committee(s)
					as it may designate.
(b) No
					fiduciary account shall be accepted without the prior approval of the board, or
					of the director(s), officer(s), or committee(s) to whom the board may have
					designated the performance of that responsibility. A written record shall be
					made of such acceptances and of the relinquishment or closing out of all
					fiduciary accounts. Upon the acceptance of an account for which the trust
					company has investment responsibilities a prompt review of the assets shall be
					made. The board shall also ensure that at least once during every calendar year
					thereafter, and within fifteen months of the last review, all the assets held
					in or for each fiduciary account where the association has investment
					responsibilities are reviewed to determine the advisability of retaining or
					disposing of such assets.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-030 - Application process

Current through Register Vol. 24-14, July 15, 2024
Associations desiring to establish trust departments shall
						complete an application establishing the scope of the intended operation. Upon
						receiving an application from an association to engage in trust business
						pursuant to this chapter, the director may request such additional information
						as he deems necessary for the informed disposition of the application. If
						supplementary information is requested by the director, the application will
						not be complete until the supplementary information is
						supplied.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-594-030, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-030, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-040 - Director action on application

Current through Register Vol. 24-14, July 15, 2024
After receiving an application from a savings and loan
						association to engage in trust business and after having considered it, the
						director shall grant, grant conditionally, grant in modified form, or deny the
						application and shall inform the applicant in writing of his action and of the
						reasons therefor. Any application not acted upon within six months after its
						receipt by the supervisor shall be deemed denied unless the director, in
						writing, informs the applicant that he is holding the application for further
						review.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-594-040, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-040, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-050 - Engagement in unauthorized trust business prohibited

Current through Register Vol. 24-14, July 15, 2024
No savings and loan association shall engage in any trust
						business not authorized in advance by the director in accordance with this
						rule, unless the director informs an applicant in writing that it may engage in
						a trust business provisionally while he reviews the application. Failure of a
						savings and loan association to comply with the terms of this chapter may be
						grounds for supervisory action against the savings and loan, its directors, or
						officers.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-594-050, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-050, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-060 - Modification or revocation of investment practices previously authorized

Current through Register Vol. 24-14, July 15, 2024
The director may find that a trust business previously
						authorized by him is no longer a safe and prudent practice for savings and loan
						associations generally to engage in, or has become inconsistent with applicable
						state or federal law, or has ceased to be a safe and prudent practice in one or
						more particular savings and loan associations in light of their financial
						condition or management. Upon such a finding, the director may in writing
						inform the board of directors of any or all of the associations engaging in
						such a trust business that the authority to engage in the activity has been
						revoked or modified. When the director so notifies any savings and loan
						association, its directors and officers shall forthwith take steps to cease the
						trust business (if authority to engage in the activity has been revoked) or to
						make such modifications as the director requires. The director may for cause
						shown grant a savings and loan association some definite period of time within
						in which to arrange its affairs to comply with the director's orders. Savings
						and loan associations which continue to engage in a trust business where their
						authority to do so has been revoked or modified will be treated as if the
						authority to engage in the practice had never been granted, and their actions
						may be grounds for supervisory action against the association, its directors,
						or officers.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-594-060, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-060, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-070 - Investigation fee for new trust applications

Current through Register Vol. 24-14, July 15, 2024
The investigation fee charged under
						RCW
						   33.28.020 in connection with applications to
						establish a new savings and loan trust department shall be one thousand
						dollars. In the event the actual costs of the investigation conducted with
						respect to a particular application are less than the amount of the fee, such
						difference between the fee and the actual costs submitted shall be refunded,
						provided that in no event shall more than five hundred dollars be refunded.
						Expansion of the originally approved scope of trust business must also be
						approved by the director by additional application and fee. In the event that
						actual costs of processing additional applications are less than the amount of
						the fee, such difference between the fee and the actual cost shall be refunded,
						provided that in no event shall more than seven hundred dollars be refunded.
						For the purposes of this section, actual costs include travel and per diem
						expenses paid to division personnel in connection with the
						investigation.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-594-070, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-070, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-080 - Audit of the trust department

Current through Register Vol. 24-14, July 15, 2024
A committee of directors, exclusive of any active officers of
						the savings and loan association shall at least once during each calendar year
						and within fifteen months of the last such audit, make suitable audits of the
						trust department or cause suitable audits to be made by auditors responsible
						only to the board of directors, and at such time shall ascertain whether the
						department has been administered in accordance with law, this rule, and sound
						fiduciary principles. The board of directors may elect, in lieu of such
						periodic audits, to adopt an adequate continuous audit system. A report of the
						audits and examination required under this section, together with the action
						taken thereon, shall be noted in the minutes of the board of
						directors.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, recodified
							as §
										208-594-080, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-080, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-594 - Savings and loan trust powers › Section 208-594-090 - Examinations and fees

Current through Register Vol. 24-14, July 15, 2024
The director shall have the power to examine the affairs of a
						trust department of a state-chartered savings and loan association under the
						same general powers as outlined in
						RCW
						   33.04.020. The report of examination of any
						trust department will be subject to the same restrictions as those of the
						parent association as outlined in
						RCW
						   33.04.110. Fees for such examinations will be
						charged on the same hourly basis as those for the parent association as
						established by administrative rule.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-594-090, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.12.010(24). 88-02-068
							(Order 87-2), § 419-56-090, filed
							1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-598 - Foreign association branch application procedures › Section 208-598-010 - Application procedures

Current through Register Vol. 24-14, July 15, 2024
RCW    33.32.030 provides for
						regulatory authority by the director over the activities of foreign
						associations within the state of Washington, and requires that such
						associations conduct their business in accordance with the appropriate statutes
						and under the requirements set forth by the director in various rules. In order
						to conduct the business of a savings and loan in Washington, a foreign
						association must formally apply for the approval of the supervisor. Procedures
						for application are as follows:
(1)
					The application must be filed with the supervisor at the offices of the
					Division of Banks in Olympia, Washington.
(2) The application shall be filed in
					duplicate and shall be accompanied by a filing fee of five thousand dollars. In
					the event the actual costs of investigating the application exceed this amount,
					such difference between the fee and the actual costs shall be paid by the
					applicant. For the purposes of this section, actual costs shall include but not
					be limited to travel and per diem expense paid to division personnel in
					connection with the investigation.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-598-010, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.32.030. 88-02-067 (Order 87-1), §
							419-60-010, filed 1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-598 - Foreign association branch application procedures › Section 208-598-020 - Information to be included in the application

Current through Register Vol. 24-14, July 15, 2024
An application shall include at least the following
						information:
(1) Name, address, and
					telephone number of the applicant.
(2) Name, address, and telephone number of
					the person to be contacted concerning the application.
(3) A summary of the applicant's history,
					which should include as a minimum the date and place of incorporation, the date
					and nature of any mergers or acquisitions, and certified current copies of the
					applicant's articles of incorporation and bylaws.
(4) A description of the applicant's business
					and corporate structure, including a listing of all branches or similar
					offices, and each majority owned subsidiary, and the nature and extent of the
					business activities of each.
(5) A
					business plan describing the applicant's proposed business activities in this
					state.
(6) A copy of the
					independent auditor's report for the applicant's most recent fiscal year and
					comparative financial statements for the prior fiscal year.
(7) The name, address, professional
					experience, and financial statement of the chief executive officer and
					principal operating officers.
(8)
					The name, address, and principal occupation of each director of applicant, and
					completed biographical and financial statements on each.
(9) A copy of the last two examination
					reports prepared by the Office of Thrift Supervision, the last two state
					examination reports, any correspondence from the relevant regulator to the
					board of directors discussing each report, and the board's responses
					thereto.
(10) A statement as to the
					presence or absence of any supervisory agreement or regulatory order that may
					be in effect or may have been in effect in the last five years, and, if so, a
					copy of each such order or agreement.
(11) An opinion from the applicant's state
					regulatory agency which describes the conditions under which Washington
					associations may conduct business in such state.
(12) A statement of total shares outstanding
					and total number of stockholders if the applicant is a stock association.
					Additionally, provide a breakdown of stock ownership by officers and directors
					and any other entities owning five percent or more of the association's
					stock.
(13) A copy of the
					association's bond and its riders/attachments.
(14) Any additional information that may be
					required by the director or deemed appropriate by the applicant.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-598-020, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.32.030. 88-02-067 (Order 87-1), §
							419-60-020, filed 1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-598 - Foreign association branch application procedures › Section 208-598-030 - Approval to conduct the business of an association in Washington

Current through Register Vol. 24-14, July 15, 2024
The information required by WAC
						208-598-020 must demonstrate to
						the satisfaction of the director:
(1)
					That the applicant, the directors of the applicant, and the chief officers of
					the applicant are each of good character and sound financial
					standing.
(2) That the financial
					history and condition of the applicant are satisfactory.
(3) That the applicant's plan to conduct the
					business of an association in Washington affords a reasonable promise of
					success.
(4) That the state in
					which the home office of the applicant is located permits Washington
					associations to conduct the business of an association in such state in
					substantially the same manner as the applicant proposes in this
					state.
Statutory Authority:
							RCW
							33.04.025 and
							43.320.040. 00-17-140, amended and
							recodified as §
										208-598-030, filed 8/22/00,
							effective 9/22/00. Statutory Authority:
							RCW
							   33.32.030. 88-02-067 (Order 87-1), §
							419-60-030, filed 1/6/88.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-100 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-100, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-300 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-300, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-400 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-400, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-500 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-500, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-600 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-600, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-700 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-700, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-800 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-800, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-600 - Mortgage lending and home ownership › Section 208-600-900 - Reserved

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							43.320.040, chapter 19.144 RCW. 08-22-083,
							§
										208-600-900, filed 11/4/08,
							effective 12/5/08.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-620 - Washington Consumer Loan Act › Section 208-620-011 - How does the department interpret certain definitions in RCW 3104015?

Current through Register Vol. 24-14, July 15, 2024
(1)
"Borrower"
means an
					individual who consults with or retains a licensee or person subject to this
					chapter in an effort to obtain or seek information about obtaining a loan for
					personal, family, or household use, or a residential mortgage loan
					modification, regardless of whether the individual actually obtains a loan or
					residential mortgage loan modification. "Borrower" also includes a "student
					education loan borrower."
(2)
"Director"
means the director of the department of financial
					institutions or his or her designated representative.
(3)
"Educational institution"
means:
(a) An entity that offers educational
					credentials, instruction, or services prerequisite to or indicative of an
					academic or professional degree beyond the secondary level;
(b) Any location where an entity is offering
					postsecondary education in any form or manner for the purpose of instructing,
					training, or preparing persons for any vocation or profession; and
(c) Any establishment licensed under chapter
					18.16 RCW that offers curriculums of instruction in the practice of
					cosmetology, hair design, barbering, esthetics, master esthetics, manicuring,
					or instructor-trainee.