reglab/statecodes huggingface dataset:
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-08 - Adjudicative procedures › Section 208-08-140 - Transcript of proceedings

Current through Register Vol. 24-14, July 15, 2024
(1)
Recording and transcripts.
Testimony and argument at the hearing
					shall be recorded either electronically or stenographically. Any party, upon
					motion, may order the court reporter to transcribe the proceedings at the
					party's expense. A party who orders a transcript of the proceedings shall
					provide the original transcript to the presiding officer at that party's
					expense, and upon such other terms as the presiding officer shall
					order.
(2)
Correction of
					transcript.
Corrections in the official transcript may be made only to
					make it conform to the evidence presented at the hearing. The presiding officer
					may call for the submission of proposed corrections and may dispose of them at
					appropriate times during the proceeding. If the parties agree and the presiding
					officer approves, transcript corrections may be incorporated into the record at
					any time during the hearing or after the close of evidence. All corrections
					must be made within ten calendar days after receipt of the transcript unless
					the presiding officer allows a different period.
Statutory Authority:
							RCW
							43.320.040 and
							34.05.250. 96-11-035, §
										208-08-140, filed 5/6/96,
							effective 6/6/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-08 - Adjudicative procedures › Section 208-08-150 - Amending initiating document

Current through Register Vol. 24-14, July 15, 2024
(1) Prior to the assignment of a presiding
					officer the initiating document may be amended at any time.
(2) After the assignment of a presiding
					officer the initiating document may be amended upon motion filed by the
					department and service to all parties. The motion will be granted unless the
					presiding officer finds a party will be unduly prejudiced or
					burdened.
(3) When the initiating
					document is a statement of charges, a party must submit an answer within thirty
					days.
(4) The presiding officer may
					delay all or part of the hearing if necessary to afford a party the opportunity
					to respond or prepare.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-08 - Adjudicative procedures › Section 208-08-160 - Interlocutory decision-Discretionary review

Current through Register Vol. 24-14, July 15, 2024
(1)
Definitions.
Unless the
					context indicates otherwise, as used in this chapter, the following terms mean:
(a)
"Interlocutory decision"
means any initial decision or order of the presiding officer that does not
					terminate or fully resolve the matter before the presiding officer.
(b)
"Motion for discretionary
					review"
means a motion to the director for discretionary review of an
					interlocutory decision by the presiding officer and does not mean a petition
					for review under
					RCW
					   34.05.464.
(c)
"Petition for
					reconsideration"
means a petition before the presiding officer for
					reconsideration of an interlocutory decision and does not mean a petition for
					review under
					RCW
					   34.05.464 or a petition for reconsideration
					under RCW
					   34.05.470.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-08 - Adjudicative procedures › Section 208-08-170 - Administrative hearings-Divisions of banks and credit unions with enforcement jurisdiction

Current through Register Vol. 24-14, July 15, 2024
(1)
Administrative hearings when the division of banks or division of credit
					unions is the charging authority.
An administrative hearing involving a
					notice of charges against a Washington state-chartered commercial bank under
					Title 30A RCW, savings bank under Title 32 RCW, savings association under Title
					33 RCW, trust company under Title 30B RCW, credit union under chapter 31.12
					RCW, the holding company of such commercial bank, savings bank, or savings
					association, a present or former director, officer, or employee of such
					commercial bank, savings bank, savings association, or credit union, or any
					other person subject to the jurisdiction of chapter 31.12 RCW, Titles 30A, 30B,
					32, or 33 RCW, may be held at a place designated by the director and conducted
					by the department of financial institutions in accordance with chapter 34.05
					RCW, the model rules of procedures and this chapter but without referral to the
					office of administrative hearings. To the extent the requirements of chapter
					31.12 RCW, Titles 30A, 30B, 32, or 33 RCW, as applicable, are inconsistent with
					chapters 34.05 and 31.12 RCW, Titles 30A, 30B, 32, or 33 RCW, as applicable,
					will govern.
(2)
Administrative hearings involving miscellaneous nondepositary entities
					when the division of banks is the charging authority.
In the case of an
					administrative hearing involving a notice of charges against a Washington
					state-chartered or state-licensed business development company under chapter
					31.24 RCW, agricultural lender under chapter 31.35 RCW, or federally guaranteed
					small business lender under chapter 31.40 RCW, the requirements of chapters
					31.24, 31.35 and 31.40 RCW, respectively, governs to the extent of any
					inconsistency with chapter 34.05 RCW.
(3)
Director's appointment of
					independent hearing officer.
If the department elects to conduct an
					administrative hearing as permitted by this section, the director must appoint
					a hearing officer from outside the division of the department bringing the
					notice of charges, who may be either an employee from another division or an
					independent contractor. The director may elect to either retain review
					jurisdiction or delegate authority for issuance of a final order to the
					appointed hearing officer.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-010 - Purpose-Scope-Conflict with other regulations

Current through Register Vol. 24-14, July 15, 2024
(1) The purpose of this chapter is to ensure
					compliance with
					RCW
					   42.56.040; with the applicable provisions of
					the Public Records Act, chapter 42.56 RCW; and to provide notice to the public
					of the organization and procedure of the department as required by the
					Administrative Procedure Act, chapter 34.05 RCW.
(2) This chapter establishes general rules
					regarding public records in the custody or control of the department.
(3) Department divisions may adopt additional
					rules to supplement this chapter.
(4) If specific rules adopted by a division
					conflict with this chapter, the specific rules control in those
					situations.
Statutory Authority:
							RCW
							   43.320.040 and 42.17.250. 96-14-082, §
										208-12-010, filed 7/1/96,
							effective 8/1/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-020 - Definitions

Current through Register Vol. 24-14, July 15, 2024
As used in this chapter, unless the language clearly indicates
						otherwise:
"Department" means the Washington state department of financial
						institutions.
"Director" means the director of the department, who is a
						cabinet-level appointee of the governor of the state of Washington.
"Division" means an organizational division of the department
						as the director, pursuant to his or her authority under chapter 43.320 RCW, has
						or may hereafter designate and empower including, without limitation, the
						division of administration, division of banks, division of consumer services,
						division of credit unions, and division of securities.
"Person" means any individual, partnership, joint venture,
						public or private corporation, limited liability company, association, federal,
						state or local government entity or agency however constituted, or any other
						organization or group of persons, however organized.
Statutory Authority:
							RCW
							   43.320.040 and 42.17.250. 96-14-082, §
										208-12-020, filed 7/1/96,
							effective 8/1/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-030 - Description of organization of department

Current through Register Vol. 24-14, July 15, 2024
(1) The department is an administrative,
					supervisory, licensing, regulatory, public outreach, educational, and
					chartering agency.
(2) The
					department is organized pursuant to chapter 43.320 RCW under a director,
					appointed by the governor, and assistant directors (also known as "division
					directors"), appointed by the director.
(3) The director has delegated authority to
					each assistant director to act in a specific functional area. The functional
					areas are the: Division of administration; division of banks; division of
					consumer services; division of credit unions; and division of
					securities.
(4) Four of these
					divisions regulate various programs including, but not limited to:
(a) The chartering, licensing, and regulation
					of state banks; nonbank trust companies and trust departments of banks; state
					savings banks; holding companies of state banks and state savings banks;
					bureaus and other offices; and agricultural credit corporations, federally
					guaranteed small business loan companies, and business development companies,
					by and through the division of banks;
(b) The licensing and regulation of consumer
					loan companies, check cashers and sellers, small loan licensees, mortgage
					brokers, mortgage loan officers, mortgage loan facilitators, mortgage loan
					servicers, escrow agents, money transmitters, currency exchangers, and other
					money services businesses, and tax refund anticipation lenders, by and through
					the division of consumer services;
(c) The chartering and regulation of state
					credit unions and credit union service organizations, which are administered by
					and through the division of credit unions;
(d) The registering and regulation of
					securities offerings and broker-dealers, commodities offerings and
					broker-dealers, franchises and franchise brokers, business opportunities, and
					investment advisers, by and through the division of securities; and
(e) The licensing and regulation of other
					similar or incidental financial businesses or areas of financial regulation by
					one or more of the divisions enumerated in this section.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-040 - Location and address of administrative office-Public records officer contact information

Current through Register Vol. 24-14, July 15, 2024
(1) The
					administrative office of the department, including each of its divisions, are
					located at 150 Israel Road S.W., Tum-water, Washington 98501.
(2) The mailing address of the department and
					each of its divisions is P.O. Box 41200, Olympia, WA 98504-1200.
(3) The public records officer may be reached
					at:
Public Records Officer
Department of Financial Institutions
P.O. Box 41200
Olympia, WA 98504-1200
Email: dfipublicrecords@dfi.wa.gov
Statutory Authority:
							RCW
							   43.320.040 and 42.17.250. 96-14-082, §
										208-12-040, filed 7/1/96,
							effective 8/1/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-050 - Office hours

Current through Register Vol. 24-14, July 15, 2024
(1) Public
					records are available for inspection and copying during customary office hours,
					consistent with chapter 42.56 RCW, the Public Records Act.
(2) For the purposes of this chapter, the
					customary office hours of the administrative office are from 8:00 a.m. to noon
					and from 1:00 p.m. to 4:00 p.m., Monday through Friday, excluding legal
					holidays.
Statutory Authority:
							RCW
							   43.320.040 and 42.17.250. 96-14-082, §
										208-12-050, filed 7/1/96,
							effective 8/1/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-070 - Procedure to request public records

Current through Register Vol. 24-14, July 15, 2024
(1) Many public records are available for
					inspection on the department's web site, www.dfi.wa.gov/public-records-index,
					at no cost. Requestors are encouraged to view the records available on the web
					site prior to submitting a records request.
(2) Any person seeking to inspect or copy
					public records of the department should make the request in writing on the
					department's request form, available at www.dfi.wa.gov/public-records-index, by
					letter, fax, email addressed to the public records officer at
					dfipublicrecords@dfi.wa.gov, or by submitting the request in person at the
					department's administrative office. The request should include the following
					information:
(a) The name of the
					requestor;
(b) Contact information
					such as address, telephone number, email address, or other preferred contact
					information;
(c) The address where
					copies of records are to be mailed or emailed, or notification that the
					requestor wants to examine the records at the department's administrative
					office;
(d) An identification or
					description of the public records adequate for the public records officer or
					designee to locate the record or, if the record requested is referenced within
					the department's public records index, a reference to the requested record as
					it is described in the index; and
(e) The date and time of the
					request.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-075 - Processing public records requests

Current through Register Vol. 24-14, July 15, 2024
(1)
Order of processing
					requests.
The department will process requests in the order that allows
					requests to be fulfilled in the most efficient manner feasible.
(2)
Acknowledging receipt of a
					request.
The department will acknowledge a request for public records
					within five business days after the department receives the request, by:
(a) Making the requested records available
					for inspection or copying or by providing copies of the records, including:
(i) If records are available on the
					department's web site, by providing an internet address and link on the web
					site to specific records requested;
(ii) If copies are requested and all
					applicable costs and deposits, if any, are paid by the requestor or other terms
					of payment are agreed upon, sending the copies to the requestor;
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-080 - Inspection of public records

Current through Register Vol. 24-14, July 15, 2024
(1) It
					is the department's responsibility to protect public records from destruction,
					damage or disorganization, and prevent excessive interference with essential
					functions of the department.
(2)
					Before a person may inspect original records, that person must agree to the
					following conditions:
(a) The records may not
					be removed from the area designated for review;
(b) The records may not be
					destroyed;
(c) The records may not
					be altered in any way;
(d) The
					records may not be defaced in any way, including marking upon, folding or
					folding anew if in folded form, tracing or fastening with clips or other
					fasteners except those that already exist in the file;
(e) The records may not be cut, torn or
					mutilated in any way;
(f) The
					records must be kept in the order in which received; and
(g) The records will be returned to the
					department's public records officer or his or her designee when no longer
					required by the requestor, but no later than the end of customary business
					hours.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-090 - Fees-Payments

Current through Register Vol. 24-14, July 15, 2024
(1) Copy fees and
					payment procedures apply to requests to the department under chapter 42.56 RCW
					received by the department on or after the effective date of these
					rules.
(2) The department finds
					that it would be unduly burdensome to calculate the actual costs of providing
					public records to requestors for the following reasons:
(a) The scope of requests and staff time
					required to provide records varies widely depending on numerous
					factors;
(b) The department does
					not have the resources to conduct a study to determine its actual copying
					costs;
(c) To conduct such a study
					would interfere with other essential agency functions; and
(d) Through the 2017 legislative process, the
					public and requestors have commented on, and been informed of, authorized fees
					and costs, including for electronic records, provided in
					RCW    42.56.120(2)(b)
					and (c), (3), and (4).
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-100 - Exemptions from public records

Current through Register Vol. 24-14, July 15, 2024
(1) All public records of the department are
					available for public inspection and copying pursuant to this chapter, unless
					the department determines that a requested public record or portion of a public
					record is exempt under the provisions of chapter 42.56 RCW or other
					statute.
(2) Various statutes
					exempt certain records from disclosure including, but not limited to:
(a)
Division of Banks
-
					Examination reports and information obtained by the department in relation to:
(i) Washington state commercial banks and
					their holding companies,
					RCW
					   30A.04.075;
(ii) Washington state savings banks and their
					holding companies,
					RCW
					   32.04.220;
(iii) Nondepositary trust companies,
					RCW
					   30B.04.060;
(iv) Agricultural lenders, chapter 31.35
					RCW;
(v) Federally guaranteed small
					business loan companies, chapter 31.40 RCW; and
(vi) Business development companies,
					RCW
					   31.24.120.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-110 - Denials of public records requests - Review

Current through Register Vol. 24-14, July 15, 2024
(1) Any person who objects to the initial
					denial or partial denial of a records request may petition, in writing
					(including by email), to the public records officer for a review of that
					denial. The petition shall include a copy of, or reasonably identify, the
					written statement by the public records officer or designee denying the
					request.
(2) The director or
					director's designee will consider the petition and affirm, reverse, or modify
					the denial within two business days following the department's receipt of the
					petition, or within such other time as the department and the requestor
					mutually agree. The original denial becomes final if the director does not
					respond within two business days.
(3) Administrative remedies are not exhausted
					until the denial becomes final.
(4)
					Pursuant to
					RCW
					   42.56.530, if the department denies a
					requestor access to public records because it claims the record is exempt in
					whole or in part from disclosure, the requestor may request the attorney
					general's office to review the matter. The attorney general has adopted rules
					on such requests in WAC
					44-06-160.
Statutory Authority:
							RCW
							   43.320.040 and 42.17.250. 96-14-082, §
										208-12-110, filed 7/1/96,
							effective 8/1/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-120 - Records index

Current through Register Vol. 24-14, July 15, 2024
The department maintains an index of its records available to
						the public on its web site, at
						www.dfi.wa.gov/public-records-index.
Statutory Authority:
							RCW
							   43.320.040 and 42.17.250. 96-14-082, §
										208-12-120, filed 7/1/96,
							effective 8/1/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-12 - Public records › Section 208-12-130 - Information - Address

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							   43.320.040 and 42.17.250. 96-14-082, §
										208-12-130, filed 7/1/96,
							effective 8/1/96.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-400 - Credit union corporate governance › Section 208-400-010 - Reasonable compensation

Current through Register Vol. 24-14, July 15, 2024
(1)
Authority to compensate directors
					and supervisory committee members.
Subject to the provisions of this
					section, a credit union may pay compensation to its directors and supervisory
					committee members for their service as directors and supervisory committee
					members that is reasonable in accordance with subsection (4) of this
					section.
(2)
"Compensation."
(a) As used in
					this section, "compensation" means anything of value that is both:
(i) Given to a director or supervisory
					committee member in exchange for services performed as a director or
					supervisory committee member; and
(ii) Required to be reported to the Internal
					Revenue Service as income.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-400 - Credit union corporate governance › Section 208-400-020 - Definitions

Current through Register Vol. 24-14, July 15, 2024
Unless the context clearly requires otherwise, as used in this
						chapter:
"Board"
has the same meaning as ascribed in
						RCW
						   31.12.005(1).
"Board chair"
means the serving chairperson of the
						board of directors of a credit union, who has been duly appointed by the board
						of directors to serve as its chair.
"CAMEL"
means the rating system used to measure
						the safety and soundness of credit unions that are insured by the National
						Credit Union Share Insurance Fund (as defined in  12 U.S.C. Sec. 1783) and
						which scores a credit union's capital adequacy, asset quality, management,
						earnings, and asset/liability management (liquidity), both individually and on
						a composite basis.
"Credit union"
has the same meaning as ascribed in
						RCW
						   31.12.005(5).
"Director"
has the same meaning as ascribed to
						that term in
						RCW
						   31.12.005(8).
"Manager"
means the duly appointed and serving
						chief executive officer of a credit union.
"Troubled condition"
has the same meaning ascribed
						to that term in the rules of the National Credit Union Administration, at  12 C.F.R. Sec. 701.14(b)(3).
"Unsafe or unsound practice"
has the same
						definition as ascribed to that term in
						RCW
						   31.12.005(26).
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-400 - Credit union corporate governance › Section 208-400-030 - Frequency of board meetings

Current through Register Vol. 24-14, July 15, 2024
(1)
Authority to determine the frequency of board of directors
					meetings.
Subject to the provisions of this section, a board may
					determine the frequency of its meetings and must specify such frequency in its
					bylaws.
(2)
Minimum meeting
					requirement.
A board of directors must meet a minimum of six times in
					each calendar year and at least once per calendar quarter.
(3)
Director's authority to require
					more frequent meetings.
The director may require that a board meet more
					frequently if he or she finds that it is necessary for the board to meet more
					frequently to address examination matters, including without limitation,
					evidence of any of the following:
(a) The
					credit union's current composite CAMEL rating issued by the director is a 3, 4,
					or 5;
(b) The credit union's
					current management component CAMEL rating issued by the director is a 3, 4, or
					5;
(c) The credit union's net worth
					ratio is less than seven percent;
(d) The credit union is currently in a
					troubled condition;
(e) In the
					judgment of the director, the credit union has committed an unsafe or unsound
					practice that has not been corrected to the satisfaction of the director and
					that continues to be a concern to the director, or the credit union is about to
					commit an unsafe or unsound practice; or
(f) The credit union has been notified in
					writing by the director of a significant supervisory or financial
					concern.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-400 - Credit union corporate governance › Section 208-400-040 - Parity requests Procedures for requesting powers and authorities authorized in other states

Current through Register Vol. 24-14, July 15, 2024
(1) A credit
			 union must send written notice to the director, by United States mail or by
			 electronic delivery, of its intent to exercise a power or authority that it
			 would have if it were an out-of-state credit union.
(2) The written request must provide the
			 following information in order to be considered complete:
(a) A description of the specific proposed
			 powers or authorities and how the power or authority will serve the convenience
			 and advantage of the credit union's members;
(b) The state law citations upon which the
			 powers or authorities are based;
(c) A description of the policies,
			 procedures, or other documents the credit union will use in implementing the
			 powers or authorities;
(d) A
			 description of how the powers or authorities will impact the credit union's
			 safety and soundness, including net worth and earnings; and
(e) Any actions planned to mitigate the
			 safety and soundness risks created by the requested powers and
			 authorities.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-418 - Fees charged to credit unions and other persons › Section 208-418-010 - Definitions

Current through Register Vol. 24-14, July 15, 2024
Unless the context clearly requires otherwise, as used in this
						chapter:
(1) "Credit union" includes a
					Washington credit union, an out-of-state credit union and a foreign credit
					union.
(2) "Foreign credit union"
					means a credit union organized and operating under the laws of another country
					or other foreign jurisdiction, that is operating a branch in Washington in
					accordance with
					RCW
					   31.12.471.
(3) "Hourly fee" means a fee of $64.35 per
					hour per examiner or other staff person of the division.
(4) "Out-of-state credit union" means a
					credit union organized and operating under the laws of another state or U.S.
					territory or possession, that is operating a branch in Washington in accordance
					with RCW
					   31.12.471.
(5)
(a)
					"Total assets" of a Washington credit union includes all assets of the credit
					union as reported on the credit union's most recent form 5300 or similar
					financial report.
(b) "Total
					assets" of an out-of-state or foreign credit union is derived from the
					following fraction:
Total assets x in-state shares and deposits
Total shares and deposits
"Total assets" and "shares and deposits" include respectively
						all assets and shares and deposits as reported on the credit union's most
						recent form 5300 or similar financial report.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-418 - Fees charged to credit unions and other persons › Section 208-418-020 - Collection of fees

Current through Register Vol. 24-14, July 15, 2024
Chapter
						31.12 RCW authorizes the
						director to charge fees to credit unions and certain other persons in order to
						cover the costs of the operation of the division of credit unions and to
						establish a reasonable reserve for the division. As set forth in more detail in
						this chapter, the fees for this purpose shall consist of:
(1) Semiannual asset assessments charged to
					credit unions;
(2) Charges to a
					credit union for costs incurred by the division for certain types of attorney
					general or special counsel assistance in regard to the credit union;
					and
(3)Certain other fees charged
					by the director.
The director may waive all or any portion of any fee payable by
						a credit union or other person.
Statutory Authority:
							RCW
							   31.12.426(1),
							31.12.516(2), 43.320.040. 01-12-004, §
										208-418-020, filed 5/23/01,
							effective 6/23/01. Statutory Authority: 1996 c 274. 96-12-058, §
										208-418-020, filed 5/31/96,
							effective 7/1/96. 96-06-011, recodified as §
										208-418-020, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.535 and
							
											31.12.545. 95-06-066, §
							419-18-020, filed 2/28/95, effective 3/31/95. Statutory Authority: RCW
							31.12.320. 83-20-027 (Order 83-4), § 419-18-020, filed 9/26/83; 82-13-016
							(Order 82-5), § 419-18-020, filed
							6/7/82.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-418 - Fees charged to credit unions and other persons › Section 208-418-050 - Pass through of attorney general costs

Current through Register Vol. 24-14, July 15, 2024
(1) The director may charge each credit union
					the actual cost incurred by the division of credit unions for certain legal
					assistance rendered by an assistant attorney general or special counsel in
					regard to that credit union. Legal assistance includes legal assistance
					rendered in connection with: Supervisory committee meetings and board meetings;
					receiverships, conservatorships, liquidations and declarations of insolvency;
					enforcement agreements or actions; collection actions; administrative hearings;
					declaratory orders; and opinions requested by a credit union or the division of
					credit unions. Charges are due upon receipt of billing from the
					division.
(2) The division will
					notify a credit union before the division incurs expense for legal assistance
					which may be charged to the credit union under this section.
Statutory Authority: Chapter 43.135 RCW,
							RCW
							43.320.040,
							31.12.516(6), and
							2008 c 285. 08-24-057, §
										208-418-050, filed 11/26/08,
							effective 12/31/08. Statutory Authority:
							RCW
							   31.12.426(1),
							31.12.516(2),
							43.320.040. 01-12-004, §
										208-418-050, filed 5/23/01,
							effective 6/23/01. Statutory Authority: 1996 c 274. 96-12-058, §
										208-418-050, filed 5/31/96,
							effective 7/1/96. 96-06-011, recodified as §
										208-418-050, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.535 and
							
											31.12.545. 95-06-066, §
							419-18-050, filed 2/28/95, effective 3/31/95; 91-06-062, § 419-18-050,
							filed 3/1/91, effective 4/1/91. Statutory Authority: RCW 31.12.320. 83-20-027
							(Order 83-4), § 419-18-050, filed
							9/26/83.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-418 - Fees charged to credit unions and other persons › Section 208-418-070 - Other fees

Current through Register Vol. 24-14, July 15, 2024
(1) The director
					will charge hourly fees as follows:
(a) An
					hourly fee will be charged to a person other than a credit union or a
					subsidiary of one or more credit unions for each information systems and
					technology examination of the person by the division of credit
					unions.
(b) An hourly fee will be
					charged to a credit union for the examination of the credit union's application
					to add a community group to its field of membership.
(c) An hourly fee will be charged to a credit
					union for a fraud investigation or examination of the credit union and/or
					persons involved with the credit union by the division.
(d) An hourly fee will be charged to an
					out-of-state or foreign credit union for examination and supervision by the
					division under WAC
					208-418-040(4).
(e) An hourly fee will be charged to an
					out-of-state or foreign credit union for the examination of the credit union's
					application to operate a branch in this state.
(f) An hourly fee will be charged to other
					divisions or agencies for examinations, investigations, or similar undertakings
					performed on their behalf by the division.
(g) An hourly fee will be charged for
					investigation or examination of conversion applications.
(h) An hourly fee will be charged for initial
					and annual examination of alternative share insurers that apply for
					authorization to do business with Washington state chartered credit
					unions.
(i) An hourly fee will be
					charged for examination of credit union service organizations and their
					subsidiaries.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-418 - Fees charged to credit unions and other persons › Section 208-418-100 - Waiver of fees

Current through Register Vol. 24-14, July 15, 2024
The director may waive any or all of the fees and assessments
						imposed under WAC
						208-418-040 and
						208-418-070, in whole or in part,
						when the director determines that such course of action would be fiscally
						prudent.
Statutory Authority: Chapter 43.135 RCW,
							RCW
							43.320.040,
							31.12.516(6), and
							2008 c 285. 08-24-057, §
										208-418-100, filed 11/26/08,
							effective 12/31/08. Statutory Authority:
							RCW
							   31.12.426(1),
							31.12.516(2),
							43.320.040. 01-12-004, §
										208-418-100, filed 5/23/01,
							effective 6/23/01.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-424 - Regulatory relief for small credit unions › Section 208-424-010 - Definition of small credit union

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							   31.12.516(2), (3), (4),
							43.17.060, 43.320.040. 02-14-038, §
										208-424-010, filed 6/26/02,
							effective 7/27/02.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-424 - Regulatory relief for small credit unions › Section 208-424-020 - Timing of special membership meetings of small credit unions

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							   31.12.516(2), (3), (4),
							43.17.060, 43.320.040. 02-14-038, §
										208-424-020, filed 6/26/02,
							effective 7/27/02.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-424 - Regulatory relief for small credit unions › Section 208-424-030 - Frequency of regular meetings of board of directors of small credit unions

Current through Register Vol. 24-14, July 15, 2024
Statutory Authority:
							RCW
							   31.12.516(2), (3), (4),
							43.17.060, 43.320.040. 02-14-038, §
										208-424-030, filed 6/26/02,
							effective 7/27/02.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-436 - Rules governing supervisory approval of credit union investment practices › Section 208-436-010 - Application to make investments not otherwise permitted by law

Current through Register Vol. 24-14, July 15, 2024
If any credit union wishes to deposit or invest its capital,
						deposits, or surplus funds in a manner not specifically permitted to credit
						unions by chapter 31.12
						RCW, the credit union shall, before engaging in the proposed investment
						practice, make written application to the director for authority to make the
						proposed investment. The application shall contain at least the following
						information:
(a) The name of the
					credit union;
(b) The proposed
					source or sources of the funds to be deposited or invested;
(c) A detailed description of the type of
					deposit or investment the credit union proposes to make, including the names of
					any natural persons, corporations, financial institutions or government
					agencies serving as banker, trustee, management agent, broker, guarantor,
					seller of securities, or purchaser of securities;
(d) References, if known to the applicant,
					showing that other state chartered credit unions have been permitted to make
					the same type of investment or deposit;
(e) Copies of statutes, regulations, rulings,
					official correspondence or other information showing that federally chartered
					credit unions are permitted to make the type of investment or deposit proposed
					in the application;
(f) Such other
					information as the applicant credit union wishes to offer in evidence that the
					proposed investment or deposit would be a safe and prudent one for the
					applicant credit union to engage in.
Statutory Authority: RCW 42.320.040 [43.320.040] and
							31.12.535. 96-17-071, §
										208-436-010, filed 8/20/96,
							effective 9/20/96. 96-06-011, recodified as §
										208-436-010, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.260(g). 79-07-002 (Order
							79-1), § 419-36-010, filed
							6/7/79.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-436 - Rules governing supervisory approval of credit union investment practices › Section 208-436-020 - Supplementary application information

Current through Register Vol. 24-14, July 15, 2024
Upon receiving an application from a credit union to engage in
						an investment or deposit practice pursuant to this chapter, the director may
						request such additional information as he or she deems necessary for the
						informed disposition of the application. If supplementary application
						information is requested by the director, the application will not be deemed
						complete until the supplementary information is supplied.
Statutory Authority: RCW 42.320.040 [43.320.040] and
							31.12.535. 96-17-071, §
										208-436-020, filed 8/20/96,
							effective 9/20/96. 96-06-011, recodified as §
										208-436-020, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.260(g). 79-07-002 (Order
							79-1), § 419-36-020, filed
							6/7/79.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-436 - Rules governing supervisory approval of credit union investment practices › Section 208-436-030 - Investments previously approved for other state chartered credit unions

Current through Register Vol. 24-14, July 15, 2024
If the director finds that the applicant credit union proposes
						to make the same type of investment or deposit which one or more other state
						chartered credit unions have previously received permission to make, the
						director shall grant the application unless he or she finds that the financial
						position or the state of management of the applicant credit union is such that
						the proposed investments or deposits would not be sound or prudent investment
						practices for the applicant credit union, in which case the director may
						instead grant the application conditionally, grant it in modified form, or deny
						the application.
Statutory Authority: RCW 42.320.040 [43.320.040] and
							31.12.535. 96-17-071, §
										208-436-030, filed 8/20/96,
							effective 9/20/96. 96-06-011, recodified as §
										208-436-030, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.260(g). 79-07-002 (Order
							79-1), § 419-36-030, filed
							6/7/79.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-436 - Rules governing supervisory approval of credit union investment practices › Section 208-436-040 - Investment practice permitted to federally chartered credit unions

Current through Register Vol. 24-14, July 15, 2024
If the director finds that the applicant credit union proposes
						to make the same type of investment or deposit which one or more other
						federally chartered credit unions have previously received permission to make,
						the director shall grant the application unless he or she finds that the
						financial position or the state of management of the applicant credit union is
						such that the proposed investments or deposits would not be sound or prudent
						investment practices for the applicant credit union, in which case the director
						may instead grant the application conditionally, grant it in modified form, or
						deny the application.
Statutory Authority: RCW 42.320.040 [43.320.040] and
							31.12.535. 96-17-071, §
										208-436-040, filed 8/20/96,
							effective 9/20/96. 96-06-011, recodified as §
										208-436-040, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.260(g). 79-07-002 (Order
							79-1), § 419-36-040, filed
							6/7/79.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-436 - Rules governing supervisory approval of credit union investment practices › Section 208-436-050 - Investment practice not previously permitted to any credit union

Current through Register Vol. 24-14, July 15, 2024
If the director finds that the proposed investment or deposit
						practice has not previously been permitted to any state chartered or federally
						chartered credit union, the director shall make inquiry as to whether the
						proposed investment or deposit practice would be consistent with Washington law
						and as to whether the proposed investment or deposit practice would be a sound
						and prudent practice for the applicant credit union. In connection with this
						inquiry, the director may consider the general nature and functions of credit
						unions, as well as the specific financial condition and management of the
						applicant credit union, as revealed in the application, examinations, or such
						other information as may be at hand. If the director finds that the investment
						or deposit practice as proposed would be contrary to or inconsistent with the
						laws of the state of Washington, or would not be a sound investment practice,
						the director shall deny the application. If the director finds that proposed
						investment or deposit practice would be a sound and prudent practice for the
						applicant credit union, the director shall grant the application.
						Alternatively, the director may, for cause, grant the application
						conditionally, grant it in modified form, or deny it in whole or in
						part.
Statutory Authority: RCW 42.320.040 [43.320.040] and
							31.12.535. 96-17-071, §
										208-436-050, filed 8/20/96,
							effective 9/20/96. 96-06-011, recodified as §
										208-436-050, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.260(g). 79-07-002 (Order
							79-1), § 419-36-050, filed
							6/7/79.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-436 - Rules governing supervisory approval of credit union investment practices › Section 208-436-060 - Director action on application

Current through Register Vol. 24-14, July 15, 2024
After receiving an application from a credit union to engage in
						an investment or deposit practice not otherwise permitted by law, and after
						having considered it as provided in this chapter, the director shall grant,
						grant conditionally, grant in modified form, or deny the application, and shall
						inform the applicant credit union in writing of this action and of the reasons
						therefor. Any application not acted upon within six months after its receipt by
						the director shall be deemed denied unless the director, in writing, informs
						the applicant credit union that the application is being held for further
						review.
Statutory Authority: RCW 42.320.040 [43.320.040] and
							31.12.535. 96-17-071, §
										208-436-060, filed 8/20/96,
							effective 9/20/96. 96-06-011, recodified as §
										208-436-060, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.260(g). 79-07-002 (Order
							79-1), § 419-36-060, filed
							6/7/79.
Washington Administrative Code › Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460) › Chapter 208-436 - Rules governing supervisory approval of credit union investment practices › Section 208-436-070 - Engagement in unauthorized investment practice prohibited

Current through Register Vol. 24-14, July 15, 2024
No state chartered credit union shall engage in any investment
						or deposit practice not authorized by a specific provision of Washington state
						law or by the director in accordance with this chapter. Unless the director, in
						writing, informs an applicant credit union that it may engage in an investment
						or deposit practice provisionally while the application is being reviewed, no
						credit union shall make deposits or investments pursuant to an application made
						under this chapter until it has received written authority to do so as provided
						herein. Failure of a credit union to comply with the terms of this chapter
						shall be deemed an unsound credit union practice and a wilful violation of an
						order of the director and may be grounds for appropriate supervisory action
						against the credit union, its directors or officers.
Statutory Authority: RCW 42.320.040 [43.320.040] and
							31.12.535. 96-17-071, §
										208-436-070, filed 8/20/96,
							effective 9/20/96. 96-06-011, recodified as §
										208-436-070, filed 2/23/96,
							effective 6/1/96. Statutory Authority: RCW 31.12.260(g). 79-07-002 (Order
							79-1), § 419-36-070, filed
							6/7/79.