Washington Administrative Code

(1) The semiannual assessment shall be computed using the asset value reflected in the most recent report of condition. The director may adjust such rates if the director determines that a disproportionate amount of revenue is being collected. The rate of charge is set forth in t…

(1) Each regulated institution shall pay to the division hourly fees in the amount of eighty-three dollars for regular examinations. This includes safety and soundness, information technology, trust, and any other examination requiring specialized expertise.(a) The hourly rate ap…

(1) The division shall collect one hundred dollars for issuing each of the following:(a) Branch certificates;(b) Certificates of increase or decrease of capital stock;(c) Certificates of authority;(d) Certificates of corporate existence; and(e) Any other certificates issued by th…

(1) The division shall collect hourly fees in the amount of eighty-three dollars plus actual expenses for all services attendant to:(a) The chartering of a new regulated institution;(b) The conversion of an existing nonstate chartered institution to a Washington state chartered i…

The division may collect the following legal fees:(1) Hourly fees in the amount of eighty-three dollars for legal opinions rendered interpreting statutes and rules;(2) Pass-through costs for legal assistance rendered by an assistant attorney general or special counsel related to …

(1) The director may make a finding that a minimum cash balance of at least one month's allotment be maintained in the banking fund as set out in RCW 43.320.110. One month's allotment is the current biennium budget divided by twenty-four months. (2) In the event the banking fund …

These regulations are promulgated pursuant to section 9, chapter 157, Laws of 1983, to establish a procedure under which an out-of-state bank holding company which desires to acquire more than five percent of the shares of the voting stock, or all or substantially all of the asse…

An application for approval of such acquisition shall be submitted jointly by the acquiring bank holding company and the domestic institution or bank holding company to be acquired. The application need not be in any particular format, but must set forth all the information requi…

Unless included in other information required by this chapter, the application shall set forth the name and main office address of all operating subsidiaries of both the acquiring bank holding company and the bank, trust company, national banking association or domestic bank hold…

The bank, trust company, national banking association, or domestic bank holding company to be acquired shall include with the application each of the following items of information:(a) A statement verifying that the bank, trust company, national banking association or domestic ba…

The applicant out-of-state bank holding company shall submit with the application each of the following items of information:(a) A copy of its most recent audited financial statement, its most recently prepared statement of assets and liabilities, including footnotes and explanat…

The applicant out-of-state bank holding company shall make available for review by the division of banks the following:(a) Any current file which it or its principal banking subsidiary or subordinate is required to maintain by regulations promulgated by the appropriate federal fi…

The bank, trust company, national banking association or domestic bank holding company to be acquired shall make available to the director all internally generated reports relating to the operation of any or all operating subsidiaries during the immediately preceding two-year per…

The application must state whether any management official (as defined in 12 U.S.C. §3201(4)) of the acquiring out-of-state bank holding company or any of its affiliated corporations (as the term "affiliated" is defined by 12 U.S.C. §3201(3)) is also a management official of any …

The director may consult with appropriate federal regulatory agencies in connection with any application filed hereunder and shall consider any information received from such agency or agencies in ruling upon the application.[Statutory Authority: RCW 30.04.030 and 43.320.040. WSR…

The director of the department of financial institutions, having reviewed the laws of the following states as they relate to a domestic (Washington) bank holding company acquiring more than five percent of the shares of the voting stock or all or substantially all of the assets o…

The purpose of this chapter shall be to provide guidelines for application for a license to operate a nondepository small business lending venture under the auspices of the federal Small Business Administration (SBA) guaranty program known as the 7(a) loan guaranty program. Speci…

An application for state license to operate a nondepository small business lending venture to qualify for participation in the SBA 7(a) program shall be filed with the director of the department of financial institutions and shall include such fees as established elsewhere in the…

Applicants may use the same documentation as required by the SBA for their approval of the lender to the extent that such documentation meets the requirements of statute and these rules unless waived by the director. The application must contain the following:(1) Applicant's name…

Licensees shall maintain an adequate financial condition.(1) Minimum capital (unimpaired paid-in capital, surplus, and undivided profits) shall be in the amount of five hundred thousand dollars or five and one-half percent of total assets, whichever is greater, or a greater amoun…

Licensees shall maintain records in a fashion consistent with a financial institution and shall have them at all times readily accessible to the director. Records shall be preserved under the following schedule:(1) Preserve permanently:(a) All general and subsidiary ledgers refle…

Licensees shall submit the following reports to the director:(1) Annual audits prepared in accordance with generally accepted accounting principles which shall be certified unless the director makes other provision in writing in advance.(2) Quarterly financial reports which shall…

The director will conduct examinations of licensees as provided by statute and will forward a report of examination to the licensee's board of directors for information and action as appropriate. These examination reports and all subsequent and related correspondence are the prop…

The cost of regulation of nondepositary lenders licensed under Title 31 RCW, shall be borne by the licensees under the following schedule:(1) Application fee. A fee of two thousand dollars must accompany an application for this license to cover the cost of investigation.(2) Acqui…

The requirement of RCW 33.28.020 that the director collect from each savings and loan association the actual costs of examinations and supervision shall be met in accordance with the procedures established in this chapter. The fee shall consist of three elements: (1) An hourly ch…

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 …

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 assessme…

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 appli…

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 o…

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…

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 bran…

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 additi…

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 associati…

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 associa…

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 Autho…

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 s…

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 o…

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 d…

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. WSR 00-17-140, amended and recodified as § 208-590-010, filed 8/22/00, eff…

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 foreig…

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 t…

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 …

(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 fiduc…

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 in…

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 an…

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. Fa…

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 prac…

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 tha…

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 audit…

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 …