Washington Administrative Code

Whether or not the bond is renewed, continued, reinstated, reissued, or otherwise extended, replaced, or modified, including increases or decreases in the penal sum, it shall be considered one continuous obligation, and the surety shall not be liable in an aggregate or cumulative…

Any person who is a purchaser of a monetary instrument from the licensee having a claim against the licensee for the dishonor of any monetary instrument by the drawee financial institution due to insufficient funds or by reason of the account having been closed, or any person who…

You must notify the department of any claim against the bond within ten days of receiving notice of a claim.[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-230, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 31.04.165, 43.320.0…

The penal sum of the surety bond for a person with a check seller license shall not be less than the amount established in the following table:Highest MonthlyLiability*RequiredBondPlus Percentageof ExcessUp to $50,000Highest MonthlyLiability or $10,000, whichever is greater$0$50,…

The required penal sum of the bond for a small loan endorsement must be ten thousand dollars plus an additional one thousand dollars for each endorsed branch office beyond one branch.[Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030, 31.45.050, 31.45.200. WSR 05-22-009, …

With the approval of the director, you may substitute one of the following alternatives for the surety bond required under this chapter. Any alternative to the surety bond must secure the same obligations the surety bond would. The amount of a bond alternative substituted under s…

(1) The director may review any criminal history record information maintained by any federal, state, or local law enforcement agency relating to:(a) An applicant for a license or small loan endorsement under chapter 31.45 RCW; or(b) A controlling person of an applicant for a lic…

At the time an applicant files for a license, the applicant must pay to the director a deposit fee for investigating and processing the application.[Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030, 31.45.050, 31.45.200. WSR 05-22-009, § 208-630-280, filed 10/21/05, effe…

(1) The director shall collect a fee of sixty-nine dollars per employee hour expended for services, plus actual expenses, for review, investigation and processing of:(a) New license applications;(b) Small loan endorsement applications;(c) Additional locations;(d) Change of contro…

If the deposit required exceeds the actual amount derived in WAC 208-630-290(1), the amount in excess shall be refunded.If the deposit fee does not cover the costs of investigation and processing, the applicant will pay for any additional cost, which will be itemized and billed b…

The deposit fee is not refundable if the application is denied or withdrawn, or if the license is issued. The director will apply the deposit fee to the actual cost of investigating and processing the application.[Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030, 31.45.0…

The director determines the frequency of examinations for the purpose of determining compliance with chapter 31.45 RCW and these rules.The director or designee may at any time examine the records and documents used in the business of any licensee or licensee's agent wherever loca…

The director or designees may accept reports prepared by independent certified professionals or prepared by another state or the federal government in lieu of, in whole or in part, an examination performed by the director.[Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030…

In conducting examinations the director or designee may:(1) Obtain access, during reasonable business hours, to the offices and places of business, books, accounts, papers, files, records, computers, safes and vaults of any person in possession of information relevant to the exam…

Every licensee must pay to the director the actual cost of examining and supervising each licensed place of business at the examination hourly rate of sixty-nine dollars per person per hour expended, plus actual expenses, which for out-of-state exams includes, without limitation,…

The director or designee may conduct investigations at any time, in or outside of the state, to determine whether any person has violated or is about to violate chapter 31.45 RCW, these rules, or any order issued under these laws and rules. This includes a licensee or a business …

The director or designee may investigate the business of a licensee, or other business or personal financial records of any person subject to investigation. In conducting investigations, the director or designee may:(1) Have access to any location where records of the subject of …

Unless the person investigated is not required to hold a license, the person must pay the cost of the investigation at the hourly rate of sixty-nine dollars per person per hour expended, plus actual expenses, which for out-of-state investigations includes, without limitation, tra…

(1) The director may retain attorneys, accountants, or other professionals and specialists as examiners, auditors, or investigators, to conduct, or assist in the conduct of examinations, or investigations. Fees for services provided to the director by such professionals and speci…

(1) The director will charge each licensee an annual assessment at the rate set forth in subsection (2) of this section. Assessments for a calendar year will be computed on total volume of transactions as of December 31 of the previous calendar year.(2) The annual assessment rate…

The director may reinstate the license if, within twenty days after the effective date of expiration, the licensee:(1) Pays both the annual assessment fee and the late fee; and(2) Attests under penalty of perjury that it did not engage in conduct requiring a license under this ch…

The director may waive any or all of the fees and assessments imposed, in whole or in part, when he or she determines that both of the following factors are present:(1) The consumer services program fund exceeds the projected acceptable minimum fund balance level approved by the …

The total outstanding principal of all small loans made by all licensees to a single borrower may not exceed seven hundred dollars or thirty percent of the borrower's gross monthly income, whichever is lower.[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-…

(1) A record of the borrower's pay stub or payroll receipt;(2) A record of the borrower's receipt documenting payment of government benefits; or(3) Other documentation as approved by the director, including, but not limited to, records of bank statements that show regular direct …

The maximum number of loans that all licensees may make to a single borrower in any twelve-month period is eight loans.[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-463, filed 12/1/09, effective 1/1/10.]

(1) For small loans made in person you must use one of the following forms of identification which must contain a photograph of the borrower:(a) Driver's license issued in the United States, Canada, or Mexico;(b) Any state's state identification card;(c) Matricula consular;(d) Tr…

(1) You may charge interest or fees for small loans not to exceed in the aggregate fifteen percent of the first five hundred dollars of principal.(2) If the principal exceeds five hundred dollars, you may charge interest or fees not to exceed in the aggregate ten percent of the p…

The licensee must require and maintain an application for each borrower in each small loan transaction. Each application must contain the borrower's full name, Social Security number or other unique identifier acceptable to the director, current address, loan origination date, an…

The licensee may maintain a single master application in paper or electronic form that the licensee updates each time a customer takes out a new loan.[Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030, 31.45.050, 31.45.200. WSR 05-22-009, § 208-630-480, filed 10/21/05, ef…

Each small loan made under a small loan endorsement pursuant to chapter 31.45 RCW must be evidenced by a written note or loan agreement which must contain at least the following:(1) The origination date of the loan;(2) The principal of the loan;(3) The manner in which the loan is…

A licensee must provide a copy of the note or loan agreement (or if in electronic form, make available) to the borrower at the time the borrower executes the note or loan agreement.[Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030, 31.45.050, 31.45.200. WSR 05-22-009, § …

(1) The earliest due date for repayment is on or after the borrower's next pay date unless the pay date is within seven days of the date of the small loan. If the pay date falls within the seven days, you must set the repayment date on or after the borrower's second pay date afte…

You must prepare a receipt with information that includes, but is not limited to, the date of the payment, the borrower's name, the amount of cash received, an indication that the payment was made in cash, an indication that the payment was made on a loan or towards an installmen…

You must inform the borrower that he or she has a right to convert the small loan to an installment plan. See WAC 208-630-520.[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-506, filed 12/1/09, effective 1/1/10.]

(1) The borrower has the right to convert a small loan into an installment plan upon request made on or before the small loan's due date. If the request is made on the small loan's due date, it must be made before the close of business, or at another time on the due date as agree…

An installment plan under RCW 31.45.084 must contain the following terms:(1) The plan must be in writing;(2) If the small loan is four hundred dollars or less the term must be for a period of at least ninety days;(3) If the small loan is over four hundred dollars the term must be…

All installment plans under RCW 31.45.084 must:(1) Be in writing and acknowledged by both the borrower and licensee; and(2) Provide for at least three payments; and(3) Provide for an installment plan length of not less than ninety days for a loan amount of up to and including fou…

No. You may not charge any fee or interest to the borrower for converting the small loan to an installment plan as provided under RCW 31.45.084.[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-531, filed 12/1/09, effective 1/1/10.]

No. You are prohibited from making a small loan to a borrower who is in default on another small loan. This prohibition expires if the small loan is paid in full or two years have passed from the origination date of the small loan, whichever occurs first.[Statutory Authority: Cha…

No. You are prohibited from making a small loan to a borrower who is making payments as part of an installment plan with any licensee until after that loan is paid in full or two years have passed from the initiation date of the installment plan, whichever occurs first.[Statutory…

(1) For purposes of this section, "military borrower" means any active duty member of the armed forces of the United States, or any member of the National Guard or the reserves of the armed forces of the United States who has been called to active duty.(2) A licensee must:(a) Com…

If the small loan is not in an installment plan, you may charge or collect a fee equal to or less than twenty-five dollars for a check returned unpaid by the bank drawn upon. Only one fee may be collected with respect to a particular check even if it has been redeposited and retu…

The communication log must contain:(1) The date, time, and brief description of all telephone communications initiated by the licensee for collection purposes; and(2) The date, time, and brief description of all written communications initiated by the licensee for collection purp…

No. You may not allow a borrower to use a new small loan to pay off an existing small loan by the same lender or an affiliate of the lender. Licensees may not apply the proceeds from any small loan to any other loan from the same lender or affiliate of the lender.[Statutory Autho…

(1) You may add a trade or "DBA" name to your license if you first apply to the department, in a form prescribed by the department, and receive department approval. When the department has approved the trade name, you must conduct business under that trade name in at least one of…

You may not hold more than one check per small loan unless the loan is in an installment plan.(1) If you have made multiple loans to a single borrower, you may not hold checks that total more than the lower of:(a) Seven hundred dollars plus the allowable fees; or(b) Thirty percen…

(1) No. At the initiation of an installment plan, you must either return or, at the borrower's request, destroy any postdated check securing the original small loan.(2) The initiation of an installment plan voids your authorization to use the borrower's original ACH authorization…

Yes. You may take postdated checks at the time the installment plan is originated. The checks may not be written for a value more than the amount of the borrower's installment plan payments. If any of the checks are later dishonored, you may not charge the borrower any fee for th…

Yes. You may charge the borrower a one time default fee of twenty-five dollars. A borrower defaults on an installment plan when the borrower fails to pay any installment plan payment within ten days after the date upon which the installment was scheduled to be paid. On any one lo…

No. You may not charge a fee to cash a monetary instrument you or your affiliate issue as proceeds of a small loan you or an affiliate make under chapter 31.45 RCW.[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-551, filed 12/1/09, effect…