Title 30A — Title 30A WASHINGTON COMMERCIAL BANK ACT
18 chapters · 298 sections in this title.
RCW 30A.08.010 Incorporators—Paid-in capital stock, surplus, and undivided profits—Requirements.
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When authorized by the director, as hereinafter provided, one or more natural persons, citizens of the United States, may incorporate a bank in the manner herein prescribed. No bank shall incorporate for less amount nor commence business unless it has a paid-in capital stock, sur…
RCW 30A.08.020 Notice of intention to organize—Proposed articles of incorporation—Contents.
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Persons desiring to incorporate a bank shall file with the director a notice of their intention to organize a bank in such form and containing such information as the director shall prescribe by rule, together with proposed articles of incorporation, which shall be submitted for …
RCW 30A.08.025 Limited liability company—Organization or conversion—Approval of director—Conditions—Application of chapter 25.15 RCW—Definitions.
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(1) Notwithstanding any other provision of this title, if the conditions of this section are met, a bank or a holding company of a bank may be organized as, or convert to, a limited liability company under the Washington limited liability company act, chapter 25.15 RCW. As used i…
RCW 30A.08.030 Investigation.
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When the notice of intention to organize and proposed articles of incorporation complying with the foregoing requirements have been received by the director, together with the fees required by law, the director shall ascertain from the best source of information at his or her com…
RCW 30A.08.040 Notice to file articles—Articles approved or refused—Hearing.
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After the director is satisfied of the above facts, and, within six months of the date the notice of intention to organize has been received in his or her office, the director shall notify the incorporators to file executed articles of incorporation with the director in triplicat…
RCW 30A.08.050 Approved articles to be filed and recorded—Organization complete.
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In case of approval the director shall forthwith give notice thereof to the proposed incorporators and file one of the triplicate articles of incorporation in his or her own office, and shall transmit another triplicate to the secretary of state, and the last to the incorporators…
RCW 30A.08.055 Amending articles—Filing with director—Contents.
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A bank amending its articles of incorporation shall deliver articles of amendment to the director for filing as required for articles of incorporation. The articles of amendment shall set forth:(1) The name of the bank;(2) The text of each amendment adopted;(3) The date of each a…
RCW 30A.08.060 Certificate of authority—Issuance—Contents.
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Before any bank shall be authorized to do business, and within ninety days after approval of the articles of incorporation or such other time as the director may allow, it shall furnish proof satisfactory to the director that such corporation has a paid-in capital in the amount d…
RCW 30A.08.070 Failure to commence business—Effect—Extension of time.
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Every corporation heretofore or hereafter authorized by the laws of this state to do business as a bank, which corporation shall have failed to organize and commence business within six months after certificate of authority to commence business has been issued by the director, sh…
RCW 30A.08.080 Extension of existence—Application—Investigation—Certificate—Appeal—Winding up for failure to continue existence.
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At any time not less than one year prior to the expiration of the time of the existence of any bank, it may by written application to the director, signed and verified by a majority of its directors and approved in writing by the owners of not less than two-thirds of its capital …
RCW 30A.08.081 Shares—Certificates not required.
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(1) Shares of a bank may, but need not be, represented by certificates. Unless this title expressly provides otherwise, the rights and obligations of shareholders are identical whether or not their shares are represented by certificates. At a minimum, each share certificate must …
RCW 30A.08.082 Authority to issue preferred or special classes of stock.
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(1) Notwithstanding any other provisions of law and if so authorized by its articles of incorporation or amendments thereto made in the manner provided in the case of a capital increase, any bank may, pursuant to action taken by its board of directors from time to time with the a…
RCW 30A.08.083 Authority to divide classes into series—Rights and preferences—Filing of statement.
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(1) If the articles of incorporation shall expressly vest authority in the board of directors, then, to the extent that the articles of incorporation shall not have established series, and fixed and determined the variations in the relative rights and preferences as between serie…
RCW 30A.08.084 Rights of holders of preferred or special classes of stock—Preference in dividends and liquidation.
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Notwithstanding any other provisions of law, whether relating to restriction upon the payment of dividends upon capital stock or otherwise, the holders of shares of preferred or special classes of stock shall be entitled to receive such dividends on the purchase price received by…
RCW 30A.08.086 Determination of capital impairment when capital consists of preferred stock.
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If any part of the capital of a bank consists of preferred stock, the determination of whether or not the capital of such bank is impaired and the amount of such impairment shall be based on the value of its stock as established at the time it was issued, or its par value, if any…
RCW 30A.08.087 Authorized but unissued shares of capital stock—Issuance—Consideration.
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Any bank may provide in its articles of incorporation or amendments thereto for authorized but unissued shares of its capital stock. The shares may be issued for such consideration as shall be established by the board from time to time and all consideration received therefor shal…
RCW 30A.08.088 Authorized but unissued shares of capital stock—When shares become part of capital stock.
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The authorized but unissued shares shall not become a part of the capital stock until they have been issued and paid for.[ 1994 c 256 s 46; 1994 c 92 s 53; 1986 c 279 s 27; 1979 c 106 s 2; 1965 c 140 s 2. Formerly RCW 30.08.088.]Notes:Reviser's note: This section was amended by 1…
RCW 30A.08.090 Amendment of articles—Procedure.
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Unless the articles of incorporation provide otherwise, the board of directors of a bank may, by majority vote, amend the bank's articles of incorporation without shareholder action as follows:(1) If the bank has only one class of shares outstanding, to provide, change, or elimin…
RCW 30A.08.092 Increase or decrease of capital stock authorized.
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A bank may increase or decrease its capital stock by amendment to its articles of incorporation. No issuance of capital stock shall be valid, until the amount thereof shall have been actually paid in. No reduction of the capital stock shall be made to an amount less than is requi…
RCW 30A.08.140 Corporate powers of banks.
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Upon the issuance of a certificate of authority to a bank, the persons named in the articles of incorporation and their successors shall thereupon become a corporation and shall have power:(1) To adopt and use a corporate seal;(2) To have perpetual succession;(3) To make contract…
RCW 30A.08.150 Banks engaged in trust business.
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(1) Upon the issuance of a certificate of authority to a bank, the persons named in the articles of incorporation and their successors shall have the power to engage in trust business and other business the same as a state trust company as set forth in *RCW 30B.08.080(1) (b) thro…
RCW 30A.08.180 Reports of resources and liabilities.
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Every bank shall make at least three regular reports each year to the director, as of the dates which he or she shall designate, according to form prescribed by him or her, verified by the president, manager or cashier and attested by at least two directors, which shall exhibit u…
RCW 30A.08.190 Time of filing—Availability—Penalty.
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(1) Every regular report shall be filed with the director within thirty days from the date of issuance of the notice. Every special report shall be filed with the director within such time as shall be specified by him or her in the notice therefor.(2) The director shall provide a…