Title 31 — Title 31 MISCELLANEOUS LOAN AGENCIES
8 chapters · 280 sections in this title.
RCW 31.35.010 Findings—Intent.
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The legislature finds and declares that nondepository agricultural lenders can enhance their access to working capital for the purpose of financing agricultural borrowers by using the United States farmers home administration loan guaranty program. The farmers home administration…
RCW 31.35.020 Definitions.
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Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) "Agricultural lender" means a Washington corporation incorporated under Title 23B or 24 RCW and qualified as such under this chapter and the jurisdiction of the federa…
RCW 31.35.030 Administration—Rules—Duties of director.
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(1) The director shall administer this chapter. The director may issue orders and adopt rules that, in the opinion of the director, are necessary to execute, enforce, and effectuate the purposes of this chapter. Rules to enforce the provisions of this chapter shall be adopted und…
RCW 31.35.040 Participation by agricultural lender—Powers and privileges.
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(1) An agricultural lender may participate in a loan guaranty program. If an agricultural lender participates in a loan guaranty program, the agricultural lender shall comply with the requirements of that program.(2) An agricultural lender may be incorporated under either the Was…
RCW 31.35.050 Costs of supervision—Fees.
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(1) The director is authorized to charge a fee for the estimated direct and indirect costs for examination and supervision by the director of an agricultural lender or a subsidiary of an agricultural lender. Excess examiner time shall be billed at a reasonable rate established by…
RCW 31.35.060 Responsibility of agricultural lender—Recordkeeping—Loan loss reserve.
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(1) An agricultural lender shall keep books, accounts, and other records in such form and manner as required by the director. These records shall be kept at such place and shall be preserved for such length of time as specified by the director by rule.(2) Not more than ninety day…
RCW 31.35.070 Examination of agricultural lender.
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(1) The director shall visit each agricultural lender at least every twenty-four months for the purpose of assuring that the agricultural lender remains in compliance with and qualified for the loan guaranty program.(a) The director may accept timely audited financial statements …
RCW 31.35.080 Enforcement—Responsibility of director—Penalty.
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(1) The director shall adopt rules to enforce the intent and purposes of this chapter. Such rules shall include, but not be limited to, the following:(a) Disclosure of conflicts of interest;(b) Prohibition of false statements made to the director on any form required by the direc…
RCW 31.35.090 Enforcement—Court order.
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If, in the opinion of the director, an agricultural lender violates or there is reasonable cause to believe that an agricultural lender is about to violate any provision of this chapter or any rule adopted under this chapter, the director may bring an action in the appropriate co…
RCW 31.35.100 Notice—Investments not insured.
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All agricultural lenders shall notify their members at the time of membership and annually thereafter that their investment in the agricultural lender, although regulated by the director, is not insured, guaranteed, or protected by any federal or state agency.[ 1994 c 92 s 259; 1…
RCW 31.35.105 Application of RCW 31.24.230.
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RCW 31.24.230 (2) through (4) supersede any contrary provision of this chapter.[ 2006 c 87 s 28.]
RCW 31.35.900 Severability—Administrative review—1990 c 134.
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If any provision of this act or its application to any person or circumstance is held invalid or, if in the written opinion of the farmers home administration, is contrary to the intent and purposes of the loan guaranty program, the director shall not enforce such provision, but …