Title 33 — Title 33 WASHINGTON SAVINGS ASSOCIATION ACT
15 chapters · 162 sections in this title.
RCW 33.24.005 "Mortgage" includes deed of trust and real estate contract.
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The word "mortgage" as used in this title includes deed of trust and real estate contract.[ 1982 c 3 s 44; 1973 c 130 s 28.]Notes:Severability—1982 c 3: See note following RCW 33.04.002.Severability—1973 c 130: See note following RCW 33.24.350.
RCW 33.24.007 "Real property" defined.
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Unless the context clearly requires otherwise, "real property" means improved or unimproved real estate and includes leasehold interests in improved or unimproved real estate and includes manufactured housing whether temporarily, semipermanently, or permanently attached to land a…
RCW 33.24.010 Authority to invest—Limits on loans and extensions of credit.
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(1) An association may invest its funds only as provided in this chapter.(2) An association is subject to the same limits on loans and extensions of credit, and exceptions thereto, as set forth in *RCW 30.04.111.[ 2013 c 76 s 30; 1994 c 92 s 445; 1982 c 3 s 45; 1979 c 113 s 6; 19…
RCW 33.24.015 Loans generally—Limitation.
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An association may invest not more than twenty percent of its assets in loans on such terms as it deems appropriate.[ 1982 c 3 s 51.]Notes:Severability—1982 c 3: See note following RCW 33.04.002.
RCW 33.24.020 Obligations of United States or Canada.
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An association may invest its funds in loans upon or purchases of the bonds or obligations of or bonds or obligations guaranteed by the United States of America, including bonds of the District of Columbia, of the Dominion of Canada, or those for which the faith of the United Sta…
RCW 33.24.025 Investment in investment trusts or companies.
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Except as may be limited by the director by rule, an association may invest its funds in obligations of the United States, as authorized by RCW 33.24.020, either directly or in the form of securities of, or other interests in, an open-end or closed-end management type investment …
RCW 33.24.030 Obligations of this state.
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An association may invest its funds in the bonds or interest bearing obligations of this state or any agency thereof.[ 1955 c 126 s 1; 1945 c 235 s 60; Rem. Supp. 1945 s 3717-179. Prior: 1939 c 98 s 11; 1933 c 183 s 56.]
RCW 33.24.040 Obligations of other states.
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An association may invest its funds in the bonds or interest bearing obligations of any other state of the United States upon which there is no existing default and upon which there has been no default for more than ninety days within ten years immediately preceding the investmen…
RCW 33.24.050 Obligations of municipal corporations in this state.
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An association may invest its funds in the valid warrants or bonds of any city, town, county, school district, port district, or other municipal corporation in the state of Washington which are issued pursuant to law and for the payment of which the faith and credit of such munic…
RCW 33.24.060 Obligations of municipal corporations in any state.
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An association may invest its funds in the valid warrants or bonds of any city, county, school district, port district, or other municipal corporation in the United States having a population of not less than fifty thousand inhabitants as determined by the last federal census, wh…
RCW 33.24.065 Obligations issued or guaranteed by multilateral development bank.
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An association may invest in obligations issued or guaranteed by any multilateral development bank in which the United States government formally participates. Such investment in any one multilateral development bank shall not exceed five percent of the association's assets.[ 198…
RCW 33.24.070 City or district light, water, and sewer revenue bonds.
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An association may invest its funds in the revenue bonds of any city, town, district, or political subdivision of this state for the payment of which revenue of the city, town, district or political subdivision utility or revenue producing facility is irrevocably pledged.It may i…
RCW 33.24.080 Local improvement district bonds.
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An association may invest its funds in the bonds of any local improvement district of any city of this state (except bonds issued for an improvement consisting of grading only), the ultimate payment of which is guaranteed by the municipality under the provisions of guaranty laws …
RCW 33.24.090 Obligations of federal and state agencies—Investment in other associations.
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An association may invest its funds in stock or notes, bonds, debentures, or other such obligations of any federal home loan bank, the Home Owners' Loan Corporation, any federal land bank, the Federal Savings and Loan Insurance Corporation, the Federal Housing Administration, the…
RCW 33.24.100 Loans or other obligations secured by real property.
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An association may invest its funds in loans, mortgages, or other obligations secured by real property.[ 1982 c 3 s 46; 1979 c 113 s 7; 1969 c 107 s 5; 1949 c 20 s 6; 1945 c 235 s 67; Rem. Supp. 1949 s 3717-186. Prior: 1939 c 98 s 11; 1935 c 9 ss 1, 2, 3; 1933 c 183 ss 56, 58; 19…
RCW 33.24.115 Forming, incorporating with, or investing in other entities—Limitation.
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An association, alone or in conjunction with other entities, may form, incorporate, or invest in corporations or other entities, whether or not such other corporation or entity is related to the association's business. The aggregate amount of funds invested or used in the formati…
RCW 33.24.160 Investment in office equipment and real property interests used in doing business.
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An association may invest its funds in the acquisition of furniture, fixtures and office equipment convenient and necessary for the carrying on of its business.An association may invest its funds in real property or leasehold interests therein for use in the transaction of its bu…
RCW 33.24.200 Personal liability on unlawful loans.
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Every director, officer, agent, or employee of an association who shall borrow or who shall knowingly permit any person to borrow any of its funds in violation of the provisions of this title shall be personally liable for any loss or damage which the association may sustain in c…
RCW 33.24.210 Revenue bonds of public utility districts.
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See RCW 54.24.120.
RCW 33.24.220 Stock or bonds of federal home loan bank.
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See RCW 30A.32.020.Notes:Home loan bank as depositary: RCW 30A.32.040.May borrow from home loan bank: RCW 30A.32.030.
RCW 33.24.270 Stock in small business investment companies.
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A savings and loan association may purchase and hold for its own investment accounts stock in small business investment companies licensed and regulated by the United States as authorized by the small business act, Public Law 85-536, as amended and now in force, in an amount not …
RCW 33.24.295 Loans for nonbusiness family purposes—Limitation.
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An association may invest not to exceed twenty percent of its assets in loans for any nonbusiness family purposes.[ 1982 c 3 s 48; 1979 c 113 s 12; 1973 c 130 s 27.]Notes:Severability—1982 c 3: See note following RCW 33.04.002.Severability—1979 c 113: See note following RCW 33.04…
RCW 33.24.345 Acquisition of control of association—Authorized.
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A person or other entity, including an association, organized under the laws of this state or authorized to transact business in this state, may acquire any or all of the assets or shares of stock of any association authorized to transact business under this title.[ 1982 c 3 s 52…
RCW 33.24.350 Acquisition of control of association—Definitions.
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Unless the context requires otherwise, the definitions in this section apply throughout this chapter.(1) "Subsidiary" of a person or other entity means any person or other entity which is controlled by such person or other entity.(2) "Control" means directly or indirectly or acti…
RCW 33.24.360 Acquisition of control of association—Unlawful, when—Application—Contents—Notice to other associations—Penalty.
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(1) It is unlawful for any acquiring party to acquire control of an association until thirty days after the date of filing with the director an application containing substantially all of the following information and any additional information that the director may prescribe as …
RCW 33.24.370 Acquisition of control of association—Action or proceeding to prevent—Grounds.
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The director may within thirty days after the date of filing of the application under RCW 33.24.360, file an action or proceeding in superior court to prevent the pending acquisition of control if the director finds any of the following:(1) The acquisition would substantially les…
RCW 33.24.375 Acquisition of control of association—Application to foreign association branches.
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RCW 33.24.345, 33.24.350, 33.24.360, and 33.24.370 do not apply to foreign associations doing business in this state, except when an acquiring party intends to acquire only one or more branches of a foreign association which are located in this state.[ 1982 c 3 s 56.]Notes:Severa…