Title 30A — Title 30A WASHINGTON COMMERCIAL BANK ACT
18 chapters · 298 sections in this title.
RCW 30A.12.047 Removal of a director, officer, or employee of a bank or holding company—Violation of final order—Penalty.
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Any present or former director, officer, or employee of a bank or holding company, or any other person against whom there is outstanding an effective final order served upon the person and who participates in any manner in the conduct of the affairs of the bank or holding company…
RCW 30A.12.060 Loans to officers or employees.
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(1) Any bank shall be permitted to make loans to any employee of such corporation, or to purchase, discount or acquire, as security or otherwise, the obligation or debt of any employee to any other person, to the same extent as if the employee were in no way connected with the co…
RCW 30A.12.070 Unsafe loans and discounts to directors or officers.
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The director may at any time, if in his or her judgment excessive, unsafe, or improvident loans are being made or are likely to be made by a bank to any of its directors or officers or the directors or officers of its holding company, or to any corporation, copartnership or assoc…
RCW 30A.12.090 False entries, statements, etc.—Penalty.
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Every person who shall knowingly subscribe to or make or cause to be made any false statement or false entry in the books of any bank or holding company, or shall knowingly subscribe to or exhibit any false or fictitious paper or security, instrument or paper, with the intent to …
RCW 30A.12.100 Destroying or secreting records—Penalty.
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Every officer, director, or employee or agent of any bank or holding company who, for the purpose of concealing any fact or suppressing any evidence against himself or herself, or against any other person, abstracts, removes, mutilates, destroys or secretes any paper, book or rec…
RCW 30A.12.110 Commission, etc., for procuring loan—Penalty.
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No officer, director, agent, employee or stockholder of any bank shall, directly or indirectly, receive a bonus, commission, compensation, remuneration, gift, speculative interest or gratuity of any kind from any person, firm or corporation other than the bank or as allowed by RC…
RCW 30A.12.115 Transactions in which director or officer has an interest.
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(1) If a transaction is fair to a corporation at the time it is authorized, approved, or ratified, the fact that a director or an officer had a direct or indirect interest in the transaction is not grounds for either invalidating the transaction or imposing liability on the direc…
RCW 30A.12.120 Loans to officers or employees from trust funds—Penalty.
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No corporation doing a trust business shall make any loan to any officer, or employee from its trust funds, nor shall it permit any officer, or employee to become indebted to it in any way out of its trust funds. Every officer, director, or employee of any such corporation, who k…
RCW 30A.12.130 Trust company as legal representative—Oath by officer.
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When any trust company shall be appointed executor, administrator, or trustee of any estate or guardian of the estate of any infant or other incompetent, it shall be lawful for any duly authorized officer of such corporation to take and subscribe for such corporation any and all …
RCW 30A.12.180 Levy of assessments.
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Whenever the director shall notify the board of directors of a bank to levy an assessment upon the stock of such corporation and the holders of two-thirds of the stock shall consent thereto, such board shall, within ten days from the issuance of such notice, adopt a resolution fo…
RCW 30A.12.190 General penalty—Effect of conviction.
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(1) Every person who shall knowingly violate, or knowingly aid or abet the violation of any provision of RCW 30A.04.010, 30A.04.030, 30A.04.050, 30A.04.060, 30A.04.070, 30A.04.075, 30A.04.111, 30A.04.120, 30A.04.130, 30A.04.180, 30A.04.210, 30A.04.220, 30A.04.280, 30A.04.300, 30A…
RCW 30A.12.205 Stock purchase options—Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans.
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Subject to any restrictions in its articles of incorporation and in accordance with and subject to the provisions of RCW 30A.08.088, the board of directors of a bank may grant options entitling the holders thereof to purchase from the corporation shares of any class of its stock.…
RCW 30A.12.220 Preemptive rights of shareholders to acquire unissued shares—Articles of incorporation may limit or permit—Later acquisition.
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The articles of incorporation of any bank organized under this title may limit or permit the preemptive rights of a shareholder to acquire unissued shares of the corporation and may thereafter by amendment limit, deny, or grant to shareholders of any class of stock the preemptive…
RCW 30A.12.230 Immunity of shareholders of bank insured by the federal deposit insurance corporation.
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The shareholders of a banking corporation organized under the laws of this state and the deposits of which are insured by the federal deposit insurance corporation shall not be liable for any debts or obligations of the bank.[ 1986 c 279 s 50. Formerly RCW 30.12.230.]
RCW 30A.12.240 Violations—Director liability.
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If the directors of any bank or holding company shall knowingly violate, or knowingly permit any of the officers, agents, or employees of the bank to violate any of the provisions of this title or any lawful regulation or directive of the director, and if the directors are aware …
RCW 30A.16.010 Certification—Effect—Penalty.
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No director, officer, agent or employee of any bank shall certify a check unless the amount thereof actually stands to the credit of the drawer on the books of such corporation and when certified must be charged to the account of the drawer. Every violation of this provision shal…
RCW 30A.20.005 Deposits by individuals governed by chapter 30A.22 RCW.
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Deposits made by individuals in a national bank, state bank[,] or other banking institution subject to the supervision of the director are governed by chapter 30A.22 RCW.[ 2014 c 37 s 190; 1994 c 92 s 74; 1981 c 192 s 23. Formerly RCW 30.20.005.]Notes:Effective date—1981 c 192: S…
RCW 30A.20.025 Receipt for deposits—Contents.
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Each person making a deposit in a bank shall be given a receipt that shall show or in conjunction with the deposit slip can be used to trace the name of the bank, the name of the account, the account number, the date, and the amount deposited. If specifically requested by the dep…
RCW 30A.20.060 Deposits and accounts—Regulations—Passbooks or records—Deposit contract.
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A bank shall repay all deposits to the depositor or his or her lawful representative when required at such time or times and with such interest as the regulations of the corporation shall prescribe. These regulations shall be prescribed by the directors of the bank and may contai…
RCW 30A.20.090 Adverse claim to a deposit to be accompanied by court order or bond—Exceptions.
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Notice to any national bank, state bank, savings bank, or bank under the supervision of the director, doing business in this state of an adverse claim to a deposit standing on its books to the credit of any person may be disregarded without liability by said bank unless said adve…
RCW 30A.22.010 Short title.
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This chapter shall be known and may be cited as the financial institution individual account deposit act.[ 1981 c 192 s 1. Formerly RCW 30.22.010.]
RCW 30A.22.020 Purposes.
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The purposes of this chapter are:(1) To provide a consistent law applicable to all financial institutions authorized to accept deposits from individuals with respect to payments by the institutions to individuals claiming rights to the deposited funds; and(2) To qualify and simpl…
RCW 30A.22.030 Construction.
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When construing sections and provisions of this chapter, the sections and provisions shall:(1) Be liberally construed and applied to promote the purposes of the chapter; and(2) Be considered part of a general act which is intended as unified coverage of the subject matter, and no…
RCW 30A.22.040 Definitions.
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Unless the context of this chapter otherwise requires, the terms contained in this section have the meanings indicated.(1) "Account" means a contract of deposit between a depositor or depositors and a financial institution; the term includes a checking account, savings account, c…
RCW 30A.22.041 Definitions.
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The definitions in this section apply throughout this section and RCW 30A.22.240 and 30A.22.245.(1) "Customer" means any person, partnership, limited partnership, corporation, trust, or other legal entity that is transacting or has transacted business with a financial institution…
RCW 30A.22.050 Types of accounts which financial institution may establish.
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The types of accounts in which funds may be deposited with a financial institution include, but are not limited to, the following:(1) A single account;(2) A joint account without right of survivorship;(3) A joint account with right of survivorship;(4) An agency account;(5) A trus…
RCW 30A.22.060 Requirements of contract of deposit.
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The contract of deposit shall be in writing and signed by all individuals who have a current right to payment of funds from an account. The designation of an agent, or trust or P.O.D. account beneficiary by a depositor of a joint account without right of survivorship, or the desi…
RCW 30A.22.070 Accounts of minors and incompetents.
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A minor or incompetent may enter into a valid and enforceable contract of deposit with the financial institution and any account in the name of a minor or incompetent shall, in the absence of clear and convincing evidence of a different intention at the time it is created, be hel…
RCW 30A.22.080 Accounts of married persons.
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A financial institution may enter into a contract of deposit without regard to whether the depositor is married and without regard as to whether the funds on deposit are the community or separate property of the depositor.[ 1981 c 192 s 8. Formerly RCW 30.22.080.]
RCW 30A.22.090 Ownership of funds during lifetime of depositor.
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Subject to community property rights, during the lifetime of a depositor, or the joint lifetimes of depositors:(1) Funds on deposit in a single account belong to the depositor.(2) Funds on deposit in a joint account without right of survivorship and in a joint account with right …
RCW 30A.22.100 Ownership of funds after death of a depositor.
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Subject to community property rights and subject to the terms and provisions of any community property agreement, upon the death of a depositor:(1) Funds which remain on deposit in a single account belong to the depositor's estate.(2) Funds belonging to a deceased depositor which…
RCW 30A.22.110 Controversies between owners.
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*RCW 30.22.090 and 30.22.100 are intended to establish ownership of funds on deposit in the accounts stated, as between depositors and/or trust or P.O.D. account beneficiaries, and the provisions thereof are relevant only as to controversies between such persons and their credito…
RCW 30A.22.120 Right to rely on form of account—Discharge of financial institutions.
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In making payments of funds deposited in an account, a financial institution may rely conclusively and entirely upon the form of the account and the terms of the contract of deposit at the time the payments are made. A financial institution is not required to inquire as to either…
RCW 30A.22.130 Rights as between individuals preserved.
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The protection accorded to financial institutions under RCW 30A.22.120, 30A.22.140, 30A.22.150, 30A.22.160, 30A.22.170, 30A.22.180, 30A.22.190, 30A.22.200, 30A.22.210, and 30A.22.220 shall have no bearing on the actual rights of ownership to deposited funds by a depositor, and/or…
RCW 30A.22.140 Payment of funds to a depositor.
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Payments of funds on deposit in a single account may be made by a financial institution to or for the depositor regardless of whether the depositor is, in fact, the actual owner of the funds. Payments of funds on deposit in an account having two or more depositors may be made by …
RCW 30A.22.150 Payment to minors and incompetents.
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Financial institutions may make payments of funds on deposit in an account established by a depositor who is a minor or incompetent without regard to whether it has actual knowledge of the minority or incompetency of the depositor unless the branch of the financial institution at…
RCW 30A.22.160 Payment to trust and P.O.D. account beneficiaries.
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Financial institutions may pay any funds remaining on deposit in an account to a trust or P.O.D. account beneficiary or beneficiaries when the financial institution has received proofs of death of all depositors to the account who pursuant to the terms of the contract of deposit …
RCW 30A.22.170 Payment to agents of depositors.
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Any funds on deposit in an account may be paid by a financial institution to or upon the order of any agent of any depositor. The contract of deposit or other document creating such agency may provide, in accordance with chapter 11.125 RCW, that any such agent's powers to receive…
RCW 30A.22.180 Payment to personal representatives.
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Financial institutions may pay any funds remaining on deposit in an account which belongs to a deceased depositor to the personal representative of the depositor's estate under any of the following circumstances:(1) When the decedent was the depositor on a single account; or(2) W…
RCW 30A.22.190 Payment to heirs and creditors of a deceased depositor.
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In each case, where it is provided in RCW 30A.22.180 that a financial institution may make payment of funds deposited in an account to the personal representative of the estate of a deceased depositor or beneficiary, the financial institution may make payment of the funds to the …
RCW 30A.22.200 Payment to foreign personal representative—Release of financial institution.
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In each case where it is provided in this chapter that payment may be made to the personal representative of the estate of a deceased depositor or trust or P.O.D. account beneficiary, financial institutions may make payment of the funds on deposit in a deceased depositor's or ben…
RCW 30A.22.210 Authority to withhold payment—Vulnerable adults.
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(1) Nothing contained in this chapter shall be deemed to require any financial institution to make any payment from an account to a depositor, or any trust or P.O.D. account beneficiary, or any other person claiming an interest in any funds deposited in the account, if the financ…
RCW 30A.22.220 Adverse claim bond.
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Notwithstanding RCW 30A.22.210, a financial institution may, without liability, pay or permit withdrawal of any funds on deposit in an account to a depositor and/or agent of a depositor and/or trust or P.O.D. account beneficiary, and/or other person claiming an interest therein, …
RCW 30A.22.230 Authority to charge a customer for furnishing items or copies of items.
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A financial institution may charge a customer for furnishing items or copies of items as defined in RCW 62A.4-104, in excess of the number of free items or copies of items provided for in RCW 62A.4-406(b), fifty cents per copy furnished plus fees for retrieval at a rate not to ex…
RCW 30A.22.240 Records—Disclosure—Requests by law enforcement—Fees.
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(1) If a financial institution discloses information in good faith concerning its customer or customers in accordance with this section, it shall not be liable to its customers or others for such disclosure or its consequences. Good faith will be presumed if the financial institu…
RCW 30A.22.245 Records—Admission as evidence—Certificate.
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Records obtained pursuant to this chapter shall be admitted as evidence in all courts of this state, under Washington rule of evidence 902, when accompanied by a certificate substantially in the following form:CERTIFICATE1. The accompanying documents are true and correct copies o…
RCW 30A.22.250 No duty to request information.
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RCW 9.38.015 does not create a duty for financial institutions to request the information set forth in RCW 9.38.015(1).[ 1995 c 186 s 5. Formerly RCW 30.22.250.]
RCW 30A.22.260 Promotional contests of chance—Director's authority.
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(1) If approved by its board of directors, a financial institution may conduct a promotional contest of chance as permitted under RCW 9.46.0356(1)(b).(2) A financial institution must not conduct a savings promotional contest of chance, if, in the opinion of the director:(a) It is…
RCW 30A.22.900 Effective date—1981 c 192.
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This act shall take effect on July 1, 1982.[ 1981 c 192 s 34. Formerly RCW 30.22.900.]
RCW 30A.22.902 Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
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For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to …