Title 30A — Title 30A WASHINGTON COMMERCIAL BANK ACT
18 chapters · 298 sections in this title.
RCW 30A.44.270 Federal deposit insurance corporation as receiver or liquidator—Appointment—Powers and duties.
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(1) The federal deposit insurance corporation is hereby authorized and empowered to be and act without bond as receiver or liquidator of any bank the deposits in which are to any extent insured by that corporation and of which the director shall have taken possession pursuant to …
RCW 30A.44.280 Payment or acquisition of deposit liabilities by federal deposit insurance corporation—Not hindered by judicial review—Liability.
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The pendency of any proceedings for judicial review of the director's actions in taking possession and control of a bank and its assets for the purpose of liquidation shall not operate to defer, delay, impede, or prevent the payment or acquisition by the federal deposit insurance…
RCW 30A.46.010 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Unsafe condition" shall mean and include, but not be limited to, any one or more of the following circumstances:(a) If a bank is less than well-capitalized;(b) If a ba…
RCW 30A.46.020 Grounds for determining need for supervisory direction—Abatement of determination—Supervisory direction, procedure—Conservator, immunity.
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(1) If upon examination or at any other time it appears to the director that any bank is in an unsafe condition and its condition is such as to render the continuance of its business hazardous to the public or to its depositors and creditors, or if such bank appears to have excee…
RCW 30A.46.030 Supervisory direction—Appointment of representative to supervise—Restrictions on operations.
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During the period of supervisory direction the director may appoint a representative to supervise such bank and may provide that the bank may not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed repres…
RCW 30A.46.040 Conservator—Appointment—Grounds—Powers, duties, and functions.
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After the period of supervisory direction specified by the director for compliance, if he or she determines that such bank has failed to comply with the lawful requirements imposed, upon due notice and hearing or by consent of the bank, the director may appoint a conservator, who…
RCW 30A.46.050 Costs as charge against bank's assets.
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All costs incident to supervisory direction and the conservatorship shall be fixed and determined by the director and shall be a charge against the assets of the bank, excluding trust assets under management, to be allowed and paid as the director may determine.[ 2014 c 37 s 248;…
RCW 30A.46.060 Request for review of action—Stay of action—Orders subject to review.
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During the period of the supervisory direction and during the period of conservatorship, the bank may request the director to review an action taken or proposed to be taken by the representative or conservator; specifying wherein the action complained of is believed not to be in …
RCW 30A.46.070 Suits against bank or conservator, where brought—Suits by conservator.
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Any suit filed against a bank or its conservator, after the entrance of an order by the director placing such bank in conservatorship and while such order is in effect, shall be brought in the superior court of Thurston county and not elsewhere. The conservator appointed hereunde…
RCW 30A.46.080 Duration of conservator's term—Rehabilitated banks—Management.
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The conservator shall serve for such time as is necessary to accomplish the purposes of the conservatorship as intended by this chapter. If rehabilitated, the rehabilitated bank shall be returned to management or new managements under such conditions as are reasonable and necessa…
RCW 30A.46.090 Authority of director.
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If the director determines to act under authority of this chapter, the sequence of his or her acts and proceedings shall be as set forth in this chapter. However, it is the purpose and substance of this chapter to authorize administrative discretion—to allow the director administ…
RCW 30A.46.100 Rules.
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The director is empowered to adopt and promulgate such reasonable rules as may be necessary for the implementation of this chapter and its purposes.[ 1994 c 92 s 141; 1975 1st ex.s. c 87 s 10. Formerly RCW 30.46.100.]
RCW 30A.49.010 Definitions.
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As used in this chapter:"Merging bank" means a party to a merger;"Converting bank" means a bank converting from a state to a national bank, or the reverse;"Merger" includes consolidation;"Resulting bank" means the bank resulting from a merger or conversion.Wherever reference is m…
RCW 30A.49.020 State bank to resulting national bank—Laws applicable—Vote required—Termination of franchise.
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This section is applicable where there is to be a resulting national bank.Nothing in the law of this state shall restrict the right of a state bank to merge with or convert into a resulting national bank. The action to be taken by such merging or converting state bank and its rig…
RCW 30A.49.030 State or national bank to resulting state bank—Law applicable to nationals.
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This section is applicable where there is to be a resulting state bank.Upon approval by the director, state or national banks may be merged to result in a state bank, or a national bank may convert into a state bank as hereafter prescribed, except that the action by a national ba…
RCW 30A.49.040 Merger to resulting state bank—Exception—Agreement, contents, approval, amendment.
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This section is applicable where there is to be a resulting state bank, except in the case of reorganization and exchange as authorized by this title.(1) The board of directors of each merging state bank shall, by a majority of the entire board, approve a merger agreement which s…
RCW 30A.49.050 Merger to resulting state bank—Stockholders' vote—Notice of meeting—Waiver of notice.
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To be effective, a merger which is to result in a state bank must be approved by the stockholders of each merging state bank by a vote of two-thirds of the outstanding voting stock of each class at a meeting called to consider such action, which vote shall constitute the adoption…
RCW 30A.49.060 Merger to resulting state bank—Effective date—Termination of charters—Certificate of merger.
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A merger which is to result in a state bank shall, unless a later date is specified in the agreement, become effective after the filing with and upon the approval of the director of the executed agreement together with copies of the resolutions of the stockholders of each merging…
RCW 30A.49.070 Conversion of national to state bank—Requirements—Procedure.
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Except as provided in RCW 30A.49.100, a national bank located in this state which follows the procedure prescribed by the laws of the United States to convert into a state bank shall be granted a state charter by the director if he or she finds that the bank meets the standards a…
RCW 30A.49.080 Resulting bank as same business and corporate entity—Use of name of merging, converting bank.
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A resulting state or national bank shall be the same business and corporate entity as each merging state or national bank or as the converting state or national bank with all property, rights, powers and duties of each merging state or national bank or the converting state or nat…
RCW 30A.49.090 Rights of dissenting shareholder—Appraisal—Amount due as debt.
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The owner of shares of a state bank which were voted against a merger to result in a state bank, or against the conversion of a state bank into a national bank, shall be entitled to receive their value in cash, if and when the merger or conversion becomes effective, upon written …
RCW 30A.49.100 Provision for successors to fiduciary positions.
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Where a resulting state bank is not to exercise trust powers, the director shall not approve a merger or conversion until satisfied that adequate provision has been made for successors to fiduciary positions held by the merging state or national banks or the converting state or n…
RCW 30A.49.110 Assets, business—Time for conformance with state law.
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If a merging or converting state or national bank has assets which do not conform to the requirements of state law for the resulting state bank or carries on business activities which are not permitted for the resulting state bank, the director may permit a reasonable time to con…
RCW 30A.49.120 Resulting state bank—Valuation of certain assets limited.
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Without approval by the director no asset shall be carried on the books of the resulting state bank at a valuation higher than that on the books of the merging or converting state or national bank at the time of its last examination by a state examiner or national bank examiner b…
RCW 30A.49.125 Resulting bank has branches inside and outside of state—Application—Definitions—Combination or purchase and assumption requires director's approval—Deposit concentration limits.
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(1) This section is applicable where the resulting bank would have branches inside and outside the state of Washington.(2) As used in this section, unless a different meaning is required by the context, the following words and phrases have the following meanings:(a) "Combination"…
RCW 30A.49.130 Severability—1955 c 33.
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If any provision of this chapter or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the …
RCW 30A.56.010 "Bank" and "directors" defined.
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In this chapter the word "bank" includes savings banks, mutual savings banks, and trust companies, and "directors" shall include trustees.[ 1955 c 33 s 30.56.010. Prior: 1933 c 49 s 2; RRS s 3293-2. Formerly RCW 30.56.010.]
RCW 30A.56.020 Postponement of payments on deposits—Order—Posting.
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The director is hereby empowered, upon the written application of the directors of a bank, if in his or her judgment the circumstances warrant it, to authorize a bank to postpone, for a period of ninety days and for such further period or periods as he or she may deem expedient, …
RCW 30A.56.030 Business during postponement.
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During postponement of payments the bank shall remain open for business and be in charge of its officers, but shall not make any loans, investments or expenditures except such as the director will approve as necessary to conserve its assets and pay the cost of operation. The bank…
RCW 30A.56.040 Deposits received during postponement.
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Deposits received during a period of postponement and for sixty days thereafter shall be kept separate from other assets of the bank, shall not draw interest, shall not be loaned or invested except by depositing with reserve banks or investing in liquid securities approved by the…
RCW 30A.56.050 Plan for reorganization—Conditions.
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At the request of the directors of a bank, the director may propose a plan for its reorganization, if in his or her judgment it would be for the best interests of the bank's creditors and of the community which the bank serves. The plan may contemplate such temporary ratable redu…
RCW 30A.56.060 Approval of plan—Unsecured claims.
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If, within ninety days after the filing of the plan, creditors having unsecured demands against the bank aggregating not less than three-fourths of the amount of the unsecured demands of all its creditors, approved the plan, the director shall have power to declare the plan to be…
RCW 30A.56.070 No dividends until reductions paid.
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A bank for which such a plan has been put into effect shall not declare or pay a dividend or distribute any of its assets among stockholders until there shall have been set aside for and credited ratably to the creditors whose demands were reduced an amount equal to the aggregate…
RCW 30A.56.080 Failure to pay in excess of plan, effect.
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The failure of a bank operating under such a plan to pay to a creditor at any time a sum greater than the plan then requires, shall not constitute a default nor authorize or require the director to take charge of or liquidate the bank nor entitle the creditor to maintain an actio…
RCW 30A.56.090 New bank may be authorized.
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If the net assets of a bank operating under such a plan are sufficient to provide the capital and surplus of a newly organized bank in the same place, the director, under such reasonable conditions as he or she shall prescribe, may approve the incorporation of a new bank and perm…
RCW 30A.56.100 Chapter designated "bank stabilization act."
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This chapter shall be known as the bank stabilization act.[ 1955 c 33 s 30.56.100. Prior: 1933 c 49 s 1; RRS s 3293-1. Formerly RCW 30.56.100.]
RCW 30A.60.010 Examinations—Investigation and assessment of performance record in meeting community credit needs.
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(1) In conducting an examination of a bank chartered under *Title 30 RCW, the director shall investigate and assess the record of performance of the bank in meeting the credit needs of the bank's entire community, including low and moderate-income neighborhoods. The director shal…
RCW 30A.60.020 Approval and disapproval of applications—Consideration of performance record in meeting community credit needs.
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Whenever the director must approve or disapprove of an application for a new branch or satellite facility; for a purchase of assets, a merger, an acquisition or a conversion not required for solvency reasons; or for authority to engage in a business activity, the director shall c…
RCW 30A.60.030 Adoption of rules.
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The director shall adopt all rules necessary to implement sections 2 through 6, chapter 329, Laws of 1985 by January 1, 1986.[ 1994 c 92 s 159; 1985 c 329 s 7. Formerly RCW 30.60.030.]
RCW 30A.60.901 Effective date—1985 c 329.
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This act shall take effect on January 1, 1986, but the director may immediately take such steps as are necessary to ensure that this act is implemented on its effective date.[ 1994 c 92 s 160; 1985 c 329 s 13. Formerly RCW 30.60.901.]
RCW 30A.98.010 Continuation of existing law.
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The provisions of this title insofar as they are substantially the same as statutory provisions repealed by this chapter and relating to the same subject matter, shall be construed as restatements and continuations, and not as new enactments.[ 1955 c 33 s 30.98.010. Formerly RCW …
RCW 30A.98.015 Continuation of existing law.
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The provisions of this title, insofar as they are substantially the same as statutory provisions repealed by chapter 37, Laws of 2014 and relating to the same subject matter, shall be construed as restatements and continuations, and not as new enactments.[ 2014 c 37 s 258.]
RCW 30A.98.020 Title, chapter, section headings not part of law.
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Title headings, chapter headings, and section or subsection headings, as used in this title do not constitute any part of the law.[ 1955 c 33 s 30.98.020. Formerly RCW 30.98.020.]
RCW 30A.98.030 Invalidity of part of title not to affect remainder.
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If any provision of this title, or its application to any person or circumstance is held invalid, the remainder of the title, or the application of the provision to other persons or circumstances is not affected.[ 1955 c 33 s 30.98.030. Formerly RCW 30.98.030.]
RCW 30A.98.040 Prior investments or transactions not affected.
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Nothing in this title shall be construed to affect the legality of investments, made prior to March 10, 1917, or of transactions had before March 10, 1917, pursuant to any provisions of law in force when such investment were made or transactions had. (Adopted from 1917 c 80 § 77.…
RCW 30A.98.045 Prior investments or transactions not affected.
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This title does not affect the legality of investments, made prior to January 5, 2015, or of transactions had before January 5, 2015, pursuant to any provisions of law in force when such investments were made or transactions had.[ 2014 c 37 s 260.]
RCW 30A.98.050 Repeals and saving.
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See 1955 c 33 s 30.98.050.
RCW 30A.98.060 Emergency—1955 c 33.
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This act is necessary for the immediate preservation of the public peace, health and safety, the support of the state government and its existing public institutions, and shall take effect immediately.[ 1955 c 33 s 30.98.060. Formerly RCW 30.98.060.]