Title 30A — Title 30A WASHINGTON COMMERCIAL BANK ACT

18 chapters · 298 sections in this title.

298 sectionsFiltered byTitle 30A

RCW 30A.04.470 Order to refrain from violations or practices—Administrative hearing or judicial review.
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(1) Any administrative hearing provided in RCW 30A.04.450 or 30A.12.042 must be conducted in accordance with chapter 34.05 RCW and held at the place designated by the director, and may be conducted by the department. The hearing shall be private unless the director determines tha…
RCW 30A.04.475 Order to refrain from violations or practices—Jurisdiction of courts in enforcement or issuance of orders, injunctions, or judicial review.
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(1) The director may apply to the superior court of the county of the principal place of business of the bank affected for the enforcement of any effective and outstanding order issued under RCW 30A.04.450, 30A.04.455, 30A.04.465, or 30A.12.042, and the court shall have jurisdict…
RCW 30A.04.500 Fairness in lending act—Short title.
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RCW 30A.04.505 through 30A.04.515 shall be known and may be cited as the "fairness in lending act".[ 2014 c 37 s 142; 1977 ex.s. c 301 s 10. Formerly RCW 30.04.500.]Notes:Unfair practices of financial institutions: RCW 49.60.175.
RCW 30A.04.505 Fairness in lending act—Definitions.
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As used in RCW 30A.04.505 through 30A.04.515:(1) "Financial institution" means any bank, savings bank, credit union, mortgage company, or savings and loan association which operates or has a place of business in this state whether regulated by the state or federal government.(2) …
RCW 30A.04.510 Fairness in lending act—Unlawful practices.
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Subject to RCW 30A.04.515, it shall be unlawful for any financial institution, in processing any application for a loan to be secured by a single-family residence to:(1) Deny or vary the terms of a loan on the basis that a specific parcel of real estate offered as security is loc…
RCW 30A.04.515 Fairness in lending act—Sound underwriting practices not precluded.
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Nothing contained in RCW 30A.04.505 through [and] 30A.04.510 shall preclude a financial institution from considering sound underwriting practices in processing any application for a loan to any person. Such practices shall include the following:(1) The willingness and the financi…
RCW 30A.04.550 Reorganization as subsidiary of bank holding company—Authority.
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A state banking corporation may, with the approval of the director and the affirmative vote of the shareholders of such corporation owning at least two-thirds of each class of shares entitled to vote under the terms of such shares, be reorganized to become a subsidiary of a bank …
RCW 30A.04.555 Reorganization as subsidiary of bank holding company—Procedure.
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A reorganization authorized under RCW 30A.04.550 shall be carried out in the following manner:(1) A plan of reorganization specifying the manner in which the reorganization shall be carried out must be approved by a majority of the entire board of directors of the banking corpora…
RCW 30A.04.560 Reorganization as subsidiary of bank holding company—Dissenter's rights—Conditions.
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If the shareholders approve the reorganization by a two-thirds vote of each class of shares entitled to vote under the terms of such shares, and if it is thereafter approved by the director and consummated, any shareholder of the banking corporation who has voted shares against s…
RCW 30A.04.565 Reorganization as subsidiary of bank holding company—Valuation of shares of dissenting shareholders.
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The value of the shares of a dissenting shareholder who has properly perfected dissenter's rights shall be ascertained as of the day prior to the date of the shareholder action approving such reorganization by three appraisers, one to be selected by the owners of two-thirds of th…
RCW 30A.04.570 Reorganization as subsidiary of bank holding company—Approval of director—Certificate of reorganization—Exchange of shares.
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The reorganization and exchange authorized by RCW 30A.04.550 through 30A.04.570 shall become effective as follows:(1) If the board of directors and shareholders of the state banking corporation and the board of directors of the acquiring corporation approve the plan of reorganiza…
RCW 30A.04.575 Public hearing prior to approval of reorganization—Request.
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Prior to the approval of the reorganization, the director, upon request of the board of directors of the bank, or not less than ten percent of its shareholders, shall hold a public hearing at which bank shareholders and other interested parties may appear. Notice of the public he…
RCW 30A.04.600 Shareholders—Actions authorized without meetings—Written consent.
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Any action required by this title to be taken at a meeting of the shareholders of a corporation, or any action that may be taken at a meeting of the shareholders, may be taken without a meeting if a consent in writing, setting forth the action so taken, is signed by all of the sh…
RCW 30A.04.605 Directors, committees—Actions authorized without meetings—Written consent.
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Unless otherwise provided by the articles of incorporation or bylaws, any action required by this title to be taken at a meeting of the directors of a bank or trust company, or any action which may be taken at any meeting of the directors or of a committee, may be taken without a…
RCW 30A.04.610 Directors, committees—Meetings authorized by conference telephone or similar communications equipment.
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Except as may be otherwise restricted by the articles of incorporation or bylaws, members of the board of directors or any committee designated by the board of directors may participate in a meeting of the board or committee by means of a conference telephone or similar communica…
RCW 30A.04.650 Automated teller machines and night depositories security.
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Chapter 19.174 RCW applies to automated teller machines and night depositories regulated under this title.[ 1993 c 324 s 10. Formerly RCW 30.04.650.]Notes:Effective date—1993 c 324: See RCW 19.174.900.
RCW 30A.04.902 Effective date—2014 c 37.
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This act takes effect January 5, 2015. The director of financial institutions may immediately take such steps as are necessary to ensure that this act is implemented on its effective date.[ 2014 c 37 s 5.]
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…
RCW 30A.12.010 Directors—Election—Meetings—Oath—Vacancies.
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Every bank shall be managed by not less than five directors, who need not be residents of this state. Directors shall be elected by the stockholders and hold office for such term as is specified in the articles of incorporation, not exceeding three years, and until their successo…
RCW 30A.12.020 Meetings, where held—Corporate records.
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All meetings of the stockholders of any bank, except organization meetings and meetings held with the consent of all stockholders, must be held in the county in which the head office or any branch of the corporation is located. Meetings of the directors of any bank may be held ei…
RCW 30A.12.025 Rights of shareholder to examine and make extracts of records—Penalty—Financial statements.
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Any person who has been a shareholder of record at least six months immediately preceding his or her demand or who is the holder of record of at least five percent of all the outstanding shares of a bank, upon written demand stating the purpose thereof, has the right to examine, …
RCW 30A.12.030 Fidelity bonds—Casualty insurance.
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(1) Except as otherwise permitted by the director under specified terms and conditions, the board of directors of each bank shall direct and require good and sufficient surety company fidelity bonds issued by a company authorized to engage in the insurance business in the state o…
RCW 30A.12.040 Removal of a board director, officer, or employee—Prohibiting participation in bank or holding company affairs—Grounds—Notice.
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(1) The director may issue and serve a board director, officer, or employee of a bank with written notice of intent to remove the person from office or employment or to prohibit the person from participating in the conduct of the affairs of the bank or any other depository instit…
RCW 30A.12.0401 Written notice of charges under RCW 30A.12.042.
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The director may serve written notice of charges under RCW 30A.12.040 to suspend a person from further participation in any manner in the conduct of the affairs of a bank or holding company, if the director determines that such an action is necessary for the protection of the ban…
RCW 30A.12.042 Written notice of charges under RCW 30A.12.042.
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(1) A notice of an intention to remove a director, officer, or employee from office or to prohibit his or her participation in the conduct of the affairs of a bank or holding company shall contain a statement of the facts which constitute grounds therefor and shall fix a time and…
RCW 30A.12.044 Removal of one or more directors of a bank or holding company—Effect upon quorum—Procedure.
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If at any time because of the removal of one or more directors under this chapter there shall be on the board of directors of a bank or holding company less than a quorum of directors, all powers and functions vested in or exercisable by the board shall vest in and be exercisable…
RCW 30A.12.045 Removal of delinquent officer or employee or prohibiting participation in bank affairs—Administrative hearing—Judicial review.
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See RCW 30A.04.470.
RCW 30A.12.046 Removal of delinquent officer or employee or prohibiting participation in bank affairs—Jurisdiction of courts in enforcement or issuance of orders, injunctions or judicial review.
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See RCW 30A.04.475.