RCW 19.16.245
Financial statement.
No licensee shall receive any money from any debtor as a result of the collection of any claim until he, she, or it shall have submitted a financial statement showing the assets and liabilities of the licensee truly reflecting that the licensee's net worth is not less than the sum of seven thousand five hundred dollars, in cash or its equivalent, of which not less than five thousand dollars shall be deposited in a bank, available for the use of the licensee's business. Any money so collected shall be subject to the provisions of RCW 19.16.430(2). The financial statement shall be sworn to by the licensee, if the licensee is an individual, or by a partner, officer, or manager in its behalf if the licensee is a partnership, corporation, or unincorporated association. The information contained in the financial statement shall be confidential and not a public record, but is admissible in evidence at any hearing held, or in any action instituted in a court of competent jurisdiction, pursuant to the provisions of this chapter: PROVIDED, That this section shall not apply to those persons holding a valid license issued pursuant to this chapter on July 16, 1973.
[ 2011 c 336 § 519; 1973 1st ex.s. c 20 § 9.]
Structure Revised Code of Washington
Title 19 - Business Regulations—Miscellaneous
Chapter 19.16 - Collection Agencies.
19.16.120 - Unprofessional conduct—Support order, noncompliance.
19.16.130 - License—Application—Form—Contents.
19.16.140 - License—Application—Fees—Exemptions.
19.16.150 - Branch office certificate required.
19.16.160 - License and branch office certificate—Form—Contents—Display.
19.16.170 - Procedure upon change of name or business location.
19.16.180 - Assignability of license or branch office certificate.
19.16.190 - Surety bond requirements—Cash deposit or securities—Exception.
19.16.200 - Action on bond, cash deposit or securities.
19.16.210 - Accounting and payments by licensee to customer.
19.16.220 - Accounting and payments by customer to licensee.
19.16.230 - Licensee—Business office—Records to be kept.
19.16.240 - Licensee—Trust fund account—Exception.
19.16.245 - Financial statement.
19.16.250 - Prohibited practices.
19.16.260 - Licensing prerequisite to suit—Debt buyer—Prohibited acts.
19.16.270 - Presumption of validity of assignment.
19.16.280 - Board created—Composition of board—Qualification of members.
19.16.290 - Board—Initial members—Terms—Oath—Removal.
19.16.300 - Board meetings—Quorum—Effect of vacancy.
19.16.310 - Board—Compensation—Reimbursement of travel expenses.
19.16.320 - Board—Territorial scope of operations.
19.16.330 - Board—Immunity from suit.
19.16.351 - Additional powers and duties of board.
19.16.390 - Personal service of process outside state.
19.16.410 - Rules, orders, decisions, etc.
19.16.420 - Copy of this chapter, rules and regulations available to licensee.
19.16.430 - Violations—Operating agency without a license—Penalty—Return of fees or compensation.
19.16.450 - Violation of RCW 19.16.250 or 19.16.260—Additional penalty.
19.16.460 - Violations may be enjoined.
19.16.470 - Violations—Assurance of discontinuance—Effect.
19.16.480 - Violation of injunction—Civil penalty.
19.16.500 - Public bodies may retain collection agencies to collect public debts—Fees.
19.16.510 - Uniform regulation of business and professions act.
19.16.900 - Provisions cumulative—Violation of RCW 19.16.250 deemed civil.
19.16.930 - Effective date—1971 ex.s. c 253.
19.16.960 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.