Revised Code of Washington
Chapter 30A.04 - General Provisions.
30A.04.020 - Use of words indicating bank or trust company—Penalty.

RCW 30A.04.020
Use of words indicating bank or trust company—Penalty.

(1) The name of every bank shall contain the word "bank" and the name of every trust company shall contain the word "trust," or the word "bank." Except as provided in RCW 33.08.030 or as otherwise authorized by this section or approved by the director, only a national bank, federal savings bank, a bank or trust company, savings bank under Title 32 RCW, bank holding company or financial holding company, a holding company authorized by this title or Title 32 RCW, or a foreign or alien corporation or other legal person authorized by this title to do so, shall:
(a) Use as a part of his or her or its name or other business designation, as a prominent syllable within a word comprising all or a portion of its name or other business designation, or in any manner as if connected with his or her or its business or place of business any of the following words or the plural thereof, to wit: "bank," "banking," "banker," "bancorporation," "bancorp," or "trust," or any foreign language designations thereof, including, by way of example, "banco" or "banque."
(b) Use any sign, logo, or marketing message, in any media, or use any letterhead, billhead, note, receipt, certificate, blank, form, or any written, printed, electronic or internet-based instrument or material representation whatsoever, directly or indirectly indicating that the business of such person is that of a bank or trust company.
(2) A foreign corporation or other foreign domiciled legal person, whose name contains the words "bank," "banker," "banking," "bancorporation," "bancorp," or "trust," or the foreign language equivalent thereof, or whose articles of incorporation empower it to engage in banking or to engage in a trust business, may not engage in banking or in a trust business in this state unless the corporation or other legal person (a) is expressly authorized to do so under this title, under federal law, or by the director, and (b) complies with all applicable requirements of Washington state law regarding foreign corporations and other foreign legal persons. If an activity would not constitute "transacting business" within the meaning of RCW 23B.15.010(1) or chapter 23B.18 RCW, then the activity shall not constitute banking or engaging in a trust business. Nothing in this subsection shall prevent operations by an alien bank in compliance with chapter 30A.42 RCW.
(3) This section shall not prevent a lender approved by the United States secretary of housing and urban development for participation in any mortgage insurance program under the National Housing Act from using the words "mortgage banker" or "mortgage banking" in the conduct of its business, but only if both words are used together in either of the forms which appear in quotations in this sentence.
(4) Any individual or legal person, or director, officer, or manager of such legal person, who knowingly violates any provision of this section shall be guilty of a gross misdemeanor.

[ 2014 c 37 § 103; 2010 c 88 § 4; 1994 c 256 § 32; 1986 c 284 § 15; 1983 c 42 § 2; 1981 c 88 § 1; 1955 c 33 § 30.04.020. Prior: 1925 ex.s. c 114 § 1; 1917 c 80 § 18; RRS § 3225. Formerly RCW 30.04.020.]
NOTES:

Effective date—2010 c 88: See RCW 32.50.900.


Findings—Construction—1994 c 256: See RCW 43.320.007.

Structure Revised Code of Washington

Revised Code of Washington

Title 30A - Washington Commercial Bank Act

Chapter 30A.04 - General Provisions.

30A.04.002 - Short title.

30A.04.005 - Legislative declarations.

30A.04.007 - Notice—Use of internet—Rules.

30A.04.010 - Definitions.

30A.04.017 - Director's subpoenas—Unauthorized banking activity.

30A.04.020 - Use of words indicating bank or trust company—Penalty.

30A.04.025 - Financial institutions—Loan charges—Out-of-state national banks.

30A.04.030 - Rules—Administration and interpretation of title.

30A.04.045 - Director—Powers under chapter 19.144 RCW.

30A.04.050 - Duty to comply—Violations—Penalty.

30A.04.060 - Examinations directed—Cooperative agreements and actions.

30A.04.070 - Costs of examination, filing, and other service fees—Nondirect expenses.

30A.04.075 - Examination reports and information—Confidentiality—Disclosure—Penalty.

30A.04.111 - Limit on loans and extensions of credit to one person—Exceptions—Definitions—Rules—Nonconforming loans and extensions of credit.

30A.04.112 - "Loans or obligations" and "liabilities" limited for purposes of RCW 30.04.111.

30A.04.120 - Loans on own stock prohibited—Shares of other corporations.

30A.04.125 - Investment in corporations—Authorized businesses.

30A.04.127 - Formation, incorporation, or investment in corporations or other entities authorized—Approval—Exception.

30A.04.129 - Investment in obligations issued or guaranteed by multilateral development bank.

30A.04.130 - Defaulted debts, judgments to be charged off—Valuation of assets.

30A.04.140 - Pledge of securities or assets prohibited—Exceptions.

30A.04.180 - Dividends.

30A.04.210 - Real estate holdings.

30A.04.212 - Real property and improvements thereon.

30A.04.214 - Qualifying community investments.

30A.04.215 - Engaging in other business activities.

30A.04.217 - Additional powers of a bank—Powers and authorities of savings bank—Definition—Restrictions.

30A.04.220 - Corporations existing under former laws.

30A.04.225 - Contributions and gifts.

30A.04.230 - Authority of corporation or association to acquire stock of bank or national banking association.

30A.04.232 - Additional authority of out-of-state holding company to acquire stock or assets of bank or national banking association.

30A.04.238 - Purchase of own capital stock authorized.

30A.04.240 - Trust business to be kept separate—Authorized deposit of securities.

30A.04.260 - Legal services, advertising of—Penalty.

30A.04.280 - Compliance enjoined—Banking, trust business, branches—Director's authority—Rules.

30A.04.285 - Director's approval of a branch—Satisfactory financial condition—Affiliated commercial locations.

30A.04.295 - Agency agreements—Written notice to director.

30A.04.300 - Foreign branch banks.

30A.04.330 - Saturday closing authorized.

30A.04.375 - Investment in stock, participation certificates, and other evidences of participation.

30A.04.380 - Investment in paid-in capital stock and surplus of banks or corporations engaged in international or foreign banking.

30A.04.390 - Acquisition of stock of banks organized under laws of foreign country, etc.

30A.04.395 - Continuing authority for investments.

30A.04.400 - Bank acquisition or control—Definitions.

30A.04.405 - Bank acquisition or control—Notice or application—Registration statement—Violations—Penalties.

30A.04.410 - Bank acquisition or control—Disapproval by director—Change of officers.

30A.04.450 - Notice of charges—Reasons for issuance—Contents—Hearing—Cease and desist order.

30A.04.455 - Temporary cease and desist order—Reasons for issuance.

30A.04.460 - Temporary cease and desist order—Injunction to set aside, limit, or suspend temporary order.

30A.04.465 - Violations or unsafe or unsound practices—Injunction to enforce temporary order.

30A.04.470 - Order to refrain from violations or practices—Administrative hearing or judicial review.

30A.04.475 - Order to refrain from violations or practices—Jurisdiction of courts in enforcement or issuance of orders, injunctions, or judicial review.

30A.04.500 - Fairness in lending act—Short title.

30A.04.505 - Fairness in lending act—Definitions.

30A.04.510 - Fairness in lending act—Unlawful practices.

30A.04.515 - Fairness in lending act—Sound underwriting practices not precluded.

30A.04.550 - Reorganization as subsidiary of bank holding company—Authority.

30A.04.555 - Reorganization as subsidiary of bank holding company—Procedure.

30A.04.560 - Reorganization as subsidiary of bank holding company—Dissenter's rights—Conditions.

30A.04.565 - Reorganization as subsidiary of bank holding company—Valuation of shares of dissenting shareholders.

30A.04.570 - Reorganization as subsidiary of bank holding company—Approval of director—Certificate of reorganization—Exchange of shares.

30A.04.575 - Public hearing prior to approval of reorganization—Request.

30A.04.600 - Shareholders—Actions authorized without meetings—Written consent.

30A.04.605 - Directors, committees—Actions authorized without meetings—Written consent.

30A.04.610 - Directors, committees—Meetings authorized by conference telephone or similar communications equipment.

30A.04.650 - Automated teller machines and night depositories security.

30A.04.902 - Effective date—2014 c 37.