RCW 30A.12.120
Loans to officers or employees from trust funds—Penalty.
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 knowingly violates this section, or who aids or abets any other person in any such violation, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2003 c 53 § 188; 1955 c 33 § 30.12.120. Prior: 1917 c 80 § 53; RRS § 3260. Formerly RCW 30.12.120.]
NOTES:
Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.
Structure Revised Code of Washington
Title 30A - Washington Commercial Bank Act
Chapter 30A.12 - Officers, Employees, and Stockholders.
30A.12.010 - Directors—Election—Meetings—Oath—Vacancies.
30A.12.020 - Meetings, where held—Corporate records.
30A.12.030 - Fidelity bonds—Casualty insurance.
30A.12.0401 - Written notice of charges under RCW 30A.12.042.
30A.12.060 - Loans to officers or employees.
30A.12.070 - Unsafe loans and discounts to directors or officers.
30A.12.090 - False entries, statements, etc.—Penalty.
30A.12.100 - Destroying or secreting records—Penalty.
30A.12.110 - Commission, etc., for procuring loan—Penalty.
30A.12.115 - Transactions in which director or officer has an interest.
30A.12.120 - Loans to officers or employees from trust funds—Penalty.
30A.12.130 - Trust company as legal representative—Oath by officer.
30A.12.180 - Levy of assessments.
30A.12.190 - General penalty—Effect of conviction.
30A.12.230 - Immunity of shareholders of bank insured by the federal deposit insurance corporation.