Revised Code of Washington
Chapter 30A.12 - Officers, Employees, and Stockholders.
30A.12.240 - Violations—Director liability.

RCW 30A.12.240
Violations—Director liability.

If the directors of any bank or holding company shall knowingly violate, or knowingly permit any of the officers, agents, or employees of the bank to violate any of the provisions of this title or any lawful regulation or directive of the director, and if the directors are aware that such facts and circumstances constitute such violations, then each director who participated in or assented to the violation is personally and individually liable for all damages which the state or any insurer of the deposits of the bank sustains due to the violation.

[ 2014 c 37 § 188; 2010 c 88 § 29; 1994 c 92 § 73; 1989 c 180 § 7. Formerly RCW 30.12.240.]
NOTES:

Effective date—2010 c 88: See RCW 32.50.900.

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Structure Revised Code of Washington

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.12.025 - Rights of shareholder to examine and make extracts of records—Penalty—Financial statements.

30A.12.030 - Fidelity bonds—Casualty insurance.

30A.12.040 - Removal of a board director, officer, or employee—Prohibiting participation in bank or holding company affairs—Grounds—Notice.

30A.12.0401 - Written notice of charges under RCW 30A.12.042.

30A.12.042 - Removal of a director, officer, or employee or prohibiting participation in bank or holding company affairs—Notice contents—Hearing—Order of removal or prohibition.