Revised Code of Washington
Chapter 32.08 - Organization and Powers.
32.08.040 - Examination and action by director.

RCW 32.08.040
Examination and action by director.

When any such certificate has been filed for examination the director shall thereupon ascertain from the best source of information at his or her command, and by such investigation as he or she may deem necessary, whether the character, responsibility, and general fitness of the person or persons named in such certificate are such as to command confidence and warrant belief that the business of the proposed bank will be honestly and efficiently conducted in accordance with the intent and purpose of this title, and whether the public convenience and advantage will be promoted by allowing such proposed bank to be incorporated and engage in business, and whether greater convenience and access to a savings bank would be afforded to any considerable number of depositors by opening a mutual savings bank in the place designated, whether the population in the neighborhood of such place, and in the surrounding country, affords a reasonable promise of adequate support for the proposed bank, and whether the contributions to the initial guaranty fund and expense fund have been paid in cash. After the director has satisfied himself or herself by such investigation whether it is expedient and desirable to permit such proposed bank to be incorporated and engage in business, he or she shall within sixty days after the date of the filing of the certificate for examination indorse upon each of the triplicates thereof over his or her official signature the word "approved" or the word "refused," with the date of such indorsement. In case of refusal he or she shall forthwith return one of the triplicates so indorsed to the proposed incorporators from whom the certificate was received.

[ 1994 c 92 § 310; 1955 c 13 § 32.08.040. Prior: 1915 c 175 § 4, part; RRS § 3316, part.]

Structure Revised Code of Washington

Revised Code of Washington

Title 32 - Washington Savings Bank Act

Chapter 32.08 - Organization and Powers.

32.08.010 - Authority to organize—Incorporators—Certificate.

32.08.020 - Notice of intention.

32.08.025 - Limited liability company—Organization or conversion—Approval of director—Conditions—Application of chapter 25.15 RCW—Definitions.

32.08.030 - Submission of certificate—Proof of service of notice.

32.08.040 - Examination and action by director.

32.08.050 - Appeal from adverse decision.

32.08.060 - Procedure upon approval.

32.08.061 - Extension of period of existence—Procedure.

32.08.070 - Authorization certificate.

32.08.080 - Conditions precedent to reception of deposits.

32.08.090 - Expense fund—Agreement to contribute further—Security.

32.08.100 - Guaranty fund.

32.08.110 - Guaranty fund—Purpose.

32.08.115 - Guaranty fund—Payment of interest and dividends—Legislative declaration.

32.08.116 - Guaranty fund—Payment of interest and dividends—When authorized.

32.08.120 - Guaranty fund—Replenishment—Dividends.

32.08.130 - Reimbursement fund.

32.08.140 - Powers of bank.

32.08.142 - Additional powers of savings bank—Powers of federal mutual savings bank—Definition—Restrictions.

32.08.145 - Safe deposit companies.

32.08.148 - Operation of branch outside Washington—Powers and authorities.

32.08.150 - Certificates of deposit.

32.08.153 - Additional powers of savings bank—Powers and authorities of national banks on July 28, 1985, or a subsequent date not later than July 28, 2013—Definition—Restrictions.

32.08.157 - Additional powers—Powers and authorities of banks.

32.08.160 - Writing of fire insurance restricted.

32.08.170 - Effect of failure to organize or commence business.

32.08.180 - Extension of existence.

32.08.190 - May borrow from home loan bank.

32.08.210 - Power to act as trustee—Authorized trusts—Limitations—Application to act as trustee, fee—Approval or refusal of application—Right of appeal—Use of word "trust."

32.08.215 - Power to act as trustee for common trust funds under multiple trust agreements—Conditions.

32.08.220 - Findings—Purpose.

32.08.225 - Sale, purchase, etc., of interest rate exchange agreements, loans, or interests therein.

32.08.230 - Restrictions and requirements by director.