RCW 32.08.230
Restrictions and requirements by director.
Any mutual savings bank engaging in any activity contemplated in RCW 32.08.225, whereby it holds or purchases subordinated securities, issues letters of credit to secure a portion of any sale or issue of loans sold or exchanged, or in any manner acts as a partial guarantor or insurer or repurchaser of any loans sold or exchanged, shall do so only in accordance with such reasonable restrictions and requirements as the director shall require and shall report and carry such transactions on its books and records in such manner as the director shall require. In establishing any requirements and restrictions hereunder, the director shall consider the effect the transaction and the reporting thereof will have on the safety and soundness of the mutual savings bank engaging in it.
[ 1994 c 92 § 322; 1981 c 86 § 13.]
NOTES:
Severability—1981 c 86: See note following RCW 32.08.140.
Structure 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.
32.08.030 - 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.
32.08.110 - 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.
32.08.145 - Safe deposit companies.
32.08.148 - Operation of branch outside Washington—Powers and authorities.
32.08.150 - Certificates of deposit.
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.
32.08.225 - Sale, purchase, etc., of interest rate exchange agreements, loans, or interests therein.