Revised Code of Washington
Chapter 43.320 - Department of Financial Institutions.
43.320.115 - Securities prosecution fund.

RCW 43.320.115
Securities prosecution fund.

(1) The securities prosecution fund is created in the custody of the state treasurer and shall consist of all fines received by the division of securities under RCW 21.20.400(2), 21.20.110, and 21.20.395 and all undistributed funds from orders of disgorgement and restitution under RCW 21.20.110(8) and 21.20.390(6). No appropriation is required to permit expenditures from this fund, but the account is subject to allotment procedures under chapter 43.88 RCW.
(2) Expenditures from this fund may be used solely for administering the fund and for payment of costs, expenses, and charges incurred in the preparation, initiation, and prosecution of criminal charges for violations of chapters 21.20, 21.30, 19.100, and 19.110 RCW. Only the director or the director's designee may authorize expenditures from the fund.
(3) Applications for fund expenditures must be submitted by the attorney general or the proper prosecuting attorney to the director. The application must clearly identify the alleged criminal violations identified in subsection (2) of this section and indicate the purpose for which the funds will be used. The application must also certify that any funds received will be expended only for the purpose requested. Funding requests must be approved by the director prior to any expenditure being incurred by the requesting attorney general or prosecuting attorney. At the conclusion of the prosecution, the attorney general or prosecuting attorney shall provide the director with an accounting of fund expenditures, a summary of the case, and certify his or her compliance with any rules adopted by the director relating to the administration of the fund.
(4) If the balance of the securities prosecution fund reaches three hundred fifty thousand dollars, all fines received by the division of securities under RCW 21.20.400(2), 21.20.110, and 21.20.395 and all undistributed funds from orders of disgorgement and restitution under RCW 21.20.110(8) and 21.20.390(6) shall be deposited in the financial services regulation fund until such time as the balance in the fund falls below three hundred fifty thousand dollars, at which time the fines received by the division of securities under RCW 21.20.400(2), 21.20.110, and 21.20.395 and all undistributed funds from orders of disgorgement and restitution under RCW 21.20.110(8) and 21.20.390(6) shall be deposited to the securities prosecution fund until balance in the fund once again reaches three hundred fifty thousand dollars.

[ 2003 c 288 § 2.]

Structure Revised Code of Washington

Revised Code of Washington

Title 43 - State Government—Executive

Chapter 43.320 - Department of Financial Institutions.

43.320.005 - Finding.

43.320.007 - Regulatory reform—Findings—Construction—1994 c 256.

43.320.010 - Department created.

43.320.011 - Department of general administration and department of licensing powers and duties transferred.

43.320.017 - Collective bargaining agreements.

43.320.020 - Director—Salary—Powers and duties—Examiners, assistants, personnel.

43.320.030 - Director—Qualifications—Conflicts of interest.

43.320.040 - Director's authority to adopt rules.

43.320.045 - Director's duties—Dissemination of information.

43.320.050 - Assistant directors—Divisions—"FDIC" defined.

43.320.060 - Deputization of assistant to exercise powers and duties of director.

43.320.070 - Oath of examiners—Liability for acts performed in good faith.

43.320.080 - Director to maintain office in Olympia—Record of receipts and disbursements—Deposit of funds.

43.320.090 - Borrowing money by director, deputy, or employee—Penalty.

43.320.100 - Annual report—Contents.

43.320.110 - Financial services regulation fund.

43.320.115 - Securities prosecution fund.

43.320.140 - Mortgage lending fraud prosecution account—Created.

43.320.150 - Financial literacy and education programs.

43.320.1501 - Financial literacy—Report to governor and legislature.

43.320.180 - Review of retirement account products proposed for inclusion in the Washington small business retirement marketplace.

43.320.190 - Confidential information—Public records act exemption.

43.320.500 - Financial institution service providers—Definitions.

43.320.510 - Financial institution service providers—Examination.

43.320.520 - Financial institution service providers—Reports of examination from other agencies.

43.320.530 - Financial institution service providers—Confidentiality of reports of examination.

43.320.540 - Financial institution service providers—Examination and information sharing agreements.

43.320.550 - Financial institution service providers—Enforcement.

43.320.560 - Financial institution service providers—Power of director—Rule making.

43.320.900 - Effective date—1993 c 472.