Washington § 30A.12.070 Unsafe loans and discounts to directors or officers.

Washington Statutes

§ 30A.12.070 — Unsafe loans and discounts to directors or officers.

Washington § 30A.12.070

Title 30AWASHINGTON COMMERCIAL BANK ACT

Ch. 30A.12OFFICERS, EMPLOYEES, AND STOCKHOLDERS

This text of Washington § 30A.12.070 (Unsafe loans and discounts to directors or officers.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 30A.12.070 (2026).

Text

The director may at any time, if in his or her judgment excessive, unsafe, or improvident loans are being made or are likely to be made by a bank to any of its directors or officers or the directors or officers of its holding company, or to any corporation, copartnership or association of which such director is a stockholder, member, co-owner, or in which such director is financially interested, or like discounts of the notes or obligations of any such director, corporation, copartnership or association are being made or are likely to be made, require such bank to submit to him or her for approval all proposed loans to, or discounts of the note or obligation of, any such director, officer, corporation, copartnership or association, and thereafter such proposed loans and discounts shall be 

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The director may at any time, if in his or her judgment excessive, unsafe, or improvident loans are being made or are likely to be made by a bank to any of its directors or officers or the directors or officers of its holding company, or to any corporation, copartnership or association of which such director is a stockholder, member, co-owner, or in which such director is financially interested, or like discounts of the notes or obligations of any such director, corporation, copartnership or association are being made or are likely to be made, require such bank to submit to him or her for approval all proposed loans to, or discounts of the note or obligation of, any such director, officer, corporation, copartnership or association, and thereafter such proposed loans and discounts shall be reported upon such forms and with such information concerning the desirability and safety of such loans or discounts and of the responsibility and financial condition of the person, corporation, copartnership or association to whom such loan is to be made or whose note or obligation is to be discounted and of the amount and value of any collateral that may be offered as security therefor, as the director may require, and no such loan or discount shall be made without his or her written approval thereon.

Effective date — 2010 c 88: See RCW 32.50.900 .

Legislative History

[2014 c 37 s 180;2010 c 88 s 25;1994 c 92 s 70;1955 c 33 s 30.12.070. Prior: 1947 c 147 s 1, part; 1933 c 42 s 22, part; 1917 c 80 s 52, part; Rem. Supp. 1947 s 3259, part. Formerly RCW30.12.070.]