Washington § 30A.60.020 Approval and disapproval of applications—Consideration of performance record in meeting community credit needs.

Washington Statutes

§ 30A.60.020 — Approval and disapproval of applications—Consideration of performance record in meeting community credit needs.

Washington § 30A.60.020

Title 30AWASHINGTON COMMERCIAL BANK ACT

Ch. 30A.60COMMUNITY CREDIT NEEDS

This text of Washington § 30A.60.020 (Approval and disapproval of applications—Consideration of performance record in meeting community credit needs.) 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.60.020 (2026).

Text

Whenever the director must approve or disapprove of an application for a new branch or satellite facility; for a purchase of assets, a merger, an acquisition or a conversion not required for solvency reasons; or for authority to engage in a business activity, the director shall consider, among other factors, the record of performance of the applicant in helping to meet the credit needs of the applicant's entire community, including low and moderate-income neighborhoods. Assessment of an applicant's record of performance may be the basis for denying an application.

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Whenever the director must approve or disapprove of an application for a new branch or satellite facility; for a purchase of assets, a merger, an acquisition or a conversion not required for solvency reasons; or for authority to engage in a business activity, the director shall consider, among other factors, the record of performance of the applicant in helping to meet the credit needs of the applicant's entire community, including low and moderate-income neighborhoods. Assessment of an applicant's record of performance may be the basis for denying an application.