Washington § 31.24.073 Aggregate limit on loans and investments—Single borrower or business.

Washington Statutes

§ 31.24.073 — Aggregate limit on loans and investments—Single borrower or business.

Washington § 31.24.073

Title 31MISCELLANEOUS LOAN AGENCIES

Ch. 31.24INDUSTRIAL DEVELOPMENT CORPORATIONS

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Bluebook

Wash. Rev. Code § 31.24.073 (2026).

Text

Unless part of an initial or amended business plan approved by the director, or as may otherwise be provided by rule adopted pursuant to RCW 31.24.120 (3), the aggregate limit of qualified loans, qualified investment, and partial funding of qualified participation loans by a business development company to a single borrower or business, in relation to a business development project, shall not exceed twenty-five percent of the combined capital, surplus, and undivided profits of the business development company.

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Unless part of an initial or amended business plan approved by the director, or as may otherwise be provided by rule adopted pursuant to RCW 31.24.120 (3), the aggregate limit of qualified loans, qualified investment, and partial funding of qualified participation loans by a business development company to a single borrower or business, in relation to a business development project, shall not exceed twenty-five percent of the combined capital, surplus, and undivided profits of the business development company.