Washington § 32.20.460 Low-cost housing—Factory built housing—Mobile homes.

Washington Statutes

§ 32.20.460 — Low-cost housing—Factory built housing—Mobile homes.

Washington § 32.20.460

Title 32WASHINGTON SAVINGS BANK ACT

Ch. 32.20INVESTMENTS

This text of Washington § 32.20.460 (Low-cost housing—Factory built housing—Mobile homes.) 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 § 32.20.460 (2026).

Text

In addition to the portions of its funds permitted to be invested in real estate loans under RCW 32.20.410 , a mutual savings bank may invest not to exceed fifteen percent of its funds in loans and investments as follows:

(1)Loans for the rehabilitation, remodeling, or expansion of existing housing.

(2)Loans in connection with, or participation in:

(a)Housing programs of any agency of federal, state, or local government; and

(b)Housing programs of any nonprofit, union, community, public, or quasi-public corporation or entity. Such housing must be made available to all without regard to race, creed, sex, color, or national origin.

(3)Loans for purchasing or constructing factory built housing, including but not limited to mobile homes. The bank shall determine the amount, security

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In addition to the portions of its funds permitted to be invested in real estate loans under RCW 32.20.410 , a mutual savings bank may invest not to exceed fifteen percent of its funds in loans and investments as follows:

(1) Loans for the rehabilitation, remodeling, or expansion of existing housing.

(2) Loans in connection with, or participation in:

(a) Housing programs of any agency of federal, state, or local government; and

(b) Housing programs of any nonprofit, union, community, public, or quasi-public corporation or entity.

Such housing must be made available to all without regard to race, creed, sex, color, or national origin.

(3) Loans for purchasing or constructing factory built housing, including but not limited to mobile homes. The bank shall determine the amount, security, and repayment basis which it considers prudent for the loans.

(4) In mobile home chattel paper which finances the acquisition of inventory by a mobile home dealer if the inventory is to be held for sale in the ordinary course of business by the mobile home dealer, the monetary obligation evidenced by such chattel paper is the obligation of the mobile home dealer and the amount thereof does not exceed the amount allowed to be loaned on such mobile homes under subsection (3) of this section.

Severability — 1981 c 86: See note following RCW 32.08.140 .

Construction — 1973 1st ex.s. c 31: See RCW 32.20.500 .