Washington § 38.42.110 Restructure of business loan interest rate.

Washington Statutes

§ 38.42.110 — Restructure of business loan interest rate.

Washington § 38.42.110

Title 38MILITIA AND MILITARY AFFAIRS

Ch. 38.42SERVICE MEMBERS' CIVIL RELIEF

This text of Washington § 38.42.110 (Restructure of business loan interest rate.) 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 § 38.42.110 (2026).

Text

(1)Upon the request of a service member with a qualifying business loan, the financial institution must restructure the interest rate of the loan to the equivalent provisions in the federal servicemembers civil relief act (50 U.S.C. App. 501 et seq.). The service member must notify the institution at least five days prior to the beginning of military service and submit official documentation that substantiates their eligibility for the protections of this chapter.

(2)This section applies only to loans with an outstanding balance of less than one hundred thousand dollars at the time the service member is called to military service.

(3)This section applies only to business loans executed on or after January 1, 2007.

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(1) Upon the request of a service member with a qualifying business loan, the financial institution must restructure the interest rate of the loan to the equivalent provisions in the federal servicemembers civil relief act (50 U.S.C. App. 501 et seq.). The service member must notify the institution at least five days prior to the beginning of military service and submit official documentation that substantiates their eligibility for the protections of this chapter.

(2) This section applies only to loans with an outstanding balance of less than one hundred thousand dollars at the time the service member is called to military service.

(3) This section applies only to business loans executed on or after January 1, 2007.