30.12.240 - Violations -- Director liability. - Washington Statutes

Violations — Director liability.

If the directors of any bank, trust company, or holding company shall knowingly violate, or knowingly permit any of the officers, agents, or employees of the bank or trust company to violate any of the provisions of this title or any lawful regulation or directive of the director, and if the directors are aware that such facts and circumstances constitute such violations, then each director who participated in or assented to the violation is personally and individually liable for all damages which the state or any insurer of the deposits of the bank or trust company, or any trust beneficiary of the trust company, sustains due to the violation.

[2010 c 88 § 29; 1994 c 92 § 73; 1989 c 180 § 7.]

Notes: Effective date -- 2010 c 88: See RCW 32.50.900.