30.38.050 - Branch of out-of-state state bank -- Violations -- Unsafe and unsound operations -- Enforcement actions -- Notice to home state regulator. - Washington Statutes

Branch of out-of-state state bank — Violations — Unsafe and unsound operations — Enforcement actions — Notice to home state regulator.

If the director determines that a branch maintained by an out-of-state state bank in this state is being operated in violation of the laws of this state, or that the branch is being operated in an unsafe and unsound manner, the director has the authority to take all enforcement actions he or she would be empowered to take if the branch were a Washington state bank. However, the director shall promptly give notice to the home state regulator of each enforcement action taken against an out-of-state state bank and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.

[1996 c 2 § 15.]