30.42.010 - Purpose. - Washington Statutes

Purpose.

The purpose of this chapter is to establish a legal and regulatory framework for operation by alien banks in the state of Washington that will:

     (1) Create a financial climate which will benefit the economy of the state of Washington;

     (2) Provide a well regulated and supervised financial system to assist the movement of foreign capital into Washington state for the support and diversification of the local industrial base;

     (3) Assist the development of the economy of the state of Washington without disrupting business relationships of state and federal financial institutions.

[1973 1st ex.s. c 53 § 1.]