30.46.010 - Definitions. - Washington Statutes

Definitions.

The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.

     (1) "Unsafe condition" shall mean and include, but not be limited to, any one or more of the following circumstances:

     (a) If a bank or trust company is less than well capitalized;

     (b) If a bank or trust company violates the applicable provisions of Title 30 RCW or any other law or regulation applicable to banks or trust companies;

     (c) If a bank or trust company conducts a fraudulent or questionable practice in the conduct of its business that endangers a bank's or trust company's reputation or threatens its solvency;

     (d) If a bank or trust company conducts its business in an unsafe or unauthorized manner;

     (e) If a bank or trust company violates any conditions of its charter or any agreement entered with the director; or

     (f) If a bank or trust company fails to carry out any authorized order or direction of the examiner or the director.

     (2) "Exceeded its powers" shall mean and include, but not be limited to the following circumstances:

     (a) If a bank or trust company has refused to permit examination of its books, papers, accounts, records, or affairs by the director, assistant director, or duly commissioned examiners; or

     (b) If a bank or trust company has neglected or refused to observe an order of the director to make good, within the time prescribed, any impairment of its capital.

     (3) "Consent" includes and means a written agreement by the bank or trust company to either supervisory direction or conservatorship under this chapter.

[2010 c 88 § 37; 1994 c 92 § 133; 1975 1st ex.s. c 87 § 1.]

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