Washington Code 30A.38.050 – Branch of out-of-state state bank — Violations — Unsafe and unsound operations — Enforcement actions — Notice to home state regulator
Current as of: 2023 | Check for updates
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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. Formerly RCW 30.38.050.]
Terms Used In Washington Code 30A.38.050
- Bank: means any national bank, state bank, and district bank, as those terms are defined in 12 U. See Washington Code 30A.38.005
- Branch: means an office of a bank through which it receives deposits, other than its principal office. See Washington Code 30A.38.005
- Home state: means with respect to a:
Washington Code 30A.38.005Home state regulator: means , with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is chartered. See Washington Code 30A.38.005 Out-of-state state bank: means a bank chartered under the laws of any state other than Washington. See Washington Code 30A.38.005 State: means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. See Washington Code 30A.38.005 Washington state bank: means a bank organized under Washington banking law. See Washington Code 30A.38.005