SSB 6348 - H COMM AMD

By Committee on Financial Institutions & Insurance

On page 1, strike everything after the enacting clause and insert the following:

"NEW SECTION. Sec. 1. A new section is added to chapter 30.04 RCW to read as follows:

(1) A bank or trust company that has received a judicial or administrative subpoena, summons, or any other similar request for the production of its records is entitled to receive from the requesting party reimbursement for the reasonable cost of producing these records when the cost of producing the records exceeds twenty-five dollars. For the purposes of this section the term bank includes a state chartered or nationally chartered bank. The reasonable cost of production shall be not less than the amounts of reimbursement provided by federal regulations for reimbursement when complying with summons issued by the federal internal revenue service.

(2) No reimbursement shall be required for complying with a request from the supervisor of banking, nor when the bank is a party to the proceeding."

"NEW SECTION. Sec. 2. A new section is added to chapter 31.04 RCW to read as follows:

(1) A licensee that has received a judicial or administrative subpoena, summons, or any other similar request for the production of its records is entitled to receive from the requesting party reimbursement for the reasonable cost of producing these records when the cost of producing the records exceeds twenty-five dollars. The reasonable cost of production shall be not less than the amounts of reimbursement provided by federal regulations for reimbursement when complying with summons issued by the federal internal revenue service.

(2) No reimbursement shall be required for complying with a request from the supervisor of banking, nor when the licensee is a party to the proceeding."

"NEW SECTION. Sec. 3. A new section is added to chapter 31.12 RCW to read as follows:

(1) A credit union that has received a judicial or administrative subpoena, summons, or any other similar request for the production of its records is entitled to receive from the requesting party reimbursement for the reasonable cost of producing these records when the cost of producing the records exceeds twenty-five dollars. For the purposes of this section the term credit union includes a state chartered or nationally chartered credit union. The reasonable cost of production shall be not less than the amounts of reimbursement provided by federal regulations for reimbursement when complying with summons issued by the federal internal revenue service.

(2) No reimbursement shall be required for complying with a request from the supervisor of savings and loan associations, nor when the credit union is a party to the proceeding."

"NEW SECTION. Sec. 4. A new section is added to chapter 32.04 RCW to read as follows:

(1) A mutual savings bank that has received a judicial or administrative subpoena, summons, or any other similar request for the production of its records is entitled to receive from the requesting party reimbursement for the reasonable cost of producing these records when the cost of producing the records exceeds twenty-five dollars. For the purposes of this section the term mutual savings bank includes a state chartered or nationally chartered mutual savings bank. The reasonable cost of production shall be not less than the amounts of reimbursement provided by federal regulations for reimbursement when complying with summons issued by the federal internal revenue service.

(2) No reimbursement shall be required for complying with a request from the supervisor of banking, nor when the mutual savings bank is a party to the proceeding."

"NEW SECTION. Sec. 5. A new section is added to chapter 33.04 RCW to read as follows:

(1) A savings and loan association that has received a judicial or administrative subpoena, summons, or any other similar request for the production of its records is entitled to receive from the requesting party reimbursement for the reasonable cost of producing these records when the cost of producing the records exceeds twenty-five dollars. For the purposes of this section the term savings and loan association includes a state chartered or nationally chartered savings and loan association. The reasonable cost of production shall be not less than the amounts of reimbursement provided by federal regulations for reimbursement when complying with summons issued by the federal internal revenue service.

(2) No reimbursement shall be required for complying with a request from the supervisor of savings and loan associations, nor when the savings and loan association is a party to the proceeding."

SSB 6348 - H COMM AMD

By Committee on Financial Institutions & Insurance

On page 1, line 2 of the title, after "records;" strike the remainder of the title and insert "adding a new section to chapter 30.04 RCW; adding a new section to chapter 31.04 RCW; adding a new section to chapter 31.12 RCW; adding a new section to chapter 32.04 RCW; and adding a new section to chapter 33.04 RCW."