CERTIFICATION OF ENROLLMENT

SUBSTITUTE HOUSE BILL 2286

Chapter 167, Laws of 2007

60th Legislature
2007 Regular Session



BANKS--INTERSTATE BRANCHING



EFFECTIVE DATE: 07/22/07

Passed by the House March 14, 2007
  Yeas 96   Nays 0

FRANK CHOPP
________________________________________    
Speaker of the House of Representatives


Passed by the Senate April 10, 2007
  Yeas 47   Nays 0


BRAD OWEN
________________________________________    
President of the Senate
 
CERTIFICATE

I, Richard Nafziger, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is SUBSTITUTE HOUSE BILL 2286 as passed by the House of Representatives and the Senate on the dates hereon set forth.


RICHARD NAFZIGER
________________________________________    
Chief Clerk
Approved April 21, 2007, 10:39 a.m.








CHRISTINE GREGOIRE
________________________________________    
Governor of the State of Washington
 
FILED
April 23, 2007







Secretary of State
State of Washington


_____________________________________________ 

SUBSTITUTE HOUSE BILL 2286
_____________________________________________

Passed Legislature - 2007 Regular Session
State of Washington60th Legislature2007 Regular Session

By House Committee on Insurance, Financial Services & Consumer Protection (originally sponsored by Representatives Simpson, Kirby, Williams, Kelley and Hunt)

READ FIRST TIME 2/28/07.   



     AN ACT Relating to interstate branching; and amending RCW 30.04.285.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1   RCW 30.04.285 and 1996 c 2 s 6 are each amended to read as follows:
     (1) The director's approval of a branch within the United States or any territory of the United States or in any foreign country shall be conditioned on a finding by the director that the bank has a satisfactory record of compliance with applicable laws and has a satisfactory financial condition. A bank chartered under this title may exercise any powers and authorities at any branch outside Washington that are permissible for a bank operating in that state where the branch is located, except to the extent those activities are expressly prohibited by the laws of this state or by any rule or order of the director applicable to the state bank. However, the director may waive any limitation in writing with respect to powers and authorities that the director determines do not threaten the safety or soundness of the state bank.
     (2) An out-of-state bank may acquire, establish, or maintain a branch in Washington within one mile of an affiliate commercial location only to the same extent permitted for a Washington bank under applicable state and federal law. For purposes of this subsection, "bank" means any national bank, state bank, and district bank, as defined in 12 U.S.C. Sec. 1813(a); "out-of-state bank" means a bank whose home state is a state other than Washington; and "Washington bank" means a bank whose home state is Washington. "Home state" has the same meaning as defined in RCW 30.38.005.


         Passed by the House March 14, 2007.
         Passed by the Senate April 10, 2007.
         Approved by the Governor April 21, 2007.
         Filed in Office of Secretary of State April 23, 2007.