HOUSE BILL NO. 1729
C 220 L 89
State of Washington 51st Legislature 1989 Regular Session
By Representatives Dellwo, Chandler, Crane and Doty; by request of Department of General Administration
Read first time 2/3/89 and referred to Committee on Financial Institutions & Insurance.
AN ACT Relating to internal consistency of Title 30 RCW; and amending RCW 30.04.112, 30.12.190, and 30.22.190.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. Section 2, chapter 157, Laws of 1983 and RCW 30.04.112 are each amended to read as follows:
federal reserve funds with a maturity of one business day or under a continuing
contract are not "loans or obligations" or "liabilities"
for the purposes of the loan limits established by RCW ((
However, sales of federal reserve funds with a maturity of more than one
business day are subject to those limits.
For the purposes of this section, "sale of federal reserve funds" means any transaction among depository institutions involving the disposal of immediately available funds resulting from credits to deposit balances at federal reserve banks or from credits to new or existing deposit balances due from a correspondent depository institution.
Sec. 2. Section 30.12.190, chapter 33, Laws of 1955 as amended by section 47, chapter 3, Laws of 1983 and RCW 30.12.190 are each amended to read as follows:
person who shall violate, or knowingly aid or abet the violation of any
provision of RCW 30.04.010, 30.04.030, ((
30.04.060, 30.04.070, 30.04.075, (( 30.04.100, 30.04.110)) 30.04.111,
30.04.120, 30.04.130, 30.04.180, 30.04.210, 30.04.220, 30.04.280, 30.04.290,
30.04.300, 30.08.010, 30.08.020, 30.08.030, 30.08.040, 30.08.050, 30.08.060,
30.08.080, 30.08.090, 30.08.095, 30.08.110, 30.08.120, 30.08.140, 30.08.150,
30.08.160, 30.08.180, 30.08.190, 30.12.010, 30.12.020, 30.12.030, 30.12.060,
30.12.070, (( 30.12.080,)) 30.12.130, (( 30.12.140, 30.12.150,
30.12.160,)) 30.12.180, 30.12.190, 30.16.010, 30.20.060, 30.40.010,
30.44.010, 30.44.020, 30.44.030, 30.44.040, 30.44.050, 30.44.060, 30.44.070,
30.44.080, 30.44.090, 30.44.100, 30.44.130, 30.44.140, 30.44.150, 30.44.160,
30.44.170, 30.44.240, 30.44.250, 43.19.020, 43.19.030, 43.19.050, and
43.19.090, and every person who fails to perform any act which it is therein
made his duty to perform, shall be guilty of a misdemeanor. No person who has
been convicted for the violation of the banking laws of this or any other state
or of the United States shall be permitted to engage in or become an officer or
official of any bank or trust company organized and existing under the laws of
Sec. 3. Section 19, chapter 192, Laws of 1981 and RCW 30.22.190 are each amended to read as follows:
In each case, where it is provided in RCW 30.22.180 that a financial institution may make payment of funds deposited in an account to the personal representative of the estate of a deceased depositor or beneficiary, the financial institution may make payment of the funds to the following persons under the circumstances provided:
(1) In those instances where the deceased depositor left a surviving spouse, and the deceased depositor and the surviving spouse shall have executed a community property agreement which by its terms would include funds of the deceased depositor remaining in the account, a financial institution may make payment of all funds in the name of the deceased spouse to the surviving spouse upon receipt of a certified copy of the community property agreement as recorded in the office of a county auditor of the state and an affidavit of the surviving spouse that the community property agreement was validly executed and in full force and effect upon the death of the depositor.
(2) In those instances where the balance of the funds in the name of a deceased depositor does not exceed two thousand five hundred dollars, payment of the decedent's funds remaining in the account may be made to the surviving spouse, next of kin, funeral director, or other creditor who may appear to be entitled thereto upon receipt of proof of death and an affidavit to the effect that no personal representative has been appointed for the deceased depositor's estate. As a condition to the payment, a financial institution may require such waivers, indemnity, receipts, and acquittance and additional proofs as it may consider proper.
those instances where ((
the balance of the funds in the name of a deceased
depositor does not exceed ten thousand dollars, to the person entitled thereto
when presented by)) the person entitled presents an affidavit which
meets the requirements of chapter 11.62 RCW.
A person receiving a payment from a financial institution pursuant to subsections (2) and (3) of this section is answerable and accountable therefor to any personal representative of the deceased depositor's estate wherever and whenever appointed.