CERTIFICATION OF ENROLLMENT

SUBSTITUTE SENATE BILL 5266

Chapter 338, Laws of 2005

59th Legislature
2005 Regular Session



FINANCIAL TRANSACTIONS--STATE REGULATION



EFFECTIVE DATE: 7/24/05

Passed by the Senate April 16, 2005
  YEAS 39   NAYS 3

BRAD OWEN
________________________________________    
President of the Senate
Passed by the House April 5, 2005
  YEAS 95   NAYS 0

FRANK CHOPP
________________________________________    
Speaker of the House of Representatives


 
CERTIFICATE

I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SUBSTITUTE SENATE BILL 5266 as passed by the Senate and the House of Representatives on the dates hereon set forth.

THOMAS HOEMANN
________________________________________    
Secretary
Approved May 9, 2005.








CHRISTINE GREGOIRE
________________________________________    
Governor of the State of Washington		 
FILED
May 9, 2005 - 3:38 p.m.







Secretary of State
State of Washington


_____________________________________________ 

SUBSTITUTE SENATE BILL 5266
_____________________________________________

AS AMENDED BY THE HOUSE

Passed Legislature - 2005 Regular Session
State of Washington59th Legislature2005 Regular Session

By Senate Committee on Financial Institutions, Housing & Consumer Protection (originally sponsored by Senators Fairley, Benson, Prentice and Benton)

READ FIRST TIME 01/28/05.   



     AN ACT Relating to reserving state authority to regulate the customer transactions of financial service providers under the jurisdiction of the department of financial institutions; adding a new section to chapter 35.21 RCW; adding a new section to chapter 35A.21 RCW; adding a new section to chapter 36.01 RCW; and creating a new section.

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

NEW SECTION.  Sec. 1   The legislature finds that consumers, financial services providers, and financial institutions need uniformity and certainty in their financial transactions. It is the intent of the legislature to reserve the authority to regulate customer financial transactions involving consumers, financial services providers, and financial institutions.

NEW SECTION.  Sec. 2   A new section is added to chapter 35.21 RCW to read as follows:
     A city, town, or governmental entity subject to this title may not regulate the terms, conditions, or disclosures of any lawful financial transaction between a consumer and (1) a business or professional under the jurisdiction of the department of financial institutions, or (2) any financial institution as defined under RCW 30.22.041.

NEW SECTION.  Sec. 3   A new section is added to chapter 35A.21 RCW to read as follows:
     A code city or governmental entity subject to this title may not regulate the terms, conditions, or disclosures of any lawful financial transaction between a consumer and (1) a business or professional under the jurisdiction of the department of financial institutions, or (2) any financial institution as defined under RCW 30.22.041.

NEW SECTION.  Sec. 4   A new section is added to chapter 36.01 RCW to read as follows:
     A county or governmental entity subject to this title may not regulate the terms, conditions, or disclosures of any lawful financial transaction between a consumer and (1) a business or professional under the jurisdiction of the department of financial institutions, or (2) any financial institution as defined under RCW 30.22.041.


         Passed by the Senate April 16, 2005.
         Passed by the House April 5, 2005.
         Approved by the Governor May 9, 2005.
         Filed in Office of Secretary of State May 9, 2005.