| Passed by the House March 14, 2007 Yeas 96 FRANK CHOPP ________________________________________ Speaker of the House of Representatives Passed by the Senate April 10, 2007 Yeas 47 BRAD OWEN ________________________________________ President of the Senate | 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 | April 23, 2007 Secretary of State State of Washington |
| State of Washington | 60th Legislature | 2007 Regular Session |
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.