CERTIFICATION OF ENROLLMENT
SENATE BILL 6131
66TH LEGISLATURE
2020 REGULAR SESSION
Passed by the Senate February 5, 2020 Yeas 49 Nays 0
President of the Senate Passed by the House March 3, 2020 Yeas 96 Nays 0
Speaker of the House of Representatives | CERTIFICATE I, Brad Hendrickson, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SENATE BILL 6131 as passed by the Senate and the House of Representatives on the dates hereon set forth.
Secretary Secretary |
Approved | FILED |
| Secretary of State State of Washington |
SENATE BILL 6131
Passed Legislature - 2020 Regular Session
State of Washington | 66th Legislature | 2020 Regular Session |
BySenators Mullet, Hobbs, Short, Wilson, L., and Das; by request of Department of Financial Institutions
Prefiled 01/03/20.Read first time 01/13/20.Referred to Committee on Financial Institutions, Economic Development & Trade.
AN ACT Relating to repealing the debenture company laws from the securities act of Washington; amending RCW
21.20.810; and repealing RCW
21.20.705,
21.20.710,
21.20.715,
21.20.717,
21.20.720,
21.20.725,
21.20.727,
21.20.730,
21.20.732,
21.20.734,
21.20.740,
21.20.745,
21.20.750,
21.20.805,
21.20.815,
21.20.820,
21.20.825,
21.20.830,
21.20.835,
21.20.840,
21.20.845, and
21.20.850.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW
21.20.810 and 1988 c 244 s 7 are each amended to read as follows:
NEW SECTION. Sec. 2. The following acts or parts of acts are each repealed:
(1) RCW
21.20.705 (Debenture companies
—Definitions) and 1988 c 244 s 2, 1987 c 421 s 1, 1979 c 140 s 1, & 1973 1st ex.s. c 171 s 6;
(2) RCW
21.20.710 (Debenture companies
—Capital requirements) and 2016 c 61 s 14, 1988 c 244 s 3, & 1973 1st ex.s. c 171 s 7;
(3) RCW
21.20.715 (Debenture companies
—Maturity date requirements) and 1987 c 421 s 2 & 1973 1st ex.s. c 171 s 8;
(4) RCW
21.20.717 (Debenture companies
—Controlling person
—Exceptions) and 1987 c 421 s 3;
(5) RCW
21.20.720 (Debenture companies
—Prohibited activities by directors, officers, or controlling persons) and 1993 c 472 s 16, 1987 c 421 s 4, 1979 ex.s. c 68 s 41, 1979 c 158 s 87, & 1973 1st ex.s. c 171 s 9;
(6) RCW
21.20.725 (Debenture companies
—Debentures payable on demand
—Interest
—Certificates of debenture) and 1988 c 244 s 4 & 1973 1st ex.s. c 171 s 10;
(7) RCW
21.20.727 (Debenture companies
—Acquisition of control
—Requirements
—Violation
—Penalty) and 2016 c 61 s 15 & 1987 c 421 s 5;
(8) RCW
21.20.730 (Debenture companies
—Acquisition of control
—Grounds for disapproval) and 1987 c 421 s 6;
(9) RCW
21.20.732 (Debenture companies
—Notice of charges
—Hearing
—Cease and desist orders) and 1988 c 244 s 5 & 1987 c 421 s 7;
(10) RCW
21.20.734 (Debenture companies
—Temporary cease and desist orders) and 1988 c 244 s 6 & 1987 c 421 s 8;
(11) RCW
21.20.740 (Reports
—Requirements) and 1997 c 101 s 1, 1979 ex.s. c 68 s 42, & 1973 1st ex.s. c 171 s 11;
(12) RCW
21.20.745 (Reports
—Violations of reporting requirements
—Penalties
—Contribution) and 1979 ex.s. c 68 s 43 & 1973 1st ex.s. c 171 s 12;
(13) RCW
21.20.750 (Reports
—Suspension of sale of securities until reporting requirements complied with) and 1973 1st ex.s. c 171 s 13;
(14) RCW
21.20.805 (Effective date
—Construction
—1973 1st ex.s. c 171) and 1973 1st ex.s. c 171 s 14;
(15) RCW
21.20.815 (Debenture companies
—Equity investments) and 1988 c 244 s 8;
(16) RCW
21.20.820 (Debenture companies
—Loans to any one borrower
—Limitations) and 1988 c 244 s 9;
(17) RCW
21.20.825 (Debenture companies
—Bad debts) and 1988 c 244 s 10;
(18) RCW
21.20.830 (Debenture companies
—Investments in unsecured loans) and 1988 c 244 s 11;
(19) RCW
21.20.835 (Debenture companies
—Debenture holders
—Notice of maturity date of debenture) and 1988 c 244 s 12;
(20) RCW
21.20.840 (Debenture companies
—Annual financial statement) and 1988 c 244 s 13;
(21) RCW
21.20.845 (Debenture companies
—Rules) and 1988 c 244 s 14; and
(22) RCW
21.20.850 (Debenture companies
—Record maintenance and preservation
—Examination) and 1988 c 244 s 15.
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