WSR 98-17-059
PERMANENT RULES
DEPARTMENT OF
FINANCIAL INSTITUTIONS
(Securities Division)
[Filed August 17, 1998, 8:50 a.m.]
Date of Adoption: August 17, 1998.
Purpose: Repeal various sections of chapter 460-52A WAC, Nonprofit organizations. These provisions merely duplicate the enabling statute, RCW 21.20.310(11), and are therefore unnecessary.
Citation of Existing Rules Affected by this Order: Repealing WAC 460-52A-010, 460-52A-030, 460-52A-040, 460-52A-050, and 460-52A-060.
Statutory Authority for Adoption: RCW 21.20.450.
Adopted under preproposal statement of inquiry filed as WSR 98-14-071 on June 30, 1998.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, amended 0, repealed 0; Federal Rules or Standards: New 0, amended 0, repealed 0; or Recently Enacted State Statutes: New 0, amended 0, repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, amended 0, repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 0, amended 0, repealed 5.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, amended 0, repealed 0.
Number of Sections Adopted Using Negotiated Rule Making: New 0, amended 0, repealed 0; Pilot Rule Making: New 0, amended 0, repealed 0; or Other Alternative Rule Making: New 0, amended 0, repealed 5.
Other Findings Required by Other Provisions of Law as Precondition to Adoption or Effectiveness of Rule: No rule may be made unless the director of the Department of Financial Institutions finds that the action is necessary or appropriate in the public interest or for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of chapter 21.20 RCW.
Effective Date of Rule: Thirty-one days after filing.
August 17, 1998
John L. Bley
Director
OTS-2319.2
REPEALER
The following sections of the Washington Administrative Code are repealed:
WAC 460-52A-010 Definitions.
WAC 460-52A-030 Exemption for securities of nonprofit organizations.
WAC 460-52A-040 Exemption notice.
WAC 460-52A-050 Filing fee.
WAC 460-52A-060 Duration of offering.