(1) The director, assistant director, program
manager, or an examiner shall visit each bank and each trust
company at least once every eighteen months, and oftener if
necessary, or as otherwise required by the rules and
interpretations of applicable federal banking examination
authorities, for the purpose of making a full investigation into
the condition of such corporation, and for that purpose they are
hereby empowered to administer oaths and to examine under oath
any director, officer, employee, or agent of such corporation.
(2) The director may make such other full or partial
examinations as deemed necessary and may examine any bank holding
company that owns any portion of a bank or trust company
chartered by the state of Washington and obtain reports of
condition for any bank holding company that owns any portion of a
bank or trust company chartered by the state of Washington.
(3) The director may visit and examine into the affairs of
any nonpublicly held corporation in which the bank, trust
company, or bank holding company has an investment or any
publicly held corporation the capital stock of which is
controlled by the bank, trust company, or bank holding company;
may appraise and revalue such corporations' investments and
securities; and shall have full access to all the books, records,
papers, securities, correspondence, bank accounts, and other
papers of such corporations for such purposes.
(4) The director may, in his or her discretion, accept in
lieu of the examinations required in this section the
examinations conducted at the direction of the federal reserve
board or the federal deposit insurance corporation.
(5) Any willful false swearing in any examination is perjury
in the second degree.
(6) The director may enter into cooperative and reciprocal
agreements with the bank regulatory authorities of the United
States, any state, the District of Columbia, or any trust
territory of the United States for the periodic examination of
domestic bank holding companies owning banking institutions in
other states, the District of Columbia, or trust territories, and
subsidiaries of such domestic bank holding companies, or of
out-of-state bank holding companies owning a bank or trust
company the principal operations of which are conducted in this
state. The director may accept reports of examination and other
records from such authorities in lieu of conducting his or her
own examinations. The director may enter into joint actions with
other regulatory bodies having concurrent jurisdiction or may
enter into such actions independently to carry out his or her
responsibilities under this title and assure compliance with the
laws of this state.
(7) Copies from the records, books, and accounts of a bank,
trust company, or holding company shall be competent evidence in
all cases, equal with originals thereof, if there is annexed to
such copies an affidavit taken before a notary public or clerk of
a court under seal, stating that the affiant is the officer of
the bank, trust company, or holding company having charge of the
original records, and that the copy is true and correct and is
full so far as the same relates to the subject matter therein
mentioned.
[2010 c 88 § 7; 1994 c 92 § 9; 1989 c 180 § 1; 1985 c 305 § 3; 1983 c 157 § 3; 1982 c 196 § 6; 1955 c 33 § 30.04.060. Prior: 1937 c 48 § 1; 1919 c 209 § 5; 1917 c 80 § 7; RRS § 3214.]
NOTES:
Effective date -- 2010 c 88: See RCW 32.50.900.
Severability -- 1983 c 157: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [1983 c 157 § 12.]
Severability -- 1982 c 196: See note following RCW 30.04.550.
Director of financial institutions: Chapter 43.320 RCW.