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Current as of January 01, 2025 | Updated by Findlaw Staff
No corporation doing a trust business shall make any loan to any officer, or employee from its trust funds, nor shall it permit any officer, or employee to become indebted to it in any way out of its trust funds. Every officer, director, or employee of any such corporation, who knowingly violates this section, or who aids or abets any other person in any such violation, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
Cite this article: FindLaw.com - Washington Revised Code Title 30A. Washington Commercial Bank Act § 30A.12.120. Loans to officers or employees from trust funds--Penalty - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-30a-washington-commercial-bank-act/wa-rev-code-30a-12-120/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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