Washington State Department of Financial Institutions

1996 Banks Opinions List Archive

Opinions by Year(s):
2004-1997 | 1996

The opinions expressed in the interpretive letters are informal and non-binding. These opinions reflect the position of the Division of Banks at the time they were produced. The Division could learn of additional facts, which would cause us to change our position.

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Note: Readers are cautioned that the opinions in both the interpretive letters and policy statements may have changed because of statute or rule revisions or other additional facts presented. Consult your attorney for advice regarding the current state of the law and how it may apply to the issue or situation you have in mind.

1996 Opinions

Number 96-010
Date 12/30/96
Subject Regarding certain powers and authorities of Title 32 savings banks.

Number 96-009
Date 11/20/96
Subject Concerning the breadth of savings bank powers under amended RCW Title 32, specifically whether a Bank could invest, as an equity investor, in income producing real property, and whether it would have authority to put as much as its entire lending portfolio into business banking loans, without changing its charter.

Number 96-008
Date 11/01/96
Subject A Washington corporation organized solely to serve as trustee of a Massachusetts trust under the laws of the state of Washington is not a “trust company.”

Number 96-007
Date 09/19/96
Subject Ruling With Respect to Trust Assets Held by Trust Company Taken Over By the Director of Financial Institutions.

Number 96-006
Date 09/05/96
Subject Concerning sales of Prepaid Telephone Cards

Number 96-005
Date 08/19/96
Subject Concerning the powers of a Title 32 RCW savings bank relative to federal and state-chartered savings and loans and commercial banks.

Number 96-004
Date 08/07/96
Subject Whether a Washington corporation serving as a trustee owned by a trust company or bank with trust powers regulated by a state banking department or the OCC is a “trust company,” and if a Washington trust company may invest in all the voting stock of a Washington corporation organized solely to act as trustee of a Massachusetts trust organized under the laws of the State of Washington.

Number 96-003
Date 04/29/96
Subject Interpretation of the amendments contained in Washington State’s new interstate branching law as these revisions relate to limited services provided by Bank branch personnel at off-site locations.

Number 96-002
Date 02/29/96
Subject Agency Agreement Powers of State Chartered Banks

Number 96-001
Date 01/26/96
Subject Automobile Extended Service Program 

DOB opinions issued prior to 1996 may be obtained by sending a request to:

Division of Banks
Post Office Box 41200
Olympia, Washington 98504-1200