# RCW 32.08.040: RCW 32.08.040: Examination and action by director

> Washington · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S040

## Section

- **Citation:** RCW 32.08.040
- **Heading:** RCW 32.08.040: Examination and action by director
- **Jurisdiction:** Washington
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Washington Code / Title 32 / Chapter 08 / Section 040

## Text

When any such certificate has been filed for examination the director shall thereupon ascertain from the best source of information at his or her command, and by such investigation as he or she may deem necessary, whether the character, responsibility, and general fitness of the person or persons named in such certificate are such as to command confidence and warrant belief that the business of the proposed bank will be honestly and efficiently conducted in accordance with the intent and purpose of this title, and whether the public convenience and advantage will be promoted by allowing such proposed bank to be incorporated and engage in business, and whether greater convenience and access to a savings bank would be afforded to any considerable number of depositors by opening a mutual savings bank in the place designated, whether the population in the neighborhood of such place, and in the surrounding country, affords a reasonable promise of adequate support for the proposed bank, and whether the contributions to the initial guaranty fund and expense fund have been paid in cash. After the director has satisfied himself or herself by such investigation whether it is expedient and desirable to permit such proposed bank to be incorporated and engage in business, he or she shall within sixty days after the date of the filing of the certificate for examination indorse upon each of the triplicates thereof over his or her official signature the word "approved" or the word "refused," with the date of such indorsement. In case of refusal he or she shall forthwith return one of the triplicates so indorsed to the proposed incorporators from whom the certificate was received.

## Nearby sections

- [RCW 32.08.010 RCW 32.08.010: Authority to organize—Incorporators—Certificate.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S010.md)
- [RCW 32.08.020 RCW 32.08.020: Notice of intention.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S020.md)
- [RCW 32.08.025 RCW 32.08.025: Limited liability company—Organization or conversion—Approval of director—Conditions—Application of chapter 25.15 RCW—Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S025.md)
- [RCW 32.08.030 RCW 32.08.030: Submission of certificate—Proof of service of notice.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S030.md)
- [RCW 32.08.040 RCW 32.08.040: Examination and action by director.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S040.md)
- [RCW 32.08.050 RCW 32.08.050: Appeal from adverse decision.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S050.md)
- [RCW 32.08.060 RCW 32.08.060: Procedure upon approval.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S060.md)
- [RCW 32.08.061 RCW 32.08.061: Extension of period of existence—Procedure.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S061.md)
- [RCW 32.08.070 RCW 32.08.070: Authorization certificate.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S070.md)
- [RCW 32.08.080 RCW 32.08.080: Conditions precedent to reception of deposits.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S080.md)
- [RCW 32.08.090 RCW 32.08.090: Expense fund—Agreement to contribute further—Security.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S090.md)
- [RCW 32.08.100 RCW 32.08.100: Guaranty fund.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S100.md)
- [RCW 32.08.110 RCW 32.08.110: Guaranty fund—Purpose.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S110.md)
- [RCW 32.08.115 RCW 32.08.115: Guaranty fund—Payment of interest and dividends—Legislative declaration.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S115.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S040. Check the current official text before relying on it. Not legal advice.