Washington § 43.320.090 - Borrowing money by director, deputy, or employee — Penalty.

Full text of Washington Revised Code of Washington § 43.320.090 — Borrowing money by director, deputy, or employee — Penalty., with citation guidance and answers to common questions.

§ 43.320.090. Borrowing money by director, deputy, or employee — Penalty.

(1) It shall be unlawful for the director of financial institutions, any deputized assistant of the director, or any employee of the department of financial institutions to borrow money from any bank, consumer loan company, credit union, foreign bank branch, savings bank, savings and loan association, or trust company or department, securities broker-dealer or investment advisor, or similar lending institution under the department's direct jurisdiction unless the extension of credit:
(a) Is made on substantially the same terms (including interest rates and collateral) as, and following credit underwriting procedures that are not less stringent than, those prevailing at the time for comparable transactions by the financial institution with other persons that are not employed by either the department or the institution; and
(b) Does not involve more than the normal risk of repayment or present other unfavorable features.
(2) Every person who knowingly violates this section shall forfeit his or her office or employment and be guilty of a gross misdemeanor.
[ 2019 c 147 s 4; 1993 c 472 s 23; 1965 c 8 s 43.19.080. Prior: 1917 c 80 s 11; RRS s 3218. Formerly RCW 43.19.080.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 43.320.090

What does Revised Code of Washington § 43.320.090 cover?

Section 43.320.090 ("Borrowing money by director, deputy, or employee — Penalty.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 43.320.090?

A common citation format is "Revised Code of Washington § 43.320.090" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 43.320.090 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

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