Washington § 30A.12.240 - Violations — Director liability.

Full text of Washington Revised Code of Washington § 30A.12.240 — Violations — Director liability., with citation guidance and answers to common questions.

§ 30A.12.240. Violations — Director liability.

If the directors of any bank or holding company shall knowingly violate, or knowingly permit any of the officers, agents, or employees of the bank to violate any of the provisions of this title or any lawful regulation or directive of the director, and if the directors are aware that such facts and circumstances constitute such violations, then each director who participated in or assented to the violation is personally and individually liable for all damages which the state or any insurer of the deposits of the bank sustains due to the violation.
[ 2014 c 37 s 188; 2010 c 88 s 29; 1994 c 92 s 73; 1989 c 180 s 7. Formerly RCW 30.12.240.]

Notes

Effective date—2010 c 88: See RCW 32.50.900.

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Frequently Asked Questions About Washington § 30A.12.240

What does Revised Code of Washington § 30A.12.240 cover?

Section 30A.12.240 ("Violations — Director liability.") 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 § 30A.12.240?

A common citation format is "Revised Code of Washington § 30A.12.240" (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.

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Sources & Verification

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