Washington § 30A.22.260 - Promotional contests of chance — Director's authority.

Full text of Washington Revised Code of Washington § 30A.22.260 — Promotional contests of chance — Director's authority., with citation guidance and answers to common questions.

§ 30A.22.260. Promotional contests of chance — Director's authority.

(1) If approved by its board of directors, a financial institution may conduct a promotional contest of chance as permitted under RCW 9.46.0356(1)(b).
(2) A financial institution must not conduct a savings promotional contest of chance, if, in the opinion of the director:
(a) It is likely to or does adversely affect the financial institution's safety and soundness;
(b) It is administered in an unsafe and unsound or imprudent manner, or in a manner that is likely to or does result in actual or potential reputational harm to the financial institution; or
(c) It is likely to or has misled the financial institution's members, depositors, or the general public.
(3) The director may examine the conduct of a promotional contest of chance pursuant to his or her supervisory and examination powers under:
(a) *Title 30 RCW, in regard to a bank;
(b) Title 32 RCW, in regard to a mutual or stock savings bank; or
(c) Chapter 31.12 RCW, in regard to a state credit union.
(4) The director may exercise his or her full enforcement powers under the titles and chapter in subsection (3) of this section and may issue a cease and desist order for a violation of this section.
(5) A financial institution must maintain records sufficient to facilitate an audit of a promotional contest of chance, and must provide those records to the director upon request.
[ 2011 c 303 s 5. Formerly RCW 30.22.260.]

Notes

*Reviser's note: Title 30 RCW was recodified and/or repealed pursuant to chapter 37, Laws of 2014, effective January 5, 2015.
Findings—Intent—2011 c 303: See note following RCW 9.46.0356.

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

Related Washington Legal Topics

Frequently Asked Questions About Washington § 30A.22.260

What does Revised Code of Washington § 30A.22.260 cover?

Section 30A.22.260 ("Promotional contests of chance — Director's authority.") 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.22.260?

A common citation format is "Revised Code of Washington § 30A.22.260" (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 § 30A.22.260 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.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.