Full text of Washington Revised Code of Washington § 31.35.070 — Examination of agricultural lender., with citation guidance and answers to common questions.
§ 31.35.070. Examination of agricultural lender.
(1) The director shall visit each agricultural lender at least every twenty-four months for the purpose of assuring that the agricultural lender remains in compliance with and qualified for the loan guaranty program.
(a) The director may accept timely audited financial statements and other timely reports the director determines to be relevant and accurate as part of a full and complete examination of the agricultural lender. The director shall make an independent review of loans guaranteed by the loan guaranty program.
(b) The agricultural lender shall be exempt from examination under this subsection if it terminates its activities under the loan guaranty program and no loans guaranteed by the loan guaranty program remain on the books. This exemption becomes effective upon notification to the director. The director shall confirm termination of activities under the loan guaranty program with the appropriate federal agency.
(c) All examination reports and all information obtained by the director and the director's staff in conducting examinations of an agricultural lender are confidential to the same extent bank examinations are confidential under *RCW
30.04.075.
(d) All examination reports may be shared with other state or federal agencies consistent with **chapter
30.04 RCW.
(2) A director, officer, or employee of an agricultural lender or of a subsidiary of an agricultural lender being examined by the director or a person having custody of any of the books, accounts, or records of the agricultural lender or of the subsidiary shall facilitate the examination so far as it is in his or her power to do so.
(3) If in the opinion of the director it is necessary in the examination of an agricultural lender or of a subsidiary of an agricultural lender, the director may retain any certified public accountant, attorney, appraiser, or other person to assist the director. The agricultural lender being examined shall pay the fees of a person retained by the director under this subsection.
Notes
Reviser's note: *(1) RCW
30.04.075 was recodified as RCW
30A.04.075 pursuant to 2014 c 37 s 4, effective January 5, 2015.
**(2) Chapter
30.04 RCW was recodified as chapter
30A.04 RCW pursuant to 2014 c 37 s 4, effective January 5, 2015.
Source: official Washington text · Last verified 2026-08-27
Frequently Asked Questions About Washington § 31.35.070
What does Revised Code of Washington § 31.35.070 cover?
Section 31.35.070 ("Examination of agricultural lender.") 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 § 31.35.070?
A common citation format is "Revised Code of Washington § 31.35.070" (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 § 31.35.070 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.
