Wash. Rev. Code § 30A.12.120

Current through the 2024 Regular Session

Section 30A.12.120 - Loans to officers or employees from trust funds-Penalty

No corporation doing a trust business shall make any loan to any officer, or employee from its trust funds, nor shall it permit any officer, or employee to become indebted to it in any way out of its trust funds. Every officer, director, or employee of any such corporation, who knowingly violates this section, or who aids or abets any other person in any such violation, is guilty of a class B felony punishable according to chapter 9A.20 RCW.

RCW 30A.12.120

Recodified from 30.12.120 by 2014 c 37,§ 4, eff. 1/5/2015.

2003 c 53 § 188; 1955 c 33 § 30.12.120. Prior: 1917 c 80 § 53; RRS § 3260.

Intent-Effective date-2003 c 53: See notes following RCW 2.48.180.