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Washington Administrative Code (Last Updated: November 23, 2016) |
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Title 208. Financial Institutions, Department of (See Titles 50, 419, and 460) |
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Chapter 208-620. Washington Consumer Loan Act. |
Section 208-620-325. What will my bond amount be in the first year of licensing?
Latest version.
- (1) If you lend money, your initial bond amount will be based on either your prior year's loan origination volume in Washington or one hundred thousand dollars. See the bonding chart in WAC 208-620-320.(2) If you only service residential mortgage loans your initial bond amount is thirty thousand dollars. For subsequent years see the bonding chart in WAC 208-620-320.(3) If you only provide third-party residential mortgage loan modification services, your bond amount is thirty thousand dollars initially and thereafter.[Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 13-24-024, § 208-620-325, filed 11/22/13, effective 1/1/14; WSR 12-18-047, § 208-620-325, filed 8/29/12, effective 11/1/12. Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35. WSR 10-20-122, § 208-620-325, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. WSR 09-24-090, § 208-620-325, filed 12/1/09, effective 1/1/10.]
RCW 43.320.040 and 31.04.165. WSR 13-24-024, § 208-620-325, filed 11/22/13, effective 1/1/14; WSR 12-18-047, § 208-620-325, filed 8/29/12, effective 11/1/12. Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35. WSR 10-20-122, § 208-620-325, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. WSR 09-24-090, § 208-620-325, filed 12/1/09, effective 1/1/10.
Rules
208-620-320,208-620-320,