Washington Code 43.163.110 – Restrictions on authority’s activity
Current as of: 2023 | Check for updates
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Notwithstanding any other provision of this chapter, the authority shall not:
Terms Used In Washington Code 43.163.110
- Authority: means the Washington economic development finance authority created under RCW 43. See Washington Code 43.163.010
- Bonds: means any bonds, notes, debentures, interim certificates, conditional sales or lease financing agreements, lines of credit, forward purchase agreements, investment agreements, and other banking or financial arrangements, guaranties, or other obligations issued by or entered into by the authority. See Washington Code 43.163.010
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(1) Give any state money or property or loan any state money or credit to or in aid of any individual, association, company, or corporation, or become directly or indirectly the owner of any stock in or bonds of any association, company, or corporation;
(2) Issue bills of credit or accept deposits of money for time or demand deposit, administer trusts, engage in any form or manner in, or in the conduct of, any private or commercial banking business, or act as a savings bank or savings and loan association other than as provided in this chapter;
(3) Be or constitute a bank or trust company within the jurisdiction or under the control of the director of financial institutions, the comptroller of the currency of the United States of America or the treasury department thereof;
(4) Be or constitute a bank, broker or dealer in securities within the meaning of, or subject to the provisions of, any securities, securities exchange or securities dealers’ law of the United States of America or the state;
(5) Engage in the financing of housing as provided for in chapter 43.180 RCW;
(6) Engage in the financing of health care facilities as provided for in chapter 70.37 RCW; or
(7) Engage in financing higher education facilities as provided for in chapter 28B.07 RCW.