30.12.120 - Loans to officers or employees from trust funds -- Penalty.

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.

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

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