{"data":{"id":"us-wa/rcw-30a.22.260","jurisdiction":"us-wa","citation":"RCW 30A.22.260","heading":"Promotional contests of chance—Director's authority.","body":"(1) If approved by its board of directors, a financial institution may conduct a promotional contest of chance as permitted under RCW 9.46.0356(1)(b).\n(2) A financial institution must not conduct a savings promotional contest of chance, if, in the opinion of the director:\n(a) It is likely to or does adversely affect the financial institution's safety and soundness;\n(b) It is administered in an unsafe and unsound or imprudent manner, or in a manner that is likely to or does result in actual or potential reputational harm to the financial institution; or\n(c) It is likely to or has misled the financial institution's members, depositors, or the general public.\n(3) The director may examine the conduct of a promotional contest of chance pursuant to his or her supervisory and examination powers under:\n(a) *Title 30 RCW, in regard to a bank;\n(b) Title 32 RCW, in regard to a mutual or stock savings bank; or\n(c) Chapter 31.12 RCW, in regard to a state credit union.\n(4) The director may exercise his or her full enforcement powers under the titles and chapter in subsection (3) of this section and may issue a cease and desist order for a violation of this section.\n(5) A financial institution must maintain records sufficient to facilitate an audit of a promotional contest of chance, and must provide those records to the director upon request.","path":["Title 30A","Chapter 30A.22"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=30A.22.260","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T02:00:46Z","sha256":"091cec5b87c017965ad415df2434526d68ea90dc4b0b6617f0e76e3e22f2ddcf","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-30a.22.250","next":"us-wa/rcw-30a.22.900"},"notice":"GroundRules: Original legal text. Not legal advice."}