WA People
BILL · 2005–06 SESSION · LATEST VERSION ESSB 5997

SB 5997: Out-of-state banks

Regulating out-of-state banks, savings banks, and mutual savings banks branches.

Summary

  • Allows an out-of-state bank or savings bank to establish branches in Washington on the same or less favorable terms as are imposed on Washington-chartered banks or savings banks seeking to establish branches in the state where the institution is chartered or has its principal place of business.
  • Allows an acquiring depository association to seek to acquire control of a Washington savings bank under the same or less favorable terms as are applied to a Washington mutual savings bank or holding company of a mutual savings bank seeking to acquire control of an entity in the home state of the acquiring depository institution.
  • Defines "acquiring depository institution."

From the Substitute House Bill Report (SSB 5997), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 348, Laws of 2005
  1. IntroducedFeb 18, 2005
  2. Out of committeeMar 2, 2005
  3. Passed SenateMar 16, 2005
  4. Passed HouseApr 7, 2005
  5. GovernorMay 9, 2005
  6. LawMay 9, 2005
Prime sponsor
Harriet Spanel (D-40)
Introduced
February 18, 2005 in the Senate
Last action
May 9, 2005
Session law
Chapter 348, Laws of 2005
Companion bill
HB 2128
Versions
SB 5997, ESSB 5997

AN ACT Relating to banks, savings banks, and mutual savings banks branches;

Sponsors

Prime sponsor: Harriet Spanel (D-40)

1 co-sponsor (0 Democrats, 1 Republican)

Don Benton R-17

Votes

Senate · 3rd Reading & Final Passage

Passed March 16, 2005
Version voted on: ESSB 5997
47 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat25001
Republican22001
How each member voted

Yea (47)

Excused (2)

Permalink to this vote

House · Final Passage as Amended by the House

Passed April 7, 2005
Version voted on: ESSB 5997
95 Yea 0 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat56000
Republican39003
How each member voted

Yea (95)

Excused (3)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed April 16, 2005
Version voted on: ESSB 5997
41 Yea 0 Nay 0 Absent 8 Excused
PartyYeaNayAbsentExcused
Democrat26000
Republican15008
How each member voted
Permalink to this vote

History

  1. Effective date 5/9/2005. (ESSB 5997)
  2. Chapter 348, 2005 Laws. (ESSB 5997)
  3. Governor signed. (ESSB 5997)
  4. Delivered to Governor. (ESSB 5997)
  5. Speaker signed. (ESSB 5997)
  6. President signed. (ESSB 5997)
  7. Passed final passage; yeas, 41; nays, 0; absent, 0; excused, 8. (ESSB 5997)
  8. Senate concurred in House amendments. (ESSB 5997)
  9. Third reading, passed; yeas, 95; nays, 0; absent, 0; excused, 3. (ESSB 5997)
  10. Rules suspended. Placed on Third Reading. (ESSB 5997)
  11. Committee amendment adopted with no other amendments. (ESSB 5997)
  12. Placed on second reading by Rules Committee. (ESSB 5997)
  13. Passed to Rules Committee for second reading. (ESSB 5997)
  14. FII - Executive action taken by committee. (ESSB 5997)
  15. FII - Majority; do pass with amendment(s). (ESSB 5997)
  16. First reading, referred to Financial Institutions & Insurance. (ESSB 5997)
  17. Notice given to reconsider vote on third reading. (ESSB 5997)
  18. Third reading, passed; yeas, 47; nays, 0; absent, 0; excused, 2. (ESSB 5997)
  19. Rules suspended. Placed on Third Reading. (ESSB 5997)
  20. Floor amendment(s) adopted. (ESSB 5997)
  21. 1st substitute bill substituted. (ESSB 5997)
  22. No action on notice to reconsider vote on third reading. (ESSB 5997)
  23. 1st substitute bill substituted.
  24. Placed on second reading by Rules Committee. (ESSB 5997)
  25. Placed on second reading by Rules Committee.
  26. Made eligible to be placed on second reading. (ESSB 5997)
  27. Made eligible to be placed on second reading.
  28. FHC - Majority; 1st substitute bill be substituted, do pass. (ESSB 5997)
  29. Passed to Rules Committee for second reading. (ESSB 5997)
  30. FHC - Majority; 1st substitute bill be substituted, do pass.
  31. Passed to Rules Committee for second reading.
  32. First reading, referred to Financial Institutions, Housing & Consumer Protection.

SB 5997 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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