Statutes, codes, and regulations
Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)Chapter 208-620 - Washington Consumer Loan Act
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Section 208-620-540 - Do I need to account separately for payments from borrowers for third-party service providers?

Wash. Admin. Code § 208-620-540

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Current through Register Vol. 24-23, December 1, 2024
Section 208-620-540 - Do I need to account separately for payments from borrowers for third-party service providers?

Yes. You must separately account for all deposits and disbursements made by or for borrowers for third party service providers. You must not use those funds for your benefit or for the benefit of any person not entitled to such benefit.

Wash. Admin. Code § 208-620-540

Amended by WSR 13-24-024, filed 11/22/13, effective 1/1/2014

Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. 06-04-053, § 208-620-540, filed 1/27/06, effective 2/27/06.