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PDFWAC 208-620-250

If my out-of-state company applies for a license under the Consumer Loan Act do we have to have a branch in the state of Washington?

(1) You are not required to maintain a physical presence in this state to hold a license but any location doing business under the act, wherever located, must be licensed. Your company's main office (headquarters), wherever located, must have a license.
(2) If you employ mortgage loan originators, those licensed employees must work from a licensed location. A licensed location is a main or branch office and an individual loan originator's home can be licensed as a branch office.
[Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 13-24-024, § 208-620-250, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35. WSR 10-20-122, § 208-620-250, filed 10/5/10, effective 11/5/10. 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. WSR 06-04-053, § 208-620-250, filed 1/27/06, effective 2/27/06.]
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