Current through Register Vol. 24-18, September 15, 2024
On or before April 15th of each year, you must submit the
following reports:
(1) Annual
financial statements. The financial statements must include at least a balance
sheet and a statement of income prepared in accordance with generally accepted
accounting principles. If you have established a fiscal year different from the
calendar year, the financial statements are due not later than one hundred five
days after the close of the fiscal year.
(2) Annual assessment report (AAR). You must
submit an AAR on your Washington activities, in a form prescribed by the
director. The AAR must contain the following:
(a) The total dollar volume of checks cashed
during the period, if applicable; and
(b) The total dollar volume of checks sold
during the period, if applicable; and
(c) The total dollar volume of small loans
made during the period, if applicable; and
(d) The annual assessment fee calculation.
See WAC 208-630-400.
(3) Consolidated annual report (CAR). You
must submit a CAR on your Washington activities, in a form prescribed by the
director. The CAR must contain at least the following:
(a) For all licensees, the CAR must contain:
(i) The total number of employees and annual
payroll during the period;
(ii) The
total number and dollar volume of transactions during the period;
(iii) The total dollar amount of fees
collected during the period;
(iv)
The total number and dollar amount of undeposited checks taken or held in
connection with check cashing and small loan endorsement business at the end of
the period;
(v) The total number
and dollar amount of returned (NSF) checks taken or held in connection with
check cashing and small loan business at the end of the period, and the total
dollar amount of fees collected for returned (NSF) checks during the
period;
(vi) The total number and
dollar amount of charge-offs (losses), net of any recoveries, for the period;
and
(vii) The total dollar amount
of net income before and after taxes earned under authority of this
chapter.
(viii) Such other relevant
information as the director may require, in a form prescribed by the
director.
(b) For all
licensees with a small loan endorsement, the CAR must contain:
(i) The total dollar volume of small loans
made during the period, including payment plans made prior to December 31,
2009, and installment plans made after January 1, 2010;
(ii) The total number of loans made for the
period;
(iii) The total number of
borrowers for the period;
(iv) The
number of borrowers whose accounts were referred to collection
agencies;
(v) The number of loans
rescinded during the period;
(vi)
For reporting year 2010, the number of borrowers who entered into a payment
plan during 2009;
(vii) The number
of installment plans entered into for the period;
(viii) The number of borrowers who
defaulted;
(ix) The number of loans
made to borrowers to be paid through an ACH (automated clearing house) or other
electronic transaction;
(x) The
number of loans made to borrowers through other than a physical visit to the
licensee's location (e.g., internet, telephone, etc.); and
(xi) The number of active military borrowers
during the period.
(c)
For all licensees with small loan endorsements and total loan volume of at
least ten million dollars in principal for the reporting period, the CAR must
contain the following:
(i) The number of loans
per borrower for the period;
(ii)
The number of loans per military borrower during the period; and
(iii) The number of loans with terms in each
of the following categories for the period:
(A) One to seven days;
(B) Eight to fourteen days;
(C) Fifteen to twenty-one days;
(D) Twenty-two to thirty-one days;
and
(E) Thirty-two or more
days.
Statutory Authority:
RCW
43.320.040,
31.45.200, and 2009 c 510.
09-24-089, §
208-630-830, filed 12/1/09,
effective 1/1/10. Statutory Authority:
RCW
43.320.040. 08-16-092, §
208-630-830, filed 8/5/08,
effective 9/5/08. Statutory Authority:
RCW
31.04.165,
43.320.040,
31.45.030,
31.45.050,
31.45.200. 05-22-009, §
208-630-830, filed 10/21/05,
effective 11/21/05.
