Washington Administrative Code
Title 460 - Financial Institutions, Department of (Securities Division)
Chapter 460-80 - Franchise registration
Section 460-80-060 - Interpretive opinions and no-action letters
Current through Register Vol. 24-06, March 15, 2024
The director, in his or her discretion, may honor requests from interested persons for no-action letters and interpretive opinions pursuant to RCW 19.100.250. The following procedures must be followed in requesting a no-action letter or interpretive opinion from the director:
(1) The request must be submitted to the director in writing. The letter should be captioned with the name of the party who will be relying upon the director's response and should indicate that a no-action letter or interpretive opinion is sought.
(2) The requesting letter should cite the particular statutes or rules for which interpretation or no-action is sought.
(3) The names of all involved companies and parties should be disclosed. The director does not issue interpretive or no-action letters relating to unnamed companies or individuals or hypothetical situations, nor on matters of pending, or in preparation for, litigation.
(4) The request should be tailored to resolving the immediate issues and should not attempt to discuss every possible situation that may arise in the future.
(5) The letter should be concise and contain all material facts necessary to resolve the issues at hand. Relevant supporting documents may be included, but are not a substitute for subsection (6) of this section.
(6) It is important that the letter identify the issues at hand, the proposed resolution, and the precedents or other legal authority supporting that position.
The director may decline to respond to letters that are not prepared in accordance with the above listed procedures.
Statutory Authority: Chapter 19.100 RCW, RCW 19.100.250, 19.100.010, 19.100.030, 19.100.040, 19.100.050, 19.100.070, 19.100.080, 19.100.100, and 19.100.110. 09-22-050, § 460-80-060, filed 10/29/09, effective 11/29/09.
