Advanced Search

WAC 388-101-3600: Client Loans

Published: 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

WACs > Title 388 > Chapter 388-101 > Section 388-101-3600



Agency filings affecting this section

WAC 388-101-3600

Client loans.

(1) The service provider may loan funds to a client from the service provider's funds and collect the debt from the client in installments.
(2) The client's service provider must not:
(a) Charge the client interest for any money loaned; or
(b) Borrow funds from the client.
(3) The provider must keep the following loan documentation for each loan:
(a) A loan agreement signed by the client or the client's legal representative;
(b) Amount of the loan;
(c) Payments on the loan balance; and
(d) The current balance owed.
[Statutory Authority: Chapter 71A.12 RCW. WSR 08-02-022, § 388-101-3600, filed 12/21/07, effective 2/1/08.]