21.20.702  <<  21.20.705 >>   21.20.710

Debenture companiesDefinitions.

*** CHANGE IN 2020 *** (SEE 6131.SL) ***
When used in this chapter, unless the context otherwise requires:
(1) "Debenture company" means an issuer of any note, debenture, or other debt obligation for money used or to be used as capital or operating funds of the issuer, which is offered or sold in this state, and which issuer is engaged or proposes to engage in the business of investing, reinvesting, owning, holding, or trading in: (a) Notes, or other debt obligations, whether or not secured by real or personal property; (b) vendors' interests in real estate contracts; (c) real or personal property to be leased to third parties; or (d) real or personal property. The term "debenture company" does not include an issuer by reason of any of its securities which are exempt from registration under RCW 21.20.310 or offered or sold in transactions exempt from registration under RCW 21.20.320 (1) or (8); and
(2) "Acquiring party" means any person becoming or attempting to become a controlling person under RCW 21.20.717.


SeverabilityEffective dateImplementationApplication1988 c 244: See notes following RCW 21.20.700.
Effective dateApplication1987 c 421: "Sections 1 through 8 of this act shall take effect January 1, 1988. The director of licensing may take whatever action is necessary to implement this act on its effective date. This act applies to any person, individual, corporation, partnership, or association whether or not in existence on or prior to January 1, 1988." [ 1987 c 421 § 12.]
Severability1987 c 421: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1987 c 421 § 10.]
Effective dateConstruction1973 1st ex.s. c 171: See RCW 21.20.805.
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