RCW 43.52.395

Maximum interest rate operating agency may pay member.

Applied in 1 court decision — leading case 104 Wash. 2d 353 - Public Utility District No. 1 v. Washington Public Power Supply System (1986)

Most recently applied in 104 Wash. 2d 353 - Public Utility District No. 1 v. Washington Public Power Supply System (February 1986)

1989 c 14 s 4; 1982 c 1 s 2.

(1) The maximum rate at which an operating agency shall add interest in repaying a member under RCW 43.52.391 may not exceed the higher of fifteen percent per annum or four percentage points above the equivalent coupon issue yield (as published by the Board of Governors of the Federal Reserve System) of the average bill rate for twenty-six week treasury bills as determined at the first bill market auction conducted during the preceding calendar month.

(2) The maximum rate specified in subsection (1) of this section is applicable to all advances and contributions made by each member to the agency prior to January 21, 1982, and to all renewals of such advances and contributions.

Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.