AN ACT Relating to establishing the Washington State Public Bank; amending RCW 42.56.270, and 42.56.400; adding a new section to chapter 39.58 RCW; adding a new section to chapter 41.06 RCW; adding a new chapter to Title 43 RCW; creating a new section; providing an effective date; providing expiration dates; and declaring an emergency.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 FINDINGS--INTENT.
(1) The legislature finds that there are significant public infrastructure needs of the state that are unmet, and that the level of unmet need has been exacerbated by the economic downturn. Therefore, the legislature intends to create the Washington State Public Bank as an institution that amasses sufficient capital reserves to meet our State's Infrastructure needs now and in the future.
(2) The legislature intends that the Public Bank may facilitate investment in, and financing of, public infrastructure systems that will increase public health, safety, and quality of life, improve environmental conditions, and promote community vitality and economic growth;
(3) The mission of the trust is to use Washington's public resources for the benefit of the people and economy of the state. The legislature intends for the Public Bank to apply business strategies to manage revenues while concurrently meeting identified needs and strategic opportunities across the state. In achieving its purpose of improving public infrastructure, the legislature intends for the Public Bank to adhere to the following priorities:
(a) Institutional safety and soundness;
(b) Long-term viability;
(c) Social return and monetary return on investments;
(d) Prudent and best banking and business practices;
(e) Highest ethical, accountability, and transparency standards; and
(f) Insulation from political influence.
NEW SECTION. Sec. 2 DEFINITIONS. The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
(1) "Board" means the advisory board of the Washington State Public Bank.
(2) "Commission" means the Washington State Public Bank commission.
(3) "Department" means the department of financial institutions.
(4) "Director" means the director of the department of financial institutions.
(5) "Public infrastructure system" means a system of a local government or political subdivision, a special purpose district, a public school district, an institution of higher education as defined in RCW 28B.10.016, or the state, including but not limited to a system involving water treatment; flood control; energy efficiency; transportation infrastructure; telecommunications infrastructure; public safety facilities; schools and educational facilities;
(6) "State-chartered bank" means any corporation organized under the laws of this state that is engaged in banking, other than a trust company, savings association, or a mutual savings bank. It does not include the Washington State Public Bank.
(7) "State moneys" has the same meaning as in RCW 43.85.200.
(8) "Treasurer" means the treasurer of the state of Washington.
(9) "Public Bank" means the Washington State Public Bank.
NEW SECTION. Sec. 3 CREATION. The Washington State Public Bank is created.
NEW SECTION. Sec. 4 COMMISSION.
(1) The Washington State Public Bank commission is created as the primary governing authority of the Public Bank. The commission shall consist of seven Statewide publicly elected officials: the governor, the lieutenant governor, the secretary of state, the attorney general, the superintendent of public instruction, the commissioner of public lands and the state treasurer.
(2) The commission may adopt rules regarding the:
(a) Safety and soundness standards of the Public Bank;
(b) Transparency requirements for Public Bank operations;
(e) Ethics and conflict of interest requirements for the commission, the board, and officers and employees of the Public Bank, including rules to ensure that they perform their functions in compliance with chapter 42.52 RCW; and
(f) Other topics needed for efficient administration of the Public Bank.
(3) The commission shall commence Public Bank operations by July 1st of the year following passage of a bill capitalizing the Washington State Public Bank.
(4) The commission may delegate to the Public Bank president such duties and powers as deemed necessary to carry on the business of the Public Bank and enforce this chapter efficiently and effectively. The commission may not delegate its rule-making or policy-making authority.
(5) The commission may adopt policies and procedures for its own governance.
(6) The commission may establish technical advisory committees or consult with public and private sector experts in substantive areas related to the trust's mission, objectives, and duties.
NEW SECTION. Sec. 5 TRANSITION BOARD.
(1)(a) The trust transition board is established, with members as provided in this subsection.
(i) The president of the senate shall appoint one member from each of the two largest caucuses of the senate.
(ii) The speaker of the house of representatives shall appoint one member from each of the two largest caucuses of the house of representatives.
(iii) The president of the senate and the speaker of the house of representatives jointly shall appoint seven citizen members with a background in banking or financial issues.
(b) The president of the senate and speaker of the house of representatives jointly shall select the chair from among the citizen membership. The chair shall convene the initial meeting of the trust transition board within forty-five days after the effective date of this section.
(2) The trust transition board shall develop and recommend the following to the commission within the timeline established by the commission:
(a) A start-up business plan for the trust that includes plans and timelines for functions that are new and functions transitioning to the trust that were previously performed by other entities;
(b) Other items requested by the commission in order to commence Public Bank operations by July 1st of the year following passage of a bill capitalizing the Washington State Public Bank.
(3) Legislative members of the Public Bank transition board must be reimbursed for travel expenses in accordance with RCW 44.04.120. Nonlegislative members, except those representing an employer or organization, are entitled to be reimbursed for expenses incurred in the discharge of their duties under chapter 43.--- RCW (the new chapter created in section 27 of this act) in accordance with RCW 43.03.050 and 43.03.060.
(4) The Public Bank transition board may appoint an interim president and other necessary staff who are exempt from the provisions of chapter 41.06 RCW, and who serve at the board's pleasure on such terms and conditions as the board determines but subject to chapter 42.52 RCW. The department must provide technical assistance to the Public Bank transition board. The board may also contract with additional persons who have specific technical expertise if the expertise is necessary to carry out the requirements of this section.
(5) This section takes effect upon passage of a bill capitalizing the Washington State Public Bank and expires July 1 of the year after passage of a bill capitalizing the Washington State Public Bank.
NEW SECTION. Sec. 6 DEPOSIT OF PUBLIC FUNDS.
(1) The Public Bank shall serve as the depository for funds collected to capitalize the Public Bank under the terms defined in the bill to capitalize the public bank and as determined and authorized by the commission. The commission shall establish a process and time frame for the deposit of these funds into the Public Bank. In determining whether the Public Bank has built sufficient capacity to hold and manage these funds, the commission shall consider the minimum leverage capital requirements specified in 12 C.F.R. Sec. 325.3 (2012).
(2) The treasurer shall deposit these funds in the Public Bank in accordance with the time frame and guidelines determined by the commission under this subsection.
(3) All deposits in the Public Bank are guaranteed by the state rather than insured by the federal deposit insurance corporation.
(4) All income earned by the Public Bank on funds that are deposited in or invested with or by the Public Bank must be credited to and become a part of the revenues and income of the Public Bank except as otherwise required by law.
(5) The Public Bank may accept deposits of public funds, but is exempt from the requirements of chapter 39.58 RCW.
(6) The Public Bank may accept funds from any source, including federal funds or other public funds.
(7) The commission shall periodically review state accounts that contain public funds that are not state moneys, and make recommendations to the governor and the appropriate committees of the legislature as to which accounts should be deposited in the Public Bank.
(8) The Public Bank must transfer earnings, beyond those necessary for continued sound operation of the Public Bank, as determined by the commission, to the state general fund.
(9) To facilitate ongoing legislative oversight, the commission shall establish a separate administrative account within the Public Bank from which its administrative and planning costs must be funded. In each biennial operating budget, the legislature shall authorize the commission to incur a maximum expenditure from this administrative account.
(10) In an amount not to exceed the authorized expenditures, the commission shall proportionally allocate interest earnings from accounts and moneys under its management and shall transfer this amount to the administrative fund. This transfer shall precede the distribution of remaining earnings under applicable statutes.
NEW SECTION. Sec. 7 FEDERAL RESERVE SYSTEM MEMBERSHIP.
The Public Bank may become a member of the federal reserve system.
NEW SECTION. Sec. 8 INFRASTRUCTURE FUNDING.
The Public Bank is authorized to manage and invest its funds to finance construction, rehabilitation, replacement, and improvement of new and existing public infrastructure systems. Before initiating operations, the commission must present an implementation plan and any necessary legislation to the governor and appropriate legislative committees, that:
(1) Identifies the public infrastructure systems that the Public Bank plans to target initially, with public schools in the greatest need of replacement being prioritized;
(2) Identifies any existing state programs that the Public Bank recommends be transferred under its umbrella, and the steps and timelines for the transitions;
(3) Demonstrates how the trust plans to maximize revenues and public benefit.
NEW SECTION. Sec. 9 LEGISLATIVE AND STATE AGENCIES AUTHORITIES.
Nothing in this chapter affects:
(1) The ability of the legislature to appropriate from public accounts managed by the Public Bank, including the ability to place any conditions or limitations on those appropriations; or
(2) After the legislature appropriates moneys from public accounts managed by the Public Bank, the use of those moneys by the state agencies receiving the appropriations.
NEW SECTION. Sec. 10 MANAGEMENT.
(1) The commission shall appoint a Public Bank president. The president is exempt from the provisions of chapter 41.06 RCW. The president shall serve at the commission's pleasure, on such terms and conditions as the commission determines, but subject to chapter 42.52 RCW.
(2) The president shall provide support to the commission and the advisory board, carry out Public Bank policies and programs, and exercise additional authority as may be delegated by the commission.
(3) Subject to available funding and consistent with commission direction, the Public Bank president:
(a) May employ such additional personnel as are necessary to the bank's operations. This employment shall be in accordance with the state civil service law, chapter 41.06 RCW; and
(b) May contract with persons who have the technical expertise needed to carry out a specific, time-limited project.
NEW SECTION. Sec. 11 ADVISORY BOARD.
(1)(a) A Public Bank advisory board consisting of nine members is created to review the Public Bank's operations and make recommendations relating to the Public Bank's management, services, policies, and procedures.
(b) The governor shall appoint members of the advisory board, subject to confirmation by the senate. The members of the advisory board must represent a diversity of experience relevant to activities of the Public Bank and awareness of the public needs that the Public Bank was created to serve. Advisory board members serve at the pleasure of the governor.
(c) The board shall choose its chair from among its membership.
(2) The term of the members is three years. Three of the initial board members must be appointed to serve an initial term of three years, three must be appointed to serve an initial term of two years, and the three remaining members must be appointed to serve an initial term of one year. All subsequent terms are three years. To ensure that the board can continue to act, a member whose term expires shall continue to serve until his or her replacement is appointed. In the case of any vacancy on the board for any reason, the governor shall appoint a new member to serve out the term of the person whose position has become vacant. A board member may be removed for cause by the governor.
(3) Members of the advisory board are entitled to reimbursement for expenses incurred in the discharge of their duties under this chapter, as provided in RCW 43.03.050 and 43.03.060.
NEW SECTION. Sec. 12 FINANCIAL OVERSIGHT AND AUDIT.
(1) The Public Bank must maintain capital adequacy and other standard indicators of safety and soundness as are appropriate for a publicly owned financial institution.
(2) The director shall examine the Public Bank, taking into consideration the unique circumstances of a publicly owned financial institution. The Public Bank shall pay the director for the reasonable costs of examinations.
(3) The state auditor shall conduct an annual post-audit on all accounts and financial transactions of the Public Bank.
NEW SECTION. Sec. 13 REPORTING REQUIREMENTS. (1) The Public Bank shall submit quarterly reports to the commission in a manner and form prescribed by the commission.
(2) The commission shall make an annual report to the legislature on the affairs of the Public Bank by December 1st of each year.
NEW SECTION. Sec. 14 ETHICAL REQUIREMENTS.
The Public Bank may not make a loan to any advisory board member, the president, or employees of the Public Bank. Advisory board members, the president, and employees of the Public Bank must follow applicable ethical requirements in chapter 42.52 RCW and in rules, policies, and procedures adopted by the commission.
NEW SECTION. Sec. 15 FEES AND TAXES. The Public Bank is exempt from payment of all fees and taxes levied by the state or any of its subdivisions.
NEW SECTION. Sec. 16 PUBLIC BANK RECORDS.
(1) Under RCW 42.56.270 and 42.56.400, certain Public Bank business records and records of the department relating to the Public Bank are exempt from public disclosure.
(2) Financial and commercial information and records submitted to either the department or the commission for the purpose of administering this chapter may be shared between the department and the treasurer. These records may also be used in any suit or administrative hearing involving any provision of this chapter.
(3) This section does not prohibit:
(a) The issuance of general statements based on the reports of persons subject to this chapter as long as the statements do not identify the information furnished by any person; or
(b) The publication by the director or the commission of the name of any person violating this chapter and a statement of the manner of the violation of that person.
NEW SECTION. Sec. 17 CAPITALIZATION. The Public Bank shall be capitalized by passage of a bill by the legislature, or a referendum to or by the people or passage of an initiative by the people providing the funding for this capitalization.
NEW SECTION. Sec. 18 A new section is added to chapter 39.58 RCW to read as follows: The Washington State Public Bank created in section 3 of this act may accept deposits of public funds, but is not a public depositary and is not subject to the requirements of this chapter.
NEW SECTION. Sec. 19 A new section is added to chapter 41.06 RCW to read as follows: In addition to the exemptions under RCW 41.06.070, the provisions of this chapter do not apply to the president of the Washington State Public Bank in section 11 of this act.
Sec. 20 RCW 42.56.270 and 2011 1st sp.s. c 14 s 15 are each amended to read as follows:
The following financial, commercial, and proprietary information is exempt from disclosure under this chapter:
(1) Valuable formulae, designs, drawings, computer source code or object code, and research data obtained by any agency within five years of the request for disclosure when disclosure would produce private gain and public loss;
(2) Financial information supplied by or on behalf of a person, firm, or corporation for the purpose of qualifying to submit a bid or proposal for (a) a ferry system construction or repair contract as required by RCW 47.60.680 through 47.60.750 or (b) highway construction or improvement as required by RCW 47.28.070;
(3) Financial and commercial information and records supplied by private persons pertaining to export services provided under chapters 43.163 and 53.31 RCW, and by persons pertaining to export projects under RCW 43.23.035;
(4) Financial and commercial information and records supplied by businesses or individuals during application for loans or program services provided by chapters 43.325, 43.163, 43.160, 43.330, 43.---(the new chapter created in section 23 of this act), and 43.168 RCW, or during application for economic development loans or program services provided by any local agency;
(5) Financial information, business plans, examination reports, and any information produced or obtained in evaluating or examining a business and industrial development corporation organized or seeking certification under chapter 31.24 RCW;
(6) Financial and commercial information supplied to the state investment board by any person when the information relates to the investment of public trust or retirement funds and when disclosure would result in loss to such funds or in private loss to the providers of this information;
(7) Financial and valuable trade information under RCW 51.36.120;
(8) Financial, commercial, operations, and technical and research information and data submitted to or obtained by the clean Washington center in applications for, or delivery of, program services under chapter 70.95H RCW;
(9) Financial and commercial information requested by the public stadium authority from any person or organization that leases or uses the stadium and exhibition center as defined in RCW 36.102.010;
(10)(a) Financial information, including but not limited to account numbers and values, and other identification numbers supplied by or on behalf of a person, firm, corporation, limited liability company, partnership, or other entity related to an application for a horse racing license submitted pursuant to RCW 67.16.260(1)(b), liquor license, gambling license, or lottery retail license;
(b) Internal control documents, independent auditors' reports and financial statements, and supporting documents: (i) Of house-banked social card game licensees required by the gambling commission pursuant to rules adopted under chapter 9.46 RCW; or (ii) submitted by tribes with an approved tribal/state compact for class III gaming;
(11) Proprietary data, trade secrets, or other information that relates to: (a) A vendor's unique methods of conducting business; (b) data unique to the product or services of the vendor; or (c) determining prices or rates to be charged for services, submitted by any vendor to the department of social and health services for purposes of the development, acquisition, or implementation of state purchased health care as defined in RCW 41.05.011;
(12)(a) When supplied to and in the records of the department of commerce:
(i) Financial and proprietary information collected from any person and provided to the department of commerce pursuant to RCW 43.330.050(8); and
(ii) Financial or proprietary information collected from any person and provided to the department of commerce or the office of the governor in connection with the siting, recruitment, expansion, retention, or relocation of that person's business and until a siting decision is made, identifying information of any person supplying information under this subsection and the locations being considered for siting, relocation, or expansion of a business;
(b) When developed by the department of commerce based on information as described in (a)(i) of this subsection, any work product is not exempt from disclosure;
(c) For the purposes of this subsection, "siting decision" means the decision to acquire or not to acquire a site;
(d) If there is no written contact for a period of sixty days to the department of commerce from a person connected with siting, recruitment, expansion, retention, or relocation of that person's business, information described in (a)(ii) of this subsection will be available to the public under this chapter;
(13) Financial and proprietary information submitted to or obtained by the department of ecology or the authority created under chapter 70.95N RCW to implement chapter 70.95N RCW;
(14) Financial, commercial, operations, and technical and research information and data submitted to or obtained by the life sciences discovery fund authority in applications for, or delivery of, grants under chapter 43.350 RCW, to the extent that such information, if revealed, would reasonably be expected to result in private loss to the providers of this information;
(15) Financial and commercial information provided as evidence to the department of licensing as required by RCW 19.112.110 or 19.112.120, except information disclosed in aggregate form that does not permit the identification of information related to individual fuel licensees;
(16) Any production records, mineral assessments, and trade secrets submitted by a permit holder, mine operator, or landowner to the department of natural resources under RCW 78.44.085;
(17)(a) Farm plans developed by conservation districts, unless permission to release the farm plan is granted by the landowner or operator who requested the plan, or the farm plan is used for the application or issuance of a permit;
(b) Farm plans developed under chapter 90.48 RCW and not under the federal clean water act, 33 U.S.C. Sec. 1251 et seq., are subject to RCW 42.56.610 and 90.64.190;
(18) Financial, commercial, operations, and technical and research information and data submitted to or obtained by a health sciences and services authority in applications for, or delivery of, grants under RCW 35.104.010 through 35.104.060, to the extent that such information, if revealed, would reasonably be expected to result in private loss to providers of this information;
(19) Information gathered under chapter 19.85 RCW or RCW 34.05.328 that can be identified to a particular business;
(20) Financial and commercial information submitted to or obtained by the University of Washington, other than information the university is required to disclose under RCW 28B.20.150, when the information relates to investments in private funds, to the extent that such information, if revealed, would reasonably be expected to result in loss to the University of Washington consolidated endowment fund or to result in private loss to the providers of this information; and
(21) Financial, commercial, operations, and technical and research information and data submitted to or obtained by innovate Washington in applications for, or delivery of, grants and loans under chapter 43.333 RCW, to the extent that such information, if revealed, would reasonably be expected to result in private loss to the providers of this information.
Sec. 21 RCW 42.56.400 and 2010 c 172 s 2 and 2010 c 97 s 3 are each reenacted and amended to read as follows:
The following information relating to insurance and financial institutions is exempt from disclosure under this chapter:
(1) Records maintained by the board of industrial insurance appeals that are related to appeals of crime victims' compensation claims filed with the board under RCW 7.68.110;
(2) Information obtained and exempted or withheld from public inspection by the health care authority under RCW 41.05.026, whether retained by the authority, transferred to another state purchased health care program by the authority, or transferred by the authority to a technical review committee created to facilitate the development, acquisition, or implementation of state purchased health care under chapter 41.05 RCW;
(3) The names and individual identification data of either all owners or all insureds, or both, received by the insurance commissioner under chapter 48.102 RCW;
(4) Information provided under RCW 48.30A.045 through 48.30A.060;
(5) Information provided under RCW 48.05.510 through 48.05.535, 48.43.200 through 48.43.225, 48.44.530 through 48.44.555, and 48.46.600 through 48.46.625;
(6) Examination reports and information obtained by the department of financial institutions from banks under RCW 30.04.075, from savings banks under RCW 32.04.220, from savings and loan associations under RCW 33.04.110, from credit unions under RCW 31.12.565, from the Washington investment trust under chapter 43.--- RCW (the new chapter created in section 23 of this act), from check cashers and sellers under RCW 31.45.030(3), and from securities brokers and investment advisers under RCW 21.20.100, all of which is confidential and privileged information;
(7) Information provided to the insurance commissioner under RCW 48.110.040(3);
(8) Documents, materials, or information obtained by the insurance commissioner under RCW 48.02.065, all of which are confidential and privileged;
(9) Confidential proprietary and trade secret information provided to the commissioner under RCW 48.31C.020 through 48.31C.050 and 48.31C.070;
(10) Data filed under RCW 48.140.020, 48.140.030, 48.140.050, and 7.70.140 that, alone or in combination with any other data, may reveal the identity of a claimant, health care provider, health care facility, insuring entity, or self-insurer involved in a particular claim or a collection of claims. For the purposes of this subsection:
(a) "Claimant" has the same meaning as in RCW 48.140.010(2).
(b) "Health care facility" has the same meaning as in RCW 48.140.010(6).
(c) "Health care provider" has the same meaning as in RCW 48.140.010(7).
(d) "Insuring entity" has the same meaning as in RCW 48.140.010(8).
(e) "Self-insurer" has the same meaning as in RCW 48.140.010(11);
(11) Documents, materials, or information obtained by the insurance commissioner under RCW 48.135.060;
(12) Documents, materials, or information obtained by the insurance commissioner under RCW 48.37.060;
(13) Confidential and privileged documents obtained or produced by the insurance commissioner and identified in RCW 48.37.080;
(14) Documents, materials, or information obtained by the insurance commissioner under RCW 48.37.140;
(15) Documents, materials, or information obtained by the insurance commissioner under RCW 48.17.595;
(16) Documents, materials, or information obtained by the insurance commissioner under RCW 48.102.051(1) and 48.102.140 (3) and (7)(a)(ii);
(17) Documents, materials, or information obtained by the insurance commissioner in the commissioner's capacity as receiver under RCW 48.31.025 and 48.99.017, which are records under the jurisdiction and control of the receivership court. The commissioner is not required to search for, log, produce, or otherwise comply with the public records act for any records that the commissioner obtains under chapters 48.31 and 48.99 RCW in the commissioner's capacity as a receiver, except as directed by the receivership court; and
(18) Data, information, and documents provided by a carrier pursuant to section 1, chapter 172, Laws of 2010.
Sec. 22 RCW 42.56.400 and 2011 c 188 s 21 are each amended to read as follows:
The following information relating to insurance and financial institutions is exempt from disclosure under this chapter:
(1) Records maintained by the board of industrial insurance appeals that are related to appeals of crime victims' compensation claims filed with the board under RCW 7.68.110;
(2) Information obtained and exempted or withheld from public inspection by the health care authority under RCW 41.05.026, whether retained by the authority, transferred to another state purchased health care program by the authority, or transferred by the authority to a technical review committee created to facilitate the development, acquisition, or implementation of state purchased health care under chapter 41.05 RCW;
(3) The names and individual identification data of either all owners or all insureds, or both, received by the insurance commissioner under chapter 48.102 RCW;
(4) Information provided under RCW 48.30A.045 through 48.30A.060;
(5) Information provided under RCW 48.05.510 through 48.05.535, 48.43.200 through 48.43.225, 48.44.530 through 48.44.555, and 48.46.600 through 48.46.625;
(6) Examination reports and information obtained by the department of financial institutions from banks under RCW 30.04.075, from savings banks under RCW 32.04.220, from savings and loan associations under RCW 33.04.110, from credit unions under RCW 31.12.565, from the Washington Public Bank under chapter 43.--- RCW (the new chapter created in section 23 of this act) from check cashers and sellers under RCW 31.45.030(3), and from securities brokers and investment advisers under RCW 21.20.100, all of which is confidential and privileged information;
(7) Information provided to the insurance commissioner under RCW 48.110.040(3);
(8) Documents, materials, or information obtained by the insurance commissioner under RCW 48.02.065, all of which are confidential and privileged;
(9) Confidential proprietary and trade secret information provided to the commissioner under RCW 48.31C.020 through 48.31C.050 and 48.31C.070;
(10) Data filed under RCW 48.140.020, 48.140.030, 48.140.050, and 7.70.140 that, alone or in combination with any other data, may reveal the identity of a claimant, health care provider, health care facility, insuring entity, or self-insurer involved in a particular claim or a collection of claims. For the purposes of this subsection:
(a) "Claimant" has the same meaning as in RCW 48.140.010(2).
(b) "Health care facility" has the same meaning as in RCW 48.140.010(6).
(c) "Health care provider" has the same meaning as in RCW 48.140.010(7).
(d) "Insuring entity" has the same meaning as in RCW 48.140.010(8).
(e) "Self-insurer" has the same meaning as in RCW 48.140.010(11);
(11) Documents, materials, or information obtained by the insurance commissioner under RCW 48.135.060;
(12) Documents, materials, or information obtained by the insurance commissioner under RCW 48.37.060;
(13) Confidential and privileged documents obtained or produced by the insurance commissioner and identified in RCW 48.37.080;
(14) Documents, materials, or information obtained by the insurance commissioner under RCW 48.37.140;
(15) Documents, materials, or information obtained by the insurance commissioner under RCW 48.17.595;
(16) Documents, materials, or information obtained by the insurance commissioner under RCW 48.102.051(1) and 48.102.140 (3) and (7)(a)(ii);
(17) Documents, materials, or information obtained by the insurance commissioner in the commissioner's capacity as receiver under RCW 48.31.025 and 48.99.017, which are records under the jurisdiction and control of the receivership court. The commissioner is not required to search for, log, produce, or otherwise comply with the public records act for any records that the commissioner obtains under chapters 48.31 and 48.99 RCW in the commissioner's capacity as a receiver, except as directed by the receivership court;
(18) Documents, materials, or information obtained by the insurance commissioner under RCW 48.13.151; and
(19) Data, information, and documents provided by a carrier pursuant to section 1, chapter 172, Laws of 2010.
NEW SECTION. Sec. 23 Sections 1 through 4 and 6 through 17 of this act constitute a new chapter in Title 43 RCW.
NEW SECTION. Sec. 24 This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately upon passage of a bill capitalizing the Public Bank.
NEW SECTION. Sec. 25 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.
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