1184wa

    On page 2, line 12, of the printed bill, delete "4" and insert "5".

    On page 6, after line 15, insert:

"    Section 5. That the code be amended by adding a NEW SECTION to read:

    A business development bank shall:

            (1)    Establish in this state the bank's headquarters in which a majority of the executive officers of the bank are physically located and work on a full-time basis, and in which the books and records of the bank are maintained;

            (2)    Establish in this state any location of the bank where loan or credit decisions are made and any location where credit decisions are communicated to the borrower; and

            (3)    Maintain in this state not less than thirty employees within twenty-four months following the bank's approval by the director, and subject to any periods to cure or penalty for failure to comply as the director establishes by rule promulgated in accordance with chapter 1-26.".