§ 30.44.110. Preferences prohibited -- Penalty
Every transfer of its property or assets by any bank or trust company in this state, made in contemplation of insolvency, or after it shall have become insolvent, with a view to the preference of one creditor over another, or to prevent the equal distribution of its property and assets among its creditors, shall be void. Every director, officer, or employee making any such transfer is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[2003 c 53 § 190; 1955 c 33 § 30.44.110. Prior: 1917 c 80 § 55; RRS § 3262.]
Notes:
Intent -- Effective date -- 2003 c 53: See notes following RCW 2.48.180.
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Last modified: April 7, 2009