Revised Code of Washington - RCW Title 30 Banks And Trust Companies - Chapter 30.56 Bank Stabilization Act
- 30.56.010 "Bank" and "directors" defined
In this chapter the word "bank" includes savings banks, mutual savings banks, and trust companies, and "directors" shall include trustees.[1955 c 33 § 30.56.010. Prior: ...
- 30.56.020 Postponement of payments on deposits -- Order -- Posting
The director is hereby empowered, upon the written application of the directors of a bank, if in his or her judgment the circumstances warrant it, ...
- 30.56.030 Business during postponement
During postponement of payments the bank shall remain open for business and be in charge of its officers, but shall not make any loans, investments ...
- 30.56.040 Deposits received during postponement
Deposits received during a period of postponement and for sixty days thereafter shall be kept separate from other assets of the bank, shall not draw ...
- 30.56.050 Plan for reorganization -- Conditions
At the request of the directors of a bank, the director may propose a plan for its reorganization, if in his or her judgment it ...
- 30.56.060 Approval of plan -- Unsecured claims
If, within ninety days after the filing of the plan, creditors having unsecured demands against the bank aggregating not less than three-fourths of the amount ...
- 30.56.070 No dividends until reductions paid
A bank for which such a plan has been put into effect shall not declare or pay a dividend or distribute any of its assets ...
- 30.56.080 Failure to pay in excess of plan, effect
The failure of a bank operating under such a plan to pay to a creditor at any time a sum greater than the plan then ...
- 30.56.090 New bank may be authorized
If the net assets of a bank operating under such a plan are sufficient to provide the capital and surplus of a newly organized bank ...
- 30.56.100 Chapter designated "bank stabilization act.
This chapter shall be known as the bank stabilization act.[1955 c 33 § 30.56.100. Prior: 1933 c 49 § 1; RRS § 3293-1.] ...
Last modified: April 7, 2009