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