§ 87.68.090. Security for deposits
Upon the designation of any bank by the board of control as in RCW 87.68.070 through 87.68.140 provided, the bank shall furnish security for any deposits by mortgage, pledge or hypothecation of bank assets or otherwise in such manner as may be agreed upon between the board of control and the bank, or in lieu thereof, the bank shall file with the board of control a surety bond to such board of control, properly executed by some reliable surety company qualified under the laws of this state to do business therein, in the maximum amount of deposits designated by said board to be carried in such bank, conditioned for the prompt and faithful payment thereof on checks drawn by the officer or agent fully authorized and designated by such board.
[1945 c 163 § 2; Rem. Supp. 1945 § 7525-41.]
Sections: Previous 87.68.010 87.68.020 87.68.030 87.68.040 87.68.050 87.68.060 87.68.070 87.68.090 87.68.100 87.68.110 87.68.120 87.68.130 87.68.140 NextLast modified: April 7, 2009