§ 32.20.320. Investment of funds
The trustees of every savings bank shall as soon as practicable invest the moneys deposited with it in the securities prescribed in this title.
The purchase by a savings bank of a negotiable certificate of deposit or similar security issued by a bank need not be considered a deposit if the certificate or security is eligible for investment by a savings bank under any other provision of this title.
[1969 c 55 § 8; 1955 c 13 § 32.20.320. Prior: 1929 c 74 § 25; 1925 ex.s. c 86 § 11; 1915 c 175 § 20; RRS § 3381-25.]
Sections: Previous 32.20.240 32.20.253 32.20.265 32.20.280 32.20.285 32.20.300 32.20.310 32.20.320 32.20.330 32.20.335 32.20.340 32.20.350 32.20.370 32.20.380 32.20.390 NextLast modified: April 7, 2009