Revised Code of Washington - RCW Title 32 Mutual Savings Banks - Chapter 32.08 Organization And Powers

32.08.010 Authority to organize -- Incorporators -- Certificate
When authorized by the director, as hereinafter provided, not less than nine nor more than thirty persons may form a corporation to be known as ...

32.08.020 Notice of intention
At the time of executing the incorporation certificate, the proposed incorporators shall sign a notice of intention to organize the mutual savings bank, which shall ...

32.08.025 Limited liability company -- Organization or conversion -- Approval of director -- Conditions -- Application of chapter 25.15 RCW -- Definitions
(1) Notwithstanding any other provision of this title, if the conditions of this section are met, a savings bank, or a holding company of a ...

32.08.030 Submission of certificate -- Proof of service of notice
After the lapse of at least twenty-eight days from the date of the first due publication of the notice of intention to incorporate, and within ...

32.08.040 Examination and action by director
When any such certificate has been filed for examination the director shall thereupon ascertain from the best source of information at his or her command, ...

32.08.050 Appeal from adverse decision
From the director's refusal to issue a certificate of authorization, the applicants or a majority of them, may within thirty days from the date of ...

32.08.060 Procedure upon approval
In case of approval, the director shall forthwith give notice thereof to the proposed incorporators, and file one of the duplicate certificates in his or ...

32.08.061 Extension of period of existence -- Procedure
A mutual savings bank may amend its incorporation certificate to extend the period of its corporate existence for a further definite time or perpetually by ...

32.08.070 Authorization certificate
Before a mutual savings bank shall be authorized to do any business the director shall be satisfied that the corporation has in good faith complied ...

32.08.080 Conditions precedent to reception of deposits
Before such corporation shall be authorized to receive deposits or transact business other than the completion of its organization, the director shall be satisfied that: ...

32.08.090 Expense fund -- Agreement to contribute further -- Security
Before any mutual savings bank shall be authorized to do business, its incorporators shall create an expense fund from which the expense of organizing such ...

32.08.100 Guaranty fund
Before any mutual savings bank shall be authorized to do business, its incorporators shall create a guaranty fund for the protection of its depositors against ...

32.08.110 Guaranty fund -- Purpose
The contributions of the incorporators, or trustees of any such savings bank under the provisions of RCW 32.08.100, and the sums credited thereto from its ...

32.08.115 Guaranty fund -- Payment of interest and dividends -- Legislative declaration
It is hereby recognized that the savings banks of the state of Washington are affected adversely by the uncertainties and ambiguities in the law relating ...

32.08.116 Guaranty fund -- Payment of interest and dividends -- When authorized
A savings bank not having net earnings or undivided profits or other surplus may pay interest and dividends from its guaranty fund upon prior written ...

32.08.120 Guaranty fund -- Replenishment -- Dividends
(1) If at the close of any dividend period the guaranty fund of a savings bank is less than ten percent of the amount due ...

32.08.130 Reimbursement fund
When the portion of the guaranty fund created from earnings amounts to not less than five thousand dollars (including in the case of a savings ...

32.08.140 Powers of bank
Every mutual savings bank incorporated under this title shall have, subject to the restrictions and limitations contained in this title, the following powers: (1) To ...

32.08.142 Additional powers -- Powers of federal mutual savings bank
Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a mutual savings bank has under the laws ...

32.08.145 Safe deposit companies
See chapter 22.28 RCW. ...

32.08.146 Additional powers -- Powers and authorities granted to federal mutual savings banks after July 27, 2003 -- Restrictions
A mutual savings bank may exercise the powers and authorities granted, after July 27, 2003, to federal mutual savings banks or their successors under federal ...

32.08.148 Operation of branch outside Washington--Powers and authorities
In addition to all powers and authorities, express or implied, that a mutual savings bank has under the laws of this state, a mutual savings ...

32.08.150 Certificates of deposit
A mutual savings bank may issue savings certificates of deposit in such form and upon such terms as the bank may determine.[1981 c 86 § ...

32.08.153 Additional powers -- Powers and authorities of national banks as of July 27, 2003
Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a mutual savings bank has under the laws ...

32.08.155 Additional powers -- Powers and authorities conferred upon national banks after July 27, 2003 -- Restrictions
Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a mutual savings bank has under the laws ...

32.08.157 Additional powers -- Powers and authorities of banks
Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a mutual savings bank has under this title, ...

32.08.160 Writing of fire insurance restricted
When a savings bank is itself acting as an insurance agent, a trustee, officer, or employee of the bank shall not act as an insurance ...

32.08.170 Effect of failure to organize or commence business
See RCW 30.08.070. ...

32.08.180 Extension of existence
See RCW 30.08.080. ...

32.08.190 May borrow from home loan bank
See RCW 30.32.030. ...

32.08.210 Power to act as trustee -- Authorized trusts -- Limitations -- Application to act as trustee, fee -- Approval or refusal of application -- Right of appeal -- Use of word "trust"
A mutual savings bank shall have the power to act as trustee under: (1) A trust established by an inter vivos trust agreement or under ...

32.08.215 Power to act as trustee for common trust funds under multiple trust agreements -- Conditions
No mutual savings bank or wholly owned subsidiary thereof shall act as trustee for common trust funds established for the benefit of more than one ...

32.08.220 Findings -- Purpose
The legislature finds that [the] state of Washington needs investment of funds from out of state and from investors in the state of Washington to ...

32.08.225 Sale, purchase, etc., of interest rate exchange agreements, loans, or interests therein
Any mutual savings bank may through any device sell, purchase, exchange, issue evidence of a sale or exchange of, or in any manner deal in ...

32.08.230 Restrictions and requirements by director
Any mutual savings bank engaging in any activity contemplated in RCW 32.08.225, whereby it holds or purchases subordinated securities, issues letters of credit to secure ...