Revised Code of Washington - RCW Title 33 Savings And Loan Associations - Section 33.16.060 Fiduciary relationship of directors and officers

§ 33.16.060. Fiduciary relationship of directors and officers

Directors and officers of an association shall be deemed to stand in a fiduciary relation to the association and shall discharge the duties of their respective positions in good faith and with that diligence, care, and skill which ordinary, prudent persons would exercise under similar circumstances in like position.

[1982 c 3 § 32; 1945 c 235 § 20; Rem. Supp. 1945 § 3717-139. Prior: 1933 c 183 § 15; 1925 ex.s. c 144 § 3; 1919 c 169 § 3; 1913 c 110 § 4.]

Notes:
     Severability -- 1982 c 3: See note following RCW 33.04.002.

Sections:  Previous  33.16.010  33.16.020  33.16.030  33.16.040  33.16.050  33.16.060  33.16.080  33.16.090  33.16.120  33.16.130  33.16.150  33.16.170  Next

Last modified: April 7, 2009