RCW 30A.44.220
Disposition of proceeds—Escheat.
The proceeds of such sale shall be deposited by the director in a bank to his or her credit, in trust for the benefit of the person entitled thereto, and shall be paid by him or her to such person upon receipt of satisfactory evidence of his or her right thereto.
All moneys so deposited remaining unclaimed for five years after deposit shall escheat to the state for the benefit of the permanent school fund and shall be paid by the director into the state treasury. It shall not be necessary to have the escheat adjudged in a suit or action.
[ 2014 c 37 § 238; 1994 c 92 § 126; 1955 c 33 § 30.44.220. Prior: 1947 c 148 § 5; Rem. Supp. 1947 § 3281-5. Formerly RCW 30.44.220.]
Structure Revised Code of Washington
Title 30A - Washington Commercial Bank Act
Chapter 30A.44 - Insolvency and Liquidation.
30A.44.020 - Director may order levy of assessment.
30A.44.030 - Director's right to take possession may be contested.
30A.44.040 - Notice of taking possession.
30A.44.050 - Powers and duties of director.
30A.44.060 - Notice to creditors—Claims.
30A.44.070 - Inventory—List of claims.
30A.44.080 - Objections to approved claims.
30A.44.100 - Receiver prohibited except in emergency.
30A.44.110 - Preferences prohibited—Penalty.
30A.44.120 - Receiving deposits when insolvent—Penalty.
30A.44.130 - Expense of liquidation.
30A.44.140 - Liquidation after claims are paid.
30A.44.150 - Unclaimed dividends—Disposition.
30A.44.160 - Voluntary closing—Possession of the director—Notice.
30A.44.170 - Voluntary liquidation—Notice to creditors.
30A.44.180 - Unclaimed dividends on voluntary liquidation.
30A.44.190 - Disposition of unclaimed personal property.
30A.44.200 - Duty of director—Notice to owner.
30A.44.210 - Final notice after two years—Sale.
30A.44.220 - Disposition of proceeds—Escheat.
30A.44.230 - Procedure as to papers, documents, etc.
30A.44.240 - Transfer of assets and liabilities to another bank.