RCW 30A.56.030
Business during postponement.
During postponement of payments the bank shall remain open for business and be in charge of its officers, but shall not make any loans, investments or expenditures except such as the director will approve as necessary to conserve its assets and pay the cost of operation. The bank's failure during a period of postponement to repay deposits existing at the commencement of the period, shall not authorize or require the director to take charge of or liquidate the bank, nor constitute ground for the appointment of a receiver.
[ 1994 c 92 § 151; 1955 c 33 § 30.56.030. Prior: 1933 c 49 § 3; RRS § 3293-3. Formerly RCW 30.56.030.]
Structure Revised Code of Washington
Title 30A - Washington Commercial Bank Act
Chapter 30A.56 - Bank Stabilization Act.
30A.56.010 - "Bank" and "directors" defined.
30A.56.020 - Postponement of payments on deposits—Order—Posting.
30A.56.030 - Business during postponement.
30A.56.040 - Deposits received during postponement.
30A.56.050 - Plan for reorganization—Conditions.
30A.56.060 - Approval of plan—Unsecured claims.
30A.56.070 - No dividends until reductions paid.
30A.56.080 - Failure to pay in excess of plan, effect.