RCW 30A.56.090
New bank may be authorized.
If the net assets of a bank operating under such a plan are sufficient to provide the capital and surplus of a newly organized bank in the same place, the director, under such reasonable conditions as he or she shall prescribe, may approve the incorporation of a new bank and permit it to take over the assets and business and assume the liabilities of the existing bank.
[ 1994 c 92 § 156; 1955 c 33 § 30.56.090. Prior: 1933 c 49 § 9; RRS § 3293-9. Formerly RCW 30.56.090.]
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.