RCW 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 approval of the director, which approval shall not be withheld unless the director has determined that such payments would place the savings bank in an unsafe and unsound condition.
[ 1994 c 92 § 317; 1982 c 5 § 2.]
Structure Revised Code of Washington
Title 32 - Washington Savings Bank Act
Chapter 32.08 - Organization and Powers.
32.08.010 - Authority to organize—Incorporators—Certificate.
32.08.020 - Notice of intention.
32.08.030 - Submission of certificate—Proof of service of notice.
32.08.040 - Examination and action by director.
32.08.050 - Appeal from adverse decision.
32.08.060 - Procedure upon approval.
32.08.061 - Extension of period of existence—Procedure.
32.08.070 - Authorization certificate.
32.08.080 - Conditions precedent to reception of deposits.
32.08.090 - Expense fund—Agreement to contribute further—Security.
32.08.110 - Guaranty fund—Purpose.
32.08.115 - Guaranty fund—Payment of interest and dividends—Legislative declaration.
32.08.116 - Guaranty fund—Payment of interest and dividends—When authorized.
32.08.120 - Guaranty fund—Replenishment—Dividends.
32.08.130 - Reimbursement fund.
32.08.145 - Safe deposit companies.
32.08.148 - Operation of branch outside Washington—Powers and authorities.
32.08.150 - Certificates of deposit.
32.08.157 - Additional powers—Powers and authorities of banks.
32.08.160 - Writing of fire insurance restricted.
32.08.170 - Effect of failure to organize or commence business.
32.08.180 - Extension of existence.
32.08.190 - May borrow from home loan bank.
32.08.225 - Sale, purchase, etc., of interest rate exchange agreements, loans, or interests therein.