RCW 32.35.070
Failure to commence business—Effect—Extension of time.
Every corporation authorized by the laws of this state to do business as a stock savings bank, which corporation shall have failed to organize and commence business within six months after certificate of authority to commence business has been issued by the director, shall forfeit its rights and privileges as such corporation, which fact the director shall certify to the secretary of state, and such certificate of forfeiture shall be filed and recorded in the office of the secretary of state in the same manner as the certificate of authority. However, the director may, upon showing of cause satisfactory to him or her, issue an order under his or her hand and seal extending for not more than three months the time within which such organization may be effected and business commenced, such order to be transmitted to the office of the secretary of state and filed and recorded.
[ 1999 c 14 § 8.]
Structure Revised Code of Washington
Title 32 - Washington Savings Bank Act
Chapter 32.35 - Stock Savings Banks.
32.35.010 - Incorporators—Paid-in capital stock, surplus, and undivided profits—Requirements.
32.35.020 - Notice of intention to organize—Proposed articles of incorporation—Contents.
32.35.040 - Notice to file articles—Articles approved or refused—Hearing.
32.35.050 - Approved articles to be filed and recorded—Organization complete.
32.35.055 - Amending articles—Filing with director—Contents.
32.35.060 - Certificate of authority—Issuance—Contents.
32.35.070 - Failure to commence business—Effect—Extension of time.