RCW 32.50.020
Director may appoint representative—Restrictions placed on savings bank.
During the period of supervisory direction the director may appoint a representative to supervise such savings bank and may provide that the savings bank may not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed representative:
(1) Dispose of, convey, or encumber any of the assets;
(2) Withdraw any of its bank accounts;
(3) Lend any of its funds;
(4) Invest any of its funds;
(5) Transfer any of its property; or
(6) Incur any debt, obligation, or liability.
[ 2010 c 88 § 67.]
Structure Revised Code of Washington
Title 32 - Washington Savings Bank Act
Chapter 32.50 - Supervisory Direction by the Director of Financial Institutions.
32.50.010 - Determination of unsafe condition—Notice—List of director's requirements—Conservator.
32.50.020 - Director may appoint representative—Restrictions placed on savings bank.
32.50.040 - Costs of supervisory direction and conservatorship.
32.50.050 - Request for review of actions taken by representative or conservator.
32.50.060 - Suit filed after savings bank in conservatorship.
32.50.070 - Duration of conservatorship.
32.50.080 - Authority of director to act—Administrative discretion.