RCW 33.24.080
Local improvement district bonds.
An association may invest its funds in the bonds of any local improvement district of any city of this state (except bonds issued for an improvement consisting of grading only), the ultimate payment of which is guaranteed by the municipality under the provisions of guaranty laws of this state: PROVIDED, That one-half of the lots in the district are improved with revenue producing houses or other improvements and that local improvement district bonds falling within the twenty-five percent, in amount of any issue, last callable for payment shall neither be acquired nor taken as security. The aggregate of the investments of an association in any issue of such bonds shall at no time exceed three percent of the amount of its savings accounts, and it may not have invested, at any one time, more than one hundred thousand dollars in the bonds of any such district.
[ 1953 c 71 § 7; 1945 c 235 § 65; Rem. Supp. 1945 § 3717-184. Prior: 1939 c 98 § 11; 1933 c 183 § 56.]
Structure Revised Code of Washington
Title 33 - Washington Savings Association Act
Chapter 33.24 - Loans and Investments.
33.24.005 - "Mortgage" includes deed of trust and real estate contract.
33.24.007 - "Real property" defined.
33.24.010 - Authority to invest—Limits on loans and extensions of credit.
33.24.015 - Loans generally—Limitation.
33.24.020 - Obligations of United States or Canada.
33.24.025 - Investment in investment trusts or companies.
33.24.030 - Obligations of this state.
33.24.040 - Obligations of other states.
33.24.050 - Obligations of municipal corporations in this state.
33.24.060 - Obligations of municipal corporations in any state.
33.24.065 - Obligations issued or guaranteed by multilateral development bank.
33.24.070 - City or district light, water, and sewer revenue bonds.
33.24.080 - Local improvement district bonds.
33.24.090 - Obligations of federal and state agencies—Investment in other associations.
33.24.100 - Loans or other obligations secured by real property.
33.24.115 - Forming, incorporating with, or investing in other entities—Limitation.
33.24.160 - Investment in office equipment and real property interests used in doing business.
33.24.200 - Personal liability on unlawful loans.
33.24.210 - Revenue bonds of public utility districts.
33.24.220 - Stock or bonds of federal home loan bank.
33.24.270 - Stock in small business investment companies.
33.24.295 - Loans for nonbusiness family purposes—Limitation.
33.24.345 - Acquisition of control of association—Authorized.
33.24.350 - Acquisition of control of association—Definitions.
33.24.370 - Acquisition of control of association—Action or proceeding to prevent—Grounds.
33.24.375 - Acquisition of control of association—Application to foreign association branches.