RCW 33.46.030
Cash contributions to expense fund if becoming domestic mutual association.
If the application to become a domestic mutual association is granted, the director of financial institutions shall require the applicant to enter into an agreement or undertaking with the director, as trustee for the members of the association, to make such cash contributions to an expense fund of the mutual association as in the director's judgment will be necessary then and from time to time thereafter to pay the operating expenses of the association if its earnings should not be sufficient to pay the same in addition to the payment of such dividends as may be declared and credited to members from its earnings.
[ 1994 c 92 § 472; 1982 c 3 § 82; 1975 1st ex.s. c 83 § 3.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Structure Revised Code of Washington
Title 33 - Washington Savings Association Act
Chapter 33.46 - Conversion of Savings Bank or Commercial Bank to Association.
33.46.020 - Conversion of bank to association—Procedure.
33.46.030 - Cash contributions to expense fund if becoming domestic mutual association.
33.46.040 - Appeal from denial of application.
33.46.050 - Certificate of reincorporation—Required—Filing—Contents.
33.46.060 - Issuance of authorization certificate—Filing—Completion of conversion—Effect.
33.46.070 - Depositor's interest upon conversion.
33.46.080 - Transfer of securities—Conformance to state association laws, when.
33.46.090 - Assets, liabilities, etc., vested in association upon conversion.
33.46.100 - Initial meeting of shareholders of domestic association—Notice—Proxy voting.