32.08.080 - Conditions precedent to reception of deposits. - Washington Statutes

Conditions precedent to reception of deposits.

Before such corporation shall be authorized to receive deposits or transact business other than the completion of its organization, the director shall be satisfied that:

     (1) The incorporators have made the deposit of the initial guaranty fund required by this title;

     (2) The incorporators have made the deposit of the expense fund required by RCW 32.08.090 and if the director shall so require, have entered into the agreement or undertaking with him or her and have filed the same and the security therefor as prescribed in said section;

     (3) The corporation has transmitted to the director the name, residence, and post office address of each officer of the corporation;

     (4) Its certificate of incorporation in triplicate has been filed in the respective public offices designated in this title.

[1994 c 92 § 315; 1955 c 13 § 32.08.080. Prior: 1915 c 175 § 6; RRS § 3318.]