32.16.095 - Removal of one or more trustees or directors -- Lack of quorum -- Temporary trustees. - Washington Statutes

Removal of one or more trustees or directors — Lack of quorum — Temporary trustees.

If at any time because of the removal of one or more trustees or directors under this chapter there shall be on the board of trustees or board of directors of a savings bank less than a quorum of trustees or directors, all powers and functions vested in, or exercisable by the board shall vest in, and be exercisable by the trustee or trustees or director or directors remaining, until such time as there is a quorum on the board of trustees or board of directors. If all of the trustees or directors of a savings bank are removed under this chapter, the director shall appoint persons to serve temporarily as trustees or directors until such time as their respective successors take office.

[2010 c 88 § 54; 1994 c 92 § 333; 1979 c 46 § 9.]

Notes: Effective date -- 2010 c 88: See RCW 32.50.900.

Severability -- 1979 c 46: See note following RCW 32.04.250.