32.50.020 - Director may appoint representative -- Restrictions placed on savings bank. - Washington Statutes

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.]