§ 30A.44.200 — Duty of director—Notice to owner.

Washington § 30A.44.200

• Jurisdiction: Washington
• Title 30A: WASHINGTON COMMERCIAL BANK ACT
• Ch. 30A.44: INSOLVENCY AND LIQUIDATION

Text

Upon receiving possession of the packages, the director shall cause them to be opened in the presence of at least one witness, the property reinventoried, and the packages resealed, and held for safekeeping. The liquidated bank, its directors, officers, and shareholders, and the liquidating agent shall thereupon be relieved of responsibility and liability for the property so delivered to and received by the director. The director shall send immediately to each person in whose name the property stood on the books of the liquidated bank, at his or her last known address, in a securely closed, postpaid and registered letter, a notice that the property listed will be held in his or her name for a period of not less than two years. At any time after the mailing of such notice, and before the expiration of two years, such person may require the delivery of the property so held, by properly identifying himself or herself and offering evidence of his or her right thereto, to the satisfaction of the director.

Legislative History

[2014 c 37 s 236;1994 c 92 s 124;1955 c 33 s 30.44.200. Prior:1947 c 148 s 3; Rem. Supp. 1947 s 3281-3. Formerly RCW30.44.200.]