Washington Statutes
§ 30A.56.040 — Deposits received during postponement.
Washington § 30A.56.040
This text of Washington § 30A.56.040 (Deposits received during postponement.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Wash. Rev. Code § 30A.56.040 (2026).
Text
Deposits received during a period of postponement and for sixty days thereafter shall be kept separate from other assets of the bank, shall not draw interest, shall not be loaned or invested except by depositing with reserve banks or investing in liquid securities approved by the director, and shall be withdrawable upon demand. If during a postponement of payments, or at the expiration thereof, the director shall take charge of the bank for liquidation, deposits made during the period of postponement shall be deemed trust funds and be repaid to the depositors forthwith.
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Legislative History
[1994 c 92 s 152;1955 c 33 s 30.56.040. Prior:1933 c 49 s 4; RRS s 3293-4. Formerly RCW30.56.040.]
Nearby Sections
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Director—Powers under chapter19.144RCW.§ 30A.04.050
Duty to comply—Violations—Penalty.Cite This Page — Counsel Stack
Bluebook (online)
Washington § 30A.56.040, Counsel Stack Legal Research, https://law.counselstack.com/statute/wa/30A.56.040.