Washington Statutes
§ 32.20.230 — Notes secured by investments.
Washington § 32.20.230
This text of Washington § 32.20.230 (Notes secured by investments.) 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 § 32.20.230 (2026).
Text
A mutual savings bank may invest its funds in promissory notes payable to the order of the savings bank, secured by the pledge or assignment of investments lawfully purchasable by a savings bank. No such loan shall exceed ninety percent of the cash market value of such investments so pledged. Should any of the investments so held in pledge depreciate in value after the making of such loan, the savings bank shall require an immediate payment of such loan, or of a part thereof, or additional security therefor, so that the amount loaned thereon shall at no time exceed ninety percent of the market value of the investments so pledged for such loan.
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Legislative History
[1969 c 55 s 5;1963 c 176 s 6;1955 c 13 s 32.20.230. Prior:1945 c 228 s 2;1929 c 74 s 18; Rem. Supp. 1945 s 3381-18.]
Nearby Sections
15
§ 32.04.002
Short title.§ 32.04.010
Scope of title.§ 32.04.012
Limits on loans and extensions of credit.§ 32.04.015
Duty to comply—Violations—Penalty.§ 32.04.020
Definitions.§ 32.04.022
"Mortgage" includes deed of trust.§ 32.04.050
Reports.§ 32.04.070
Certified copies of records as evidence.§ 32.04.100
Penalty for falsification.Cite This Page — Counsel Stack
Bluebook (online)
Washington § 32.20.230, Counsel Stack Legal Research, https://law.counselstack.com/statute/wa/32.20.230.