Washington Statutes
§ 32.32.030 — Prohibition on approval of certain applications for conversion.
Washington § 32.32.030
JurisdictionWashington
Title 32WASHINGTON SAVINGS BANK ACT
Ch. 32.32CONVERSION OF MUTUAL SAVINGS BANK TO CAPITAL STOCK SAVINGS BANK
This text of Washington § 32.32.030 (Prohibition on approval of certain applications for conversion.) 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 § 32.32.030 (2026).
Text
No application for conversion may be approved by the director if:
(1)The plan of conversion adopted by the applicant's board of directors is not in accordance with this chapter;
(2)The conversion would result in a reduction of the applicant's net worth below requirements established by the director;
(3)The conversion may result in a taxable reorganization of the applicant under the United States Internal Revenue Code of 1954, as amended; or
(4)The converted savings bank does not meet the insurance requirements as established by the director.
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Legislative History
[1994 c 92 s 353;1981 c 85 s 5.]
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 § 32.32.030, Counsel Stack Legal Research, https://law.counselstack.com/statute/wa/32.32.030.