§ 33.46.060 — Issuance of authorization certificate—Filing—Completion of conversion—Effect.

Washington § 33.46.060

• Jurisdiction: Washington
• Title 33: WASHINGTON SAVINGS ASSOCIATION ACT
• Ch. 33.46: CONVERSION OF SAVINGS BANK OR COMMERCIAL BANK TO ASSOCIATION

Text

Upon filing the certificate in triplicate as provided in RCW 33.46.050 , the director of financial institutions shall, within thirty days thereafter, if satisfied that all the provisions of this chapter have been complied with, issue in triplicate an authorization certificate stating that the association has complied with all of the requirements of law, and that it has authority to transact, at the place or places designated in its certificate, the business of an association. The director of financial institutions shall retain one set of the triplicate originals of the certificate of reincorporation and of the certificate of authorization and shall transmit the other two sets to the association, which shall retain one set, and file one set with the secretary of state, paying the required fees. Upon such filings being made, the conversion of the bank to the association shall be deemed complete and consummated, and the association shall thereupon be a corporation having the powers and being subject to the duties and obligations prescribed by the laws of this state applicable to state associations, and the time of existence of such association shall be perpetual, unless sooner terminated.

Severability — 1982 c 3: See note following RCW 33.04.002 .

Severability — 1981 c 302: See note following RCW 19.76.100 .

Legislative History

[1994 c 92 s 475;1982 c 3 s 85;1981 c 302 s 36;1975 1st ex.s. c 83 s 6.]