30A.56.030 – Business during postponement.
RCW 30A.56.030 Business during postponement. During postponement of payments the bank shall remain open for business and be in charge of its officers, but shall not make any loans, investments or expenditures except such as the director will approve as necessary to conserve its assets and pay the cost of operation. The bank’s failure during […]
30A.56.040 – Deposits received during postponement.
RCW 30A.56.040 Deposits received during postponement. 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 […]
30A.56.050 – Plan for reorganization—Conditions.
RCW 30A.56.050 Plan for reorganization—Conditions. At the request of the directors of a bank, the director may propose a plan for its reorganization, if in his or her judgment it would be for the best interests of the bank’s creditors and of the community which the bank serves. The plan may contemplate such temporary ratable […]
30A.56.060 – Approval of plan—Unsecured claims.
RCW 30A.56.060 Approval of plan—Unsecured claims. If, within ninety days after the filing of the plan, creditors having unsecured demands against the bank aggregating not less than three-fourths of the amount of the unsecured demands of all its creditors, approved the plan, the director shall have power to declare the plan to be in effect. […]
30A.56.070 – No dividends until reductions paid.
RCW 30A.56.070 No dividends until reductions paid. A bank for which such a plan has been put into effect shall not declare or pay a dividend or distribute any of its assets among stockholders until there shall have been set aside for and credited ratably to the creditors whose demands were reduced an amount equal […]
30A.49.070 – Conversion of national to state bank—Requirements—Procedure.
RCW 30A.49.070 Conversion of national to state bank—Requirements—Procedure. Except as provided in RCW 30A.49.100, a national bank located in this state which follows the procedure prescribed by the laws of the United States to convert into a state bank shall be granted a state charter by the director if he or she finds that the […]
30A.49.080 – Resulting bank as same business and corporate entity—Use of name of merging, converting bank.
RCW 30A.49.080 Resulting bank as same business and corporate entity—Use of name of merging, converting bank. A resulting state or national bank shall be the same business and corporate entity as each merging state or national bank or as the converting state or national bank with all property, rights, powers and duties of each merging […]
30A.49.090 – Rights of dissenting shareholder—Appraisal—Amount due as debt.
RCW 30A.49.090 Rights of dissenting shareholder—Appraisal—Amount due as debt. The owner of shares of a state bank which were voted against a merger to result in a state bank, or against the conversion of a state bank into a national bank, shall be entitled to receive their value in cash, if and when the merger […]
30A.49.100 – Provision for successors to fiduciary positions.
RCW 30A.49.100 Provision for successors to fiduciary positions. Where a resulting state bank is not to exercise trust powers, the director shall not approve a merger or conversion until satisfied that adequate provision has been made for successors to fiduciary positions held by the merging state or national banks or the converting state or national […]
30A.49.110 – Assets, business—Time for conformance with state law.
RCW 30A.49.110 Assets, business—Time for conformance with state law. If a merging or converting state or national bank has assets which do not conform to the requirements of state law for the resulting state bank or carries on business activities which are not permitted for the resulting state bank, the director may permit a reasonable […]