RCW 33.40.010 Voluntary liquidation, merger, etc., authorized—Procedure. Any domestic association may determine to enter upon voluntary liquidation, to transfer its assets and liabilities to another association, to merge with another association, to segregate its assets into classes, to charge off its losses in excess of its reserves. Any such liquidation, transfer, merger, segregation, or charge-off […]
RCW 33.40.020 Director may take possession of domestic association on notice for delinquency. Whenever it appears to the director that any domestic association is in an unsound condition or is conducting its business in an unsafe manner or is refusing to submit its books, papers, or concerns to lawful inspection, or that any director or […]
RCW 33.40.030 Possession without notice. Whenever it shall appear to the director that any association is in an unsound or unsafe condition to continue business or is insolvent, the director may take possession thereof without notice. [ 1994 c 92 § 456; 1945 c 235 § 104; Rem. Supp. 1945 § 3717-223. Prior: 1933 c […]
RCW 33.40.040 Procedure on taking possession. Upon the director taking possession of any domestic association, the director shall proceed to liquidate the association unless, in the director’s discretion, the director shall determine to call a meeting of the members to consider either a proportionate charge-off against the deposit accounts to permit the association thereafter to […]
RCW 33.40.050 Involuntary liquidation—Procedure—Federal insurance corporation as liquidator. Whenever the director determines to liquidate the affairs of a domestic association, the director shall cause the attorney general to present to the superior court of the county in which the association has its principal place of business a written petition setting forth the date of the […]
RCW 33.40.060 Procedure to be as in receivership. In any such liquidation proceeding, the court, except as otherwise in this title expressly provided, shall have the powers and proceed as in receivership proceedings. [ 1945 c 235 § 107; Rem. Supp. 1945 § 3717-226. Prior: 1935 c 171 § 4; 1933 c 183 §§ 70, […]
RCW 33.40.070 Liquidator’s powers. The liquidator, upon the approval of the court, may sell, discount, or compromise debts of the association and claims against its debtors. The liquidator, with the approval of the court, may lease, operate, repair, exchange, or sell, either for cash or upon terms, the real and personal property of the association. […]
RCW 33.40.075 Investment of liquidation funds—Use of income. All funds received by the director from liquidations may be invested by the director. The earnings from the moneys so held may be applied toward defraying the expenses incurred in the liquidations. [ 1994 c 92 § 460; 1982 c 3 § 70; 1951 c 105 § […]
RCW 33.40.080 Disposition of records. Upon the termination of any liquidation proceeding, any files, records, documents, books of account, or other papers in the possession of the liquidator shall be surrendered into the possession of the director, who, in his or her discretion at any time after the expiration of one year, may destroy any […]
RCW 33.40.110 Voluntary liquidation—Disposition of unclaimed dividends and records. In a voluntary liquidation of a domestic association, checks issued in the liquidation or funds representing liquidating dividends or otherwise which remain undelivered for six months following the final liquidating dividend, shall be deposited with the director, together with any files, records, documents, books of account, […]
RCW 33.40.120 Removal of liquidator—Appellate review. The court, upon notice and hearing, may remove the liquidator for cause. Appellate review of the order of removal may be sought as in other civil cases. During the pendency of any appeal, the director of financial institutions shall act as liquidator of the association, without giving any additional […]
RCW 33.40.130 Payment of deposits accepted during economic emergency, preference. Savings deposits received by an association, during a period or periods of postponement of payment of withdrawals or of acute business depression, panic or economic emergency under authorization or declaration of the director as hereinbefore provided, shall be repaid to the depositors paying in such […]
RCW 33.40.150 Appointment of provisional officers and directors. (1) The director of financial institutions, after exercising the authority granted in RCW 33.16.040, may appoint provisional officers and directors, in whole or in part, of an association. (2) Notice of the appointment shall be served upon the association, and the appointment shall take effect immediately and […]
