Washington Code 32.16.010 – Board of trustees — Number — Qualifications
Current as of: 2023 | Check for updates
|
Other versions
(1) There shall be a board of trustees who shall have the entire management and control of the affairs of the savings bank. The persons named in the certificate of authorization shall be the first trustees. The board shall consist of not less than nine nor more than thirty members.
Terms Used In Washington Code 32.16.010
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
- Trustee: A person or institution holding and administering property in trust.
(2) A person shall not be a trustee of a savings bank, if he or she:
(a) Is not a resident of a state of the United States;
(b) Has been adjudicated a bankrupt or has taken the benefit of any insolvency law, or has made a general assignment for the benefit of creditors;
(c) Has suffered a judgment recovered against him or her for a sum of money to remain unsatisfied of record or unsecured on appeal for a period of more than three months;
(d) Is a trustee, officer, clerk, or other employee of any other savings bank.
(3) Nor shall a person be a trustee of a savings bank solely by reason of his or her holding public office.