Washington Code 32.32.085 – Savings account holder to receive withdrawable savings account(s) — Amount
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Each savings account holder of the converting savings bank shall receive, without payment, a withdrawable savings account or accounts in the converted savings bank equal in withdrawable amount to the withdrawal value of the account holder’s savings account or accounts in the converting savings bank.
[ 1981 c 85 § 16.]
Terms Used In Washington Code 32.32.085
- amount: when used in regard to securities, means the principal amount if relating to evidences of indebtedness, the number of shares if relating to shares, and the number of units if relating to any other kind of security. See Washington Code 32.32.025
- savings account: means deposits established in a mutual savings bank and includes certificates of deposit. See Washington Code 32.32.025