Washington Code 33.46.070 – Depositor’s interest upon conversion
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Upon the conversion of a bank into an association, every person who was a depositor of the bank at the time of the conversion shall become and be deemed to be a depositor of the association in a sum equal to the value of the deposits of the depositor in the bank as of the day on which the conversion was consummated.
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Terms Used In Washington Code 33.46.070
- Association: means any association organized under the laws of this state or the laws of the United States of America;
Washington Code 33.46.010Bank: means a savings bank or commercial bank organized under the laws of this state; and
Washington Code 33.46.010person: 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