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Current as of January 01, 2025 | Updated by Findlaw Staff
Upon receiving possession of the packages, the director shall cause them to be opened in the presence of at least one witness, the property reinventoried, and the packages resealed, and held for safekeeping. The liquidated bank, its directors, officers, and shareholders, and the liquidating agent shall thereupon be relieved of responsibility and liability for the property so delivered to and received by the director. The director shall send immediately to each person in whose name the property stood on the books of the liquidated bank, at his or her last known address, in a securely closed, postpaid and registered letter, a notice that the property listed will be held in his or her name for a period of not less than two years. At any time after the mailing of such notice, and before the expiration of two years, such person may require the delivery of the property so held, by properly identifying himself or herself and offering evidence of his or her right thereto, to the satisfaction of the director.
Cite this article: FindLaw.com - Washington Revised Code Title 30A. Washington Commercial Bank Act § 30A.44.200. Duty of director--Notice to owner - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-30a-washington-commercial-bank-act/wa-rev-code-30a-44-200/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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