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Washington Revised Code Title 30A. Washington Commercial Bank Act § 30A.46.030. Supervisory direction--Appointment of representative to supervise--Restrictions on operations

Current as of January 01, 2025 | Updated by Findlaw Staff

During the period of supervisory direction the director may appoint a representative to supervise such bank and may provide that the bank may not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed representative:

(1) Dispose of, convey, or encumber any of the assets, excluding trust assets under management;

(2) Withdraw any of its bank accounts;

(3) Lend any of its funds;

(4) Invest any of its funds;

(5) Transfer any of its property; or

(6) Incur any debt, obligation, or liability.

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Cite this article: FindLaw.com - Washington Revised Code Title 30A. Washington Commercial Bank Act § 30A.46.030. Supervisory direction--Appointment of representative to supervise--Restrictions on operations - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-30a-washington-commercial-bank-act/wa-rev-code-30a-46-030/

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