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Current as of January 01, 2025 | Updated by Findlaw Staff
If at any time because of the removal of one or more trustees or directors under this chapter there shall be on the board of trustees or board of directors of a savings bank less than a quorum of trustees or directors, all powers and functions vested in, or exercisable by the board shall vest in, and be exercisable by the trustee or trustees or director or directors remaining, until such time as there is a quorum on the board of trustees or board of directors. If all of the trustees or directors of a savings bank are removed under this chapter, the director shall appoint persons to serve temporarily as trustees or directors until such time as their respective successors take office.
Cite this article: FindLaw.com - Washington Revised Code Title 32. Washington Savings Bank Act § 32.16.095. Removal of one or more trustees or directors--Lack of quorum--Temporary trustees - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-32-washington-savings-bank-act/wa-rev-code-32-16-095/
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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