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Current as of January 01, 2025 | Updated by Findlaw Staff
If the trustees or directors of any savings bank or holding company shall knowingly violate, or knowingly permit any of the officers, agents, or employees of the savings bank or holding company to violate any of the provisions of this title or any lawful regulation or directive of the director, and if the trustees or directors are aware that such facts and circumstances constitute such violations, then each trustee or director who participated in or assented to the violation is personally and individually liable for all damages which the state or any insurer of the deposits of the savings bank sustains due to the violation.
Cite this article: FindLaw.com - Washington Revised Code Title 32. Washington Savings Bank Act § 32.16.140. Violations--Trustees’ or directors’ liability - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-32-washington-savings-bank-act/wa-rev-code-32-16-140/
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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