Washington Code 16.65.310 – Licensee’s failure to pay vendor, consignor — Settlement, compromise — Creditors share — Priority of state’s claim
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In any settlement or compromise by the director with a surety company as provided in RCW 16.65.290, where there are two or more consignor and/or vendor creditors that have filed claims, either fixed or contingent, against a licensee’s bond, such creditors shall share pro rata in the proceeds of the bond to the extent of their actual damage: PROVIDED, That the claims of the state and the department which may accrue from the conduct of the licensee’s public livestock market shall have priority over all other claims.
[ 1959 c 107 § 31.]
Terms Used In Washington Code 16.65.310
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.