Washington Code 32.20.060 – Bonds of other states
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A mutual savings bank may invest its funds in the bonds or obligations of any other state of the United States upon which there is no default.
Terms Used In Washington Code 32.20.060
- its funds: whenever used in this chapter , shall mean and include moneys deposited with or borrowed by a mutual savings bank, sums credited to the guaranty fund of a mutual savings bank, and the income derived from such deposits or fund, or both, and the principal balance of any outstanding capital notes, and capital debentures. See Washington Code 32.20.010
- savings bank: whenever used in this chapter , shall mean a mutual savings bank organized and existing under the laws of the state of Washington. See Washington Code 32.20.010