Washington Code 15.66.185 – Investment of agricultural commodity commission funds in savings or time deposits of banks, trust companies, and mutual savings banks
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(1) Any funds of any agricultural commodity commission may be invested in savings or time deposits in banks, trust companies, and mutual savings banks that are doing business in the United States, up to the amount of insurance afforded such accounts by the Federal Deposit Insurance Corporation.
Terms Used In Washington Code 15.66.185
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) This section shall apply to all funds which may be lawfully so invested, which in the judgment of any agricultural commodity commission are not required for immediate expenditure. The authority granted by this section is not exclusive and shall be construed to be cumulative and in addition to other authority provided by law for the investment of such funds, including, but not limited to, authority granted under chapters 39.58, 39.59, and 43.84 RCW.
NOTES:
Effective date—2003 c 396: See note following RCW 15.66.030.
Effective dates—2002 c 313: See note following RCW 15.65.020.