Washington Code 31.12.704 – Proceeds of sale — Deposit or payment by receiver
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The proceeds of the sale less any amounts for costs and charges incurred in safekeeping and sale must be deposited by the receiver in a financial institution, in trust for the benefit of the person entitled to the property. The sale proceeds must be paid by the receiver to the person upon presentation of satisfactory evidence of the person’s right to the funds.
[ 1997 c 397 § 80.]
Terms Used In Washington Code 31.12.704
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Financial institution: means any commercial bank, trust company, savings bank, or savings and loan association, whether state or federally chartered, and any credit union, out-of-state credit union, or federal credit union. See Washington Code 31.12.005
- Person: means an organization or a natural person including, but not limited to, a sole proprietorship. See Washington Code 31.12.005