Washington Code 32.20.415 – Limitation on certain secured and unsecured loans
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In addition to all other investments and loans authorized for mutual savings banks in this state, a mutual savings bank may invest not more than twenty percent of its funds in secured or unsecured loans on such terms and conditions as the bank may determine.
[ 1981 c 86 § 15.]
NOTES:
Severability—1981 c 86: See note following RCW 32.08.140.
Terms Used In Washington Code 32.20.415
- 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