Washington Code 33.36.030 – Preference in case of insolvency
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Every transfer of its property and assets by any association in this state, made in contemplation of insolvency, or after it becomes insolvent, with a view to the preference of one creditor or member over another, or to prevent the proper distribution of its property and assets among its creditors and members, shall be void.
Attorney's Note
Under the Washington Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| class C felony | up to 5 years | up to $10,000 |
Terms Used In Washington Code 33.36.030
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Every director, officer, agent, or employee making such transfer or assisting therein is guilty of a class C felony as provided in chapter 9A.20 RCW.
[ 1982 c 3 § 62; 1945 c 235 § 89; Rem. Supp. 1945 § 3717-208.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.