Upon a conversion being consummated all assets, rights and properties of the bank shall vest in and be the property of the association and all liabilities, debts, and obligations of the bank shall be the liabilities, debts, and obligations of the association and any right can be enforced by or against the association the same as it could have been enforced by or against the bank if the conversion had not occurred.

Terms Used In Washington Code 33.46.090

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Association: means any association organized under the laws of this state or the laws of the United States of America;
Washington Code 33.46.010
  • Bank: means a savings bank or commercial bank organized under the laws of this state; and
    • Washington Code 33.46.010
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
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