Supervisory direction—Appointment of representative to supervise—Restrictions on operations.

1. Law
2. Revised Code of Washington
3. Washington Commercial Bank Act
4. Supervisory Direction—Conservatorship.
5. Supervisory direction—Appointment of representative to supervise—Restrictions on operations.

During the period of supervisory direction the director may appoint a representative to supervise such bank and may provide that the bank may not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed representative:

(1) Dispose of, convey, or encumber any of the assets, excluding trust assets under management;

(2) Withdraw any of its bank accounts;

(3) Lend any of its funds;

(4) Invest any of its funds;

(5) Transfer any of its property; or

(6) Incur any debt, obligation, or liability.

[ 2014 c 37 § 246; 2013 c 76 § 15; 1994 c 92 § 135; 1975 1st ex.s. c 87 § 3. Formerly RCW 30.46.030.]

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