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.
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.