2012 Revised Code of Washington
Title 30 - BANKS AND TRUST COMPANIES
30.44 Insolvency and liquidation.
30.44.220 Disposition of proceeds -- Escheat.
RCW 30.44.220 Disposition of proceeds — Escheat.
The proceeds of such sale shall be deposited by the director in a bank or trust company to his or her credit, in trust for the benefit of the person entitled thereto, and shall be paid by him or her to such person upon receipt of satisfactory evidence of his or her right thereto.
All moneys so deposited remaining unclaimed for five years after deposit shall escheat to the state for the benefit of the permanent school fund and shall be paid by the director into the state treasury. It shall not be necessary to have the escheat adjudged in a suit or action.
[1994 c 92 § 126; 1955 c 33 § 30.44.220. Prior: 1947 c 148 § 5; Rem. Supp. 1947 § 3281-5.]
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