2005 Washington Revised Code RCW 32.24.080: Transfer of assets when insolvent — Penalty.

    (1) Every transfer of its property or assets by any mutual savings bank in this state, made (a) after it has become insolvent, (b) within ninety days before the date the director takes possession of such savings bank under RCW 32.24.050 or the federal deposit insurance corporation is appointed as receiver or liquidator of such savings bank under RCW 32.24.090, and (c) with the view to the preference of one creditor over another or to prevent equal distribution of its property and assets among its creditors, shall be void.

         (2) Every trustee, officer, or employee making any transfer described in subsection (1) of this section is guilty of a class B felony punishable according to chapter 9A.20 RCW.

    [2003 c 53 § 196; 1994 c 92 § 346; 1985 c 56 § 15; 1955 c 13 § 32.24.080. Prior: 1931 c 132 § 10; RRS § 3379a.]

Notes:
         Intent -- Effective date -- 2003 c 53: See notes following RCW 2.48.180.

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