2012 Revised Code of Washington
Title 31 - MISCELLANEOUS LOAN AGENCIES
31.12 Washington state credit union act.
31.12.721 Appointment by court of temporary receiver -- Notice to director.
RCW 31.12.721 Appointment by court of temporary receiver — Notice to director.
No receiver may be appointed by any court for any credit union, except that a court otherwise having jurisdiction may in case of imminent necessity appoint a temporary receiver to take possession of and preserve the assets of the credit union. Immediately upon appointment, the clerk of the court shall notify the director in writing of the appointment and the director shall appoint a receiver to take possession of the credit union and the temporary receiver shall upon demand surrender possession of the assets of the credit union to the receiver. The receiver may in due course pay the temporary receiver out of the assets of the credit union, subject to the approval of the court.
[1997 c 397 § 85.]
Disclaimer: These codes may not be the most recent version. Washington may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
