LegalFix
Sign In

30A.42.050 Acquisition or serving on board of directors or trustees of other financial institutions prohibited.

WA Rev Code § 30A.42.050 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

RCW 30A.42.050 Acquisition or serving on board of directors or trustees of other financial institutions prohibited.

An alien bank shall not take over or acquire an existing federal or state-chartered bank, trust company, mutual savings bank, savings and loan association, or credit union or any branch of any such bank, trust company, mutual savings bank, savings and loan association, or credit union in this state; nor shall any designee, officer, agent or employee of an alien bank serve on the board of directors of any federal or state bank, trust company, savings and loan association, or credit union, or the board of trustees of a mutual savings bank.

[ 1973 1st ex.s. c 53 § 5. Formerly RCW 30.42.050.]

Previous Section
30A.42.040 More than one office prohibited.
Next Section
30A.42.060 Conditions to be met before opening office in state.