Wash. Rev. Code § 32.20.240

Current through 2024

Section 32.20.240 - Notes secured by pledge or assignment of account

A mutual savings bank may invest its funds in promissory notes made payable to the order of the savings bank, secured by the pledge or assignment of the account of the mutual savings bank as collateral security for the payment thereof. No such loan shall exceed the balance due the holder of such account.

RCW 32.20.240

1967 c 145 § 5; 1955 c 13 § 32.20.240. Prior: 1945 c 228 § 3; 1929 c 74 § 19; 1921 c 156 § 11m; Rem. Supp. 1945 § 3381-19.

Interest and usury in general: Chapter 19.52 RCW.