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

Full text of Washington Revised Code of Washington § 30A.42.050 — Acquisition or serving on board of directors or trustees of other financial institutions prohibited., with citation guidance and answers to common questions.

§ 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 s 5. Formerly RCW 30.42.050.]

Source: official Washington text · Last verified 2026-08-27

Related Washington Legal Topics

Frequently Asked Questions About Washington § 30A.42.050

What does Revised Code of Washington § 30A.42.050 cover?

Section 30A.42.050 ("Acquisition or serving on board of directors or trustees of other financial institutions prohibited.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 30A.42.050?

A common citation format is "Revised Code of Washington § 30A.42.050" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 30A.42.050 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.