Washington § 33.20.170 - Withdrawals may be limited — Conditions.

Full text of Washington Revised Code of Washington § 33.20.170 — Withdrawals may be limited — Conditions., with citation guidance and answers to common questions.

§ 33.20.170. Withdrawals may be limited — Conditions.

The director further is empowered, if in his or her judgment the circumstances warrant it, to issue in writing a declaration that an acute business depression, state of panic, or economic emergency exists, in which event the directors of any association, state or federal, within the state may limit withdrawals by resolution, subject to the following conditions; that incoming funds shall be applied:
First, to the payment of operating expenses, indebtedness, taxes, insurance, and to the necessary charges for the protection of the association and its investments;
Second, to the payment to members of emergency withdrawals not exceeding twenty-five dollars per month to any member. The board of directors of any association, with the prior written approval of the director, by resolution may authorize the payment of emergency withdrawals not exceeding one hundred dollars per month to any member;
Third, to the payment of dividends on the savings of its members;
Fourth, three-fourths of all remaining receipts of the association, except interest payments, shall be applied to the payment of withdrawals, until all withdrawal requests have been paid.
All such withdrawal payments shall be made to members having withdrawal requests on file in proportion to the amount of such withdrawal requests.
[ 1994 c 92 s 444; 1945 c 235 s 99; Rem. Supp. 1945 s 3717-218. Prior: 1939 c 98 s 5; 1933 c 183 ss 29, 30, 31, 32, 33, 34; 1919 c 169 s 10; 1913 c 110 s 16; 1890 p 56 s 27.]

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

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Frequently Asked Questions About Washington § 33.20.170

What does Revised Code of Washington § 33.20.170 cover?

Section 33.20.170 ("Withdrawals may be limited — Conditions.") 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 § 33.20.170?

A common citation format is "Revised Code of Washington § 33.20.170" (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 § 33.20.170 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

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