Washington § 19.05.120 - Investment account.

Full text of Washington Revised Code of Washington § 19.05.120 — Investment account., with citation guidance and answers to common questions.

§ 19.05.120. Investment account.

(1) The Washington saves investment account is established as a trust, with the governing board created under this chapter as its trustee.
(2)(a) Moneys in the account consist of moneys received from individual participants and participating employers pursuant to automatic payroll deductions and contributions to savings made under this chapter. The governing board shall determine how the account operates, provided that the account is operated so that the individual accounts established under the program meet the requirements for IRAs under the internal revenue code.
(b) The assets of the account are not state money, common cash, or revenue to the state. Amounts in the account may not be commingled with state funds and the state has no claim to or against, or interest in, such funds.
(3) Disbursements from the account are exempt from appropriations and the allotment provisions of chapter 43.88 RCW. An appropriation is not required for expenditures.
(4) Only the governing board or the governing board's designee may authorize expenditures from the account.
[ 2024 c 327 s 12.]

Notes

Conflict with federal requirements—2024 c 327: See note following RCW 19.05.020.

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

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Frequently Asked Questions About Washington § 19.05.120

What does Revised Code of Washington § 19.05.120 cover?

Section 19.05.120 ("Investment account.") 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 § 19.05.120?

A common citation format is "Revised Code of Washington § 19.05.120" (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 § 19.05.120 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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