Washington § 30A.42.160 - Powers as to real estate.

Full text of Washington Revised Code of Washington § 30A.42.160 — Powers as to real estate., with citation guidance and answers to common questions.

§ 30A.42.160. Powers as to real estate.

An alien bank may purchase, hold and convey real estate for the following purposes and no other:
(1) Such as shall be necessary for the convenient transaction of its business, including with its banking offices other apartments in the same building to rent as a source of income: PROVIDED, That not to exceed thirty percent of its capital and surplus and undivided profits may be so invested without the approval of the director.
(2) Such as shall be purchased or conveyed to it in satisfaction, or on account of, debts previously contracted in the course of business.
(3) Such as it shall purchase at sale under judgments, decrees, liens or mortgage foreclosures, against securities held by it.
(4) Such as it may take title to or for the purpose of investing in real estate conditional sales contracts.
(5) Such as shall be convenient for the residences of its employees.
No real estate except that specified in subsections (1) and (5) of this section may be carried as an asset on the corporation's books for a longer period than five years from the date title is acquired thereto, unless an extension of time be granted by the director.
[ 1994 c 92 s 92; 1975 1st ex.s. c 285 s 3; 1973 1st ex.s. c 53 s 16. Formerly RCW 30.42.160.]

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

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Frequently Asked Questions About Washington § 30A.42.160

What does Revised Code of Washington § 30A.42.160 cover?

Section 30A.42.160 ("Powers as to real estate.") 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.42.160?

A common citation format is "Revised Code of Washington § 30A.42.160" (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.42.160 apply to my situation?

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