Washington § 30A.44.020 - Director may order levy of assessment.

Full text of Washington Revised Code of Washington § 30A.44.020 — Director may order levy of assessment., with citation guidance and answers to common questions.

§ 30A.44.020. Director may order levy of assessment.

(1) Whenever it shall in any manner appear to the director that any offense or delinquency referred to in RCW 30A.44.010 has resulted in a bank being critically undercapitalized with no reasonably foreseeable prospect of recovery, or that it has suspended payment of its obligations or is insolvent, the director may notify such bank to levy an assessment on its stock or otherwise to make good such impairment or offense or other delinquency within such time and in such manner as the director may specify, or if the director deems necessary, the director may take possession thereof without notice.
(2) The board of directors of any such bank, with the consent of the holders of record of two-thirds of the capital stock expressed either in writing or by vote at a stockholders' meeting called for that purpose, shall have power and authority to levy such assessment upon the stockholders pro rata and to forfeit the stock upon which any such assessment is not paid, in the manner prescribed in RCW 30A.12.180.
[ 2014 c 37 s 224; 2010 c 88 s 31; 1994 c 92 s 108; 1955 c 33 s 30.44.020. Prior: 1923 c 115 s 9; 1917 c 80 s 60; RRS s 3267. Formerly RCW 30.44.020.]

Notes

Effective date—2010 c 88: See RCW 32.50.900.
Levy of assessments: RCW 30A.12.180.

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

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Frequently Asked Questions About Washington § 30A.44.020

What does Revised Code of Washington § 30A.44.020 cover?

Section 30A.44.020 ("Director may order levy of assessment.") 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.

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A common citation format is "Revised Code of Washington § 30A.44.020" (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.

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