Washington § 30A.56.060 - Approval of plan — Unsecured claims.

Full text of Washington Revised Code of Washington § 30A.56.060 — Approval of plan — Unsecured claims., with citation guidance and answers to common questions.

§ 30A.56.060. Approval of plan — Unsecured claims.

If, within ninety days after the filing of the plan, creditors having unsecured demands against the bank aggregating not less than three-fourths of the amount of the unsecured demands of all its creditors, approved the plan, the director shall have power to declare the plan to be in effect. Thereupon the unsecured demands of creditors shall be ratably reduced according to the plan and appropriate debits shall be made in the books. The right of a secured creditor to enforce his or her security shall not be affected by the operation of the plan, but the amount of any deficiency to which he or she may be entitled shall be reduced as unsecured demands were reduced. If the plan contemplates a temporary postponement of payments, RCW 30A.56.020, 30A.56.030, and 30A.56.040 shall be applicable, and the bank shall comply therewith and conduct its affairs accordingly.
[ 2014 c 37 s 257; 1994 c 92 s 154; 1955 c 33 s 30.56.060. Prior: 1933 c 49 s 6; RRS s 3293-6. Formerly RCW 30.56.060.]

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

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Frequently Asked Questions About Washington § 30A.56.060

What does Revised Code of Washington § 30A.56.060 cover?

Section 30A.56.060 ("Approval of plan — Unsecured claims.") 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.56.060?

A common citation format is "Revised Code of Washington § 30A.56.060" (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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