Washington § 31.12.694 - Remaining assets — Distribution.

Full text of Washington Revised Code of Washington § 31.12.694 — Remaining assets — Distribution., with citation guidance and answers to common questions.

§ 31.12.694. Remaining assets — Distribution.

When all expenses of the receivership have been paid, as well as all proper claims of share account holders, depositors, and other creditors, and proper provision has been made for unclaimed or unpaid debts and liquidation dividends, and assets of the credit union still remain, the receiver shall wind up the affairs of the credit union and distribute its assets to those entitled to them. Each share account holder and depositor at the credit union is entitled to a proportionate share of the assets remaining. The proportionate allocation shall be based on account balances as of a date determined by the board. For the purposes of liquidation, shares and deposits are equivalent.
[ 1997 c 397 s 77.]

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Frequently Asked Questions About Washington § 31.12.694

What does Revised Code of Washington § 31.12.694 cover?

Section 31.12.694 ("Remaining assets — Distribution.") 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 § 31.12.694?

A common citation format is "Revised Code of Washington § 31.12.694" (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 § 31.12.694 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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