Washington § 31.12.721 - Appointment by court of temporary receiver — Notice to director.

Full text of Washington Revised Code of Washington § 31.12.721 — Appointment by court of temporary receiver — Notice to director., with citation guidance and answers to common questions.

§ 31.12.721. Appointment by court of temporary receiver — Notice to director.

No receiver may be appointed by any court for any credit union, except that a court otherwise having jurisdiction may in case of imminent necessity appoint a temporary receiver to take possession of and preserve the assets of the credit union. Immediately upon appointment, the clerk of the court shall notify the director in writing of the appointment and the director shall appoint a receiver to take possession of the credit union and the temporary receiver shall upon demand surrender possession of the assets of the credit union to the receiver. The receiver may in due course pay the temporary receiver out of the assets of the credit union, subject to the approval of the court.
[ 1997 c 397 s 85.]

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

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Frequently Asked Questions About Washington § 31.12.721

What does Revised Code of Washington § 31.12.721 cover?

Section 31.12.721 ("Appointment by court of temporary receiver — Notice to director.") 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 § 31.12.721?

A common citation format is "Revised Code of Washington § 31.12.721" (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 § 31.12.721 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

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.