Washington § 31.12.726 - Conservator or receiver may terminate or adopt executory contracts — Timing — Binding terms — Liability.

Full text of Washington Revised Code of Washington § 31.12.726 — Conservator or receiver may terminate or adopt executory contracts — Timing — Binding terms — Liability., with citation guidance and answers to common questions.

§ 31.12.726. Conservator or receiver may terminate or adopt executory contracts — Timing — Binding terms — Liability.

After the taking of possession of the property and business of a credit union, through conservatorship or receivership, the conservator or receiver may terminate or adopt any executory contract to which the credit union may be a party, including leases of real or personal property. The termination or adoption shall be made within six months after obtaining knowledge of the existence of the contract or lease. Any provision in the contract or lease which provides for damages or cancellation fees upon termination shall not be binding on the conservator, receiver, or credit union. The director, conservator, or receiver, and credit union are not liable for damages.
[ 2010 c 87 s 18.]

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

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Frequently Asked Questions About Washington § 31.12.726

What does Revised Code of Washington § 31.12.726 cover?

Section 31.12.726 ("Conservator or receiver may terminate or adopt executory contracts — Timing — Binding terms — Liability.") 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 § 31.12.726?

A common citation format is "Revised Code of Washington § 31.12.726" (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 § 31.12.726 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.