Washington § 32.20.380 - Stocks, securities, of corporations not otherwise eligible for investment.

Full text of Washington Revised Code of Washington § 32.20.380 — Stocks, securities, of corporations not otherwise eligible for investment., with citation guidance and answers to common questions.

§ 32.20.380. Stocks, securities, of corporations not otherwise eligible for investment.

A mutual savings bank may invest its funds in stocks or other securities of corporations not otherwise eligible for investment by the savings bank which are prudent investments for the bank in the opinion of its board of trustees or of a committee thereof whose action is ratified by the board at its regular meeting next following the investment. The total amount a mutual savings bank may invest pursuant to this section shall not exceed fifty percent of the total of its guaranty fund, undivided profits, and unallocated reserves, or five percent of its deposits, whichever is less.
[ 1981 c 86 s 6; 1963 c 176 s 16.]

Notes

Severability—1981 c 86: See note following RCW 32.08.140.

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

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Frequently Asked Questions About Washington § 32.20.380

What does Revised Code of Washington § 32.20.380 cover?

Section 32.20.380 ("Stocks, securities, of corporations not otherwise eligible for investment.") 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 § 32.20.380?

A common citation format is "Revised Code of Washington § 32.20.380" (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 § 32.20.380 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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