Washington § 32.20.440 - Purchase of United States securities from banks or trust companies.

Full text of Washington Revised Code of Washington § 32.20.440 — Purchase of United States securities from banks or trust companies., with citation guidance and answers to common questions.

§ 32.20.440. Purchase of United States securities from banks or trust companies.

A mutual savings bank may invest its funds in the purchase of United States government securities from a bank or trust company, subject to the selling bank's or trust company's agreement to repurchase such securities on the business day next following their purchase by the mutual savings bank. The securities may be purchased at par, or at a premium or discount, as the mutual savings bank may agree, and may be characterized for accounting and statement purposes and carried on the books of the mutual savings bank as such securities to the extent of their market value, and as due from such banks or trust companies to the extent that the repurchase price agreed to be paid exceeds such market value.
[ 1971 ex.s. c 222 s 4.]

Notes

Severability—1971 ex.s. c 222: See note following RCW 32.04.085.

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

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Frequently Asked Questions About Washington § 32.20.440

What does Revised Code of Washington § 32.20.440 cover?

Section 32.20.440 ("Purchase of United States securities from banks or trust companies.") 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 § 32.20.440?

A common citation format is "Revised Code of Washington § 32.20.440" (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 § 32.20.440 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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