Washington § 32.32.030 - Prohibition on approval of certain applications for conversion.

Full text of Washington Revised Code of Washington § 32.32.030 — Prohibition on approval of certain applications for conversion., with citation guidance and answers to common questions.

§ 32.32.030. Prohibition on approval of certain applications for conversion.

No application for conversion may be approved by the director if:
(1) The plan of conversion adopted by the applicant's board of directors is not in accordance with this chapter;
(2) The conversion would result in a reduction of the applicant's net worth below requirements established by the director;
(3) The conversion may result in a taxable reorganization of the applicant under the United States Internal Revenue Code of 1954, as amended; or
(4) The converted savings bank does not meet the insurance requirements as established by the director.
[ 1994 c 92 s 353; 1981 c 85 s 5.]

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

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Frequently Asked Questions About Washington § 32.32.030

What does Revised Code of Washington § 32.32.030 cover?

Section 32.32.030 ("Prohibition on approval of certain applications for conversion.") 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 § 32.32.030?

A common citation format is "Revised Code of Washington § 32.32.030" (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 § 32.32.030 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.