Washington § 33.24.060 - Obligations of municipal corporations in any state.

Full text of Washington Revised Code of Washington § 33.24.060 — Obligations of municipal corporations in any state., with citation guidance and answers to common questions.

§ 33.24.060. Obligations of municipal corporations in any state.

An association may invest its funds in the valid warrants or bonds of any city, county, school district, port district, or other municipal corporation in the United States having a population of not less than fifty thousand inhabitants as determined by the last federal census, which municipal corporation has not defaulted in the payment of interest or principal upon any general obligation, including those for which its credit was pledged, within ten years last past, and for the payment of which the faith and credit of such municipal corporation is pledged and taxes are leviable upon all taxable property within its limits. No such investment shall be made unless the warrants or bonds for purchase are rated not less than BAA by Moody's Investors' Service, or have equivalent rating of another standard rating bureau, and the aggregate of the investments of an association in any issue of such warrants or bonds shall at no time exceed five percent of the amount of its savings accounts.
[ 1945 c 235 s 63; Rem. Supp. 1945 s 3717-182. Prior: 1939 c 98 s 11; 1933 c 183 s 56.]

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

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Frequently Asked Questions About Washington § 33.24.060

What does Revised Code of Washington § 33.24.060 cover?

Section 33.24.060 ("Obligations of municipal corporations in any state.") 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 § 33.24.060?

A common citation format is "Revised Code of Washington § 33.24.060" (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 § 33.24.060 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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