Washington § 33.40.070 - Liquidator's powers.

Full text of Washington Revised Code of Washington § 33.40.070 — Liquidator's powers., with citation guidance and answers to common questions.

§ 33.40.070. Liquidator's powers.

The liquidator, upon the approval of the court, may sell, discount, or compromise debts of the association and claims against its debtors. The liquidator, with the approval of the court, may lease, operate, repair, exchange, or sell, either for cash or upon terms, the real and personal property of the association.
The liquidator, with the approval of the court, when funds are available, may pay savings members whose balances amount to not more than five dollars, the full amount of the balances.
Checks issued or payments held by the liquidator which remain undelivered for six months following the final liquidation dividend shall be deposited with the director, after which the liquidator shall be discharged by the court. During ten years thereafter, the director shall deliver the checks or payments, or the director's own checks in lieu thereof, to the payee, or his or her legal representative, upon receipt of satisfactory evidence of the payee's right thereto. After the ten years, the director shall cancel all such checks or payments remaining in the director's possession and issue a check against the account for the amount thereof, payable to the state treasurer, and deliver it to the state treasurer. Such payment shall escheat to the state, without further legal proceedings.
[ 1994 c 92 s 459; 1982 c 3 s 69; 1953 c 71 s 10; 1945 c 235 s 108; Rem. Supp. 1945 s 3717-227. Prior: 1935 c 171 s 4; 1933 c 183 ss 70, 73, 74, 78.]

Notes

Severability—1982 c 3: See note following RCW 33.04.002.

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Frequently Asked Questions About Washington § 33.40.070

What does Revised Code of Washington § 33.40.070 cover?

Section 33.40.070 ("Liquidator's powers.") 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 § 33.40.070?

A common citation format is "Revised Code of Washington § 33.40.070" (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 § 33.40.070 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.