Washington § 39.58.070 - Subrogation of commission to depositor's rights — Sums received from distribution of assets, payment.

Full text of Washington Revised Code of Washington § 39.58.070 — Subrogation of commission to depositor's rights — Sums received from distribution of assets, payment., with citation guidance and answers to common questions.

§ 39.58.070. Subrogation of commission to depositor's rights — Sums received from distribution of assets, payment.

Upon payment to any public depositor, the commission shall be subrogated to all of such depositor's right, title and interest against the public depositary in which the loss occurred and shall share in any distribution of its assets ratably with other depositors. Any sums received from any distribution shall be paid to the public depositors to the extent of any unpaid net deposit liability and the balance remaining shall be paid to the public depositaries against which assessments were made, pro rata in proportion to the assessments actually paid by each such depositary: PROVIDED, That the public depositary in which the loss occurred shall not share in any such distribution of the balance remaining. If the commission incurs expense in enforcing any such claim, the amount thereof shall be paid as a liquidation expense of the public depositary in which the loss occurred.
[ 1996 c 256 s 7; 1973 c 126 s 13; 1969 ex.s. c 193 s 7.]

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

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Frequently Asked Questions About Washington § 39.58.070

What does Revised Code of Washington § 39.58.070 cover?

Section 39.58.070 ("Subrogation of commission to depositor's rights — Sums received from distribution of assets, payment.") 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 § 39.58.070?

A common citation format is "Revised Code of Washington § 39.58.070" (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 § 39.58.070 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.

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