Washington § 39.58.135 - Limitations on deposits.

Full text of Washington Revised Code of Washington § 39.58.135 — Limitations on deposits., with citation guidance and answers to common questions.

§ 39.58.135. Limitations on deposits.

Notwithstanding RCW 39.58.130, (1) aggregate deposits received by a public depositary from all treasurers and the state treasurer shall not exceed at any time one hundred fifty percent of the value of the depositary's net worth, nor (2) shall the aggregate deposits received by any public depositary exceed thirty percent of the total aggregate deposits of all public treasurers in all depositaries as determined by the commission. However, a public depositary may receive deposits in excess of the limits provided in this section if eligible collateral, as prescribed in RCW 39.58.050, are pledged in an amount equal to one hundred percent of the value of deposits received in excess of the limitations prescribed in this section.
[ 2016 c 152 s 5; 2009 c 9 s 12; 1996 c 256 s 15; 1986 c 25 s 1; 1984 c 177 s 19.]

Notes

Effective date—2009 c 9: See note following RCW 39.58.010.

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Frequently Asked Questions About Washington § 39.58.135

What does Revised Code of Washington § 39.58.135 cover?

Section 39.58.135 ("Limitations on deposits.") 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 § 39.58.135?

A common citation format is "Revised Code of Washington § 39.58.135" (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 § 39.58.135 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.