Washington § 54.24.120 - Obligations as lawful securities and investments.

Full text of Washington Revised Code of Washington § 54.24.120 — Obligations as lawful securities and investments., with citation guidance and answers to common questions.

§ 54.24.120. Obligations as lawful securities and investments.

All bonds, warrants, and revenue obligations issued under the authority of chapter 1, Laws of 1931 and chapter 182, Laws of 1941 shall be legal securities, which may be used by any bank or trust company for deposit with the state treasurer, or any county, city, or town treasurer, as security for deposits in lieu of a surety bond under any law relating to deposits of public moneys and shall constitute legal investments for trustees and other fiduciaries other than corporations doing a trust business in this state and for savings and loan associations, banks, and insurance companies doing business in this state. All such bonds, warrants, and revenue obligations and all coupons appertaining thereto shall be negotiable instruments within the meaning of and for all purposes of the negotiable instruments law of this state.
[ 1959 c 218 s 13; 1941 c 182 s 11; Rem. Supp. 1941 s 11611-11.]

Notes

Investment securities: Article 62A.8 RCW.

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

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Frequently Asked Questions About Washington § 54.24.120

What does Revised Code of Washington § 54.24.120 cover?

Section 54.24.120 ("Obligations as lawful securities and investments.") 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 § 54.24.120?

A common citation format is "Revised Code of Washington § 54.24.120" (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 § 54.24.120 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.