Washington § 68.44.030 - Authorized investments.

Full text of Washington Revised Code of Washington § 68.44.030 — Authorized investments., with citation guidance and answers to common questions.

§ 68.44.030. Authorized investments.

Endowment care funds shall be kept invested in accordance with the provisions of RCW 11.100.020 subject to the following restrictions:
(1) No officer or director of the cemetery authority, trustee of the endowment care or special care funds, or spouse, sibling, parent, grandparent, or issue of such officer, director, or trustee, shall borrow any of such funds for himself or herself, directly or indirectly.
(2) No funds shall be loaned to the cemetery authority, its agents, or employees, or to any corporation, partnership, or other business entity in which the cemetery authority has any ownership interest.
(3) No funds shall be invested with persons or business entities operating in a business field directly related to cemeteries, including, but not limited to, mortuaries, monument production and sales, florists, and rental of funeral facilities.
(4) Notwithstanding any other provisions contained in this section, funds may be invested in any commercial bank, mutual savings bank, or savings and loan association duly chartered and operating under the laws of the United States or statutes of the state of Washington.
[ 2012 c 117 s 313; 1985 c 30 s 138. Prior: 1984 c 149 s 175; 1979 c 21 s 19; 1953 c 290 s 13; 1943 c 247 s 127; Rem. Supp. 1943 s 3778-127.]

Notes

Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.

Related Washington Legal Topics

Frequently Asked Questions About Washington § 68.44.030

What does Revised Code of Washington § 68.44.030 cover?

Section 68.44.030 ("Authorized 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 § 68.44.030?

A common citation format is "Revised Code of Washington § 68.44.030" (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 § 68.44.030 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.