RCW 32.20.240
100 words·~1 min read·
/wa/title-32/chapter-32-20/32-20-240·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A mutual savings bank may invest its funds in promissory notes made payable to the order of the savings bank, secured by the pledge or assignment of the account of the mutual savings bank as collateral security for the payment thereof. No such loan shall exceed the balance due the holder of such account.
[ 1967 c 145 s 5 ; 1955 c 13 s 32.20.240 . Prior: 1945 c 228 s 3 ; 1929 c 74 s 19 ; 1921 c 156 s 11m ; Rem. Supp. 1945 s 3381-19.]
Notes:
Interest and usury in general: Chapter 19.52 RCW.