RCW 32.20.410
151 words·~1 min read·
/wa/title-32/chapter-32-20/32-20-410·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The aggregate total amount a mutual savings bank may invest in the following shall not exceed the sum of eighty-five percent of its funds and one hundred percent of its borrowings as permitted under RCW 32.08.140 , as now or hereafter amended and RCW 32.08.190 , as now or hereafter amended:
(1)Mortgages upon real estate and participations therein;
(2)Contracts for the sale of realty;
(3)Mortgages upon leasehold estates; and
(4)Notes secured by pledges or assignments of first mortgages or real estate contracts.
The limitation of this section shall not apply to GNMA certificates, mortgage backed bonds, mortgage pass-through certificates or other similar securities purchased or held by the bank.
[ 1981 c 86 s 8 ; 1977 ex.s. c 104 s 7 ; 1969 c 55 s 10 ; 1963 c 176 s 19 .]
Notes:
Severability — 1981 c 86: See note following RCW 32.08.140 .