Other LanguagesBranch banks are not authorized in rural areas of a county except where principal place of business is located.
A public housing authority established pursuant to chapter 35.82 RCW, although authorized to purchase time certificates of deposit issued by certain in-state financial institutions under chapter 39.68 RCW, has no legal authority to purchase such certificates of deposit when issued by out-of-state financial institutions.
(1) The limitation in RCW 39.58.130 upon public deposits with a particular bank or trust company applies to all funds, in the aggregate, deposited by a county treasurer rather than separately to the funds of each municipality served by such treasurer. (2) The protections of chapter 39.58 RCW extend to all public funds on deposit with qualified depositaries irrespective of the limitations of RCW 39.58.130 and without regard to the reasons attributable to the violation of the statutory restriction.
Section 11, chapter 176, Laws of 1963 (RCW 32.12.100) qualifies mutual savings banks, under certain conditions, as depositaries of public funds for the political subdivisions of the state set forth therein.
The obligation of a bank officer as joint mortgagor for accommodation of third party is included in the total amount of obligations of officer which statute permits bank to acquire.