32.20.445 - Stock, other securities, and obligations of federally insured institutions.

Stock, other securities, and obligations of federally insured institutions.

A savings bank may invest its funds in the stock and other securities and obligations of a savings or banking institution or holding company thereof if the deposits of the savings or banking institution are insured by the federal deposit insurance corporation or any other federal instrumentalities established to carry on substantially the same functions as such corporations.

[1999 c 14 § 29; 1989 c 180 § 8.]

Notes: Severability -- 1999 c 14: See RCW 32.35.900.