Statutes > Washington Statutes > Title 32 - Mutual savings banks > 32.32 - Conversion of mutual savings bank to capital stock savings bank. > 32.32.190 - Liquidation account -- Maintenance required -- Subaccounts.

32.32.190 - Liquidation account -- Maintenance required -- Subaccounts.

Liquidation account — Maintenance required — Subaccounts.

The liquidation account shall be maintained by the converted savings bank for the benefit of eligible account holders and supplemental eligible account holders who maintain their savings accounts in the bank. Each such eligible account holder shall, with respect to each savings account, have a related inchoate interest in a portion of the liquidation account balance ("subaccount").

[1981 c 85 § 37.]