33.40.150 - Appointment of provisional officers and directors.

Appointment of provisional officers and directors.

(1) The director of financial institutions, after exercising the authority granted in RCW 33.16.040, may appoint provisional officers and directors, in whole or in part, of an association.

     (2) Notice of the appointment shall be served upon the association, and the appointment shall take effect immediately and shall remain in effect until a successor is chosen in accordance with the association's bylaws.

[1994 c 92 § 465; 1985 c 239 § 2.]