Upon the completion of a receivership through merger, purchase of assets and assumption of liabilities, or liquidation, the director shall terminate the credit union's authority to conduct business and certify that fact to the secretary of state. Upon certification, the credit union shall cease to exist and the secretary of state shall note that fact upon his or her records.
RCW 31.12.707
Completion of receivership—Merger, purchase, or liquidation—Secretary of state.
Known as the Washington State Credit Union Act
The act spans §§ 31–31 (99 sections).
1997 c 397 s 81.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.