Section 32.16.140. Violations—Trustees' or directors' liability.

If the trustees or directors of any savings bank or holding company shall knowingly violate, or knowingly permit any of the officers, agents, or employees of the savings bank or holding company to violate any of the provisions of this title or any lawful regulation or directive of the director, and if the trustees or directors are aware that such facts and circumstances constitute such violations, then each trustee or director who participated in or assented to the violation is personally and individually liable for all damages which the state or any insurer of the deposits of the savings bank sustains due to the violation.

[ 2010 c 88 § 56; 1994 c 92 § 335; 1989 c 180 § 9.]

NOTES:

Effective date—2010 c 88: See RCW 32.50.900.

2010 c 88 § 56; 1994 c 92 § 335; 1989 c 180 § 9.