# RCW 32.08.010: RCW 32.08.010: Authority to organize—Incorporators—Certificate

> Washington · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S010

## Section

- **Citation:** RCW 32.08.010
- **Heading:** RCW 32.08.010: Authority to organize—Incorporators—Certificate
- **Jurisdiction:** Washington
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Washington Code / Title 32 / Chapter 08 / Section 010

## Text

When authorized by the director, as hereinafter provided, not less than nine nor more than thirty persons may form a corporation to be known as a "mutual savings bank." Such persons must be citizens of the United States; at least four-fifths of them must be residents of this state, and at least two-thirds of them must be residents of the county where the bank is to be located and its business transacted. They shall subscribe an incorporation certificate in triplicate which shall specifically state: (1) The name by which the savings bank is to be known, which name shall include the words "mutual savings bank"; (2) The place where the bank is to be located, and its business transacted, naming the city or town and county; (3) The name, occupation, residence, and post office address of each incorporator; (4) The sums which each incorporator will contribute in cash to the initial guaranty fund, and to the expense fund respectively, as provided in RCW 32.08.090 and 32.08.100 ; (5) Any provision the incorporators elect to so set forth which is permitted by RCW 23B.17.030 ; (6) Any other provision the incorporators elect to so set forth which is not inconsistent with this chapter; (7) A declaration that each incorporator will accept the responsibilities and faithfully discharge the duties of a trustee of the savings bank, and is free from all the disqualifications specified in RCW 32.16.010 .

## Nearby sections

- [RCW 32.08.010 RCW 32.08.010: Authority to organize—Incorporators—Certificate.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S010.md)
- [RCW 32.08.020 RCW 32.08.020: Notice of intention.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S020.md)
- [RCW 32.08.025 RCW 32.08.025: Limited liability company—Organization or conversion—Approval of director—Conditions—Application of chapter 25.15 RCW—Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S025.md)
- [RCW 32.08.030 RCW 32.08.030: Submission of certificate—Proof of service of notice.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S030.md)
- [RCW 32.08.040 RCW 32.08.040: Examination and action by director.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S040.md)
- [RCW 32.08.050 RCW 32.08.050: Appeal from adverse decision.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S050.md)
- [RCW 32.08.060 RCW 32.08.060: Procedure upon approval.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S060.md)
- [RCW 32.08.061 RCW 32.08.061: Extension of period of existence—Procedure.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S061.md)
- [RCW 32.08.070 RCW 32.08.070: Authorization certificate.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S070.md)
- [RCW 32.08.080 RCW 32.08.080: Conditions precedent to reception of deposits.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S080.md)
- [RCW 32.08.090 RCW 32.08.090: Expense fund—Agreement to contribute further—Security.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S090.md)
- [RCW 32.08.100 RCW 32.08.100: Guaranty fund.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S100.md)
- [RCW 32.08.110 RCW 32.08.110: Guaranty fund—Purpose.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S110.md)
- [RCW 32.08.115 RCW 32.08.115: Guaranty fund—Payment of interest and dividends—Legislative declaration.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S115.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_T32_C08_S010. Check the current official text before relying on it. Not legal advice.