Expense of liquidation—Priority for director's expenses

Revised Code of Washington

Section: 30B.44B.120

Jurisdiction: WA

Bluebook Citation: Wash. Rev. Code § 30B.44B.120

(1) All expenses incurred by the director in taking possession, administering, and resolving any state trust company dissolved pursuant to this chapter, including the expenses of assistants or agents and reasonable fees for any attorney who may be employed in connection with such administration and resolution, and the reasonable compensation of any special assistant or agent placed in charge of such dissolved state trust company, shall be a priority charge upon the assets of the dissolved state trust company and shall be senior to any approved third-party claims.(2) Such charges for expenses as set forth in subsection (1) of this section shall be fixed by the director, subject to the approval of the superior court.

Chat with this statute using AI

Ask CiteLaw's AI Navigator anything about this statute, verify citations, and research related authorities. Sign up for CiteLaw free today to get started.