RCW 33.48.080: Member's proprietary interest—Subordinate to claims of creditors.

33.48.040 << 33.48.080 >> 33.48.090

PDFRCW 33.48.080

Member's proprietary interest—Subordinate to claims of creditors.

Each member in a stock association shall have a proportionate proprietary interest in its assets and net earnings subordinate to the claims of its creditors with priorities as established by this chapter.

[ 1982 c 3 s 94; 1969 c 107 s 8; 1967 c 49 s 6; 1955 c 122 s 9.]

NOTES:

Severability—1982 c 3: See note following RCW 33.04.002.