Wash. Rev. Code » Title 30A · Chapter 30A.22
Revised Code of Washington

Wash. Rev. Code § 30A.22.020 (2026)

Purposes

✓ current as of May 2026
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The purposes of this chapter are:
(1) To provide a consistent law applicable to all financial institutions authorized to accept deposits from individuals with respect to payments by the institutions to individuals claiming rights to the deposited funds; and
(2) To qualify and simplify the law concerning the respective ownership interests of individuals to funds held on deposit by financial institutions, both as to the relationship between the individual depositors and beneficiaries of an account, and to the financial institution-depositor-beneficiary relationships; and
(3) To simplify and make consistent the law pertaining to payments by financial institutions of deposited funds both before and after the death of a depositor or depositors, including provisions for the validity and effect of certain nontestamentary transfers of deposits upon the death of one or more depositors.
[ 1981 c 192 s 2. Formerly RCW 30.22.020.]
Notes of Decisions
Cited in 1 case, 2015–2015 · leading case: Ellis v. Mirghanbari (In re Pittman), 540 B.R. 451 (Bankr. W.D. Wash. 2015).
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Ellis v. Mirghanbari (In re Pittman), 540 B.R. 451 (Bankr. W.D. Wash. 2015). “In addition, RCW 30A.22.020(2) specifically provides that one of the purposes of the Deposit Act is to “qualify and simplify the law concerning the respective ownership interests of individuals to funds held on deposit by financial institutions, both as to the relationship…”
— Wash. Rev. Code § 30A.22.020(2) — 1 case
Ellis v. Mirghanbari (In re Pittman), 540 B.R. 451 (Bankr. W.D. Wash. 2015). “In addition, RCW 30A.22.020(2) specifically provides that one of the purposes of the Deposit Act is to “qualify and simplify the law concerning the respective ownership interests of individuals to funds held on deposit by financial institutions, both as to the relationship…”
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