Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a mutual savings bank has under the laws of this state, a mutual savings bank shall have the powers and authorities that any federal mutual savings bank had on July 28, 1985, or a subsequent date not later than July 27, 2003. As used in this section, "powers and authorities" include without limitation powers and authorities in corporate governance matters.

     The restrictions, limitations, and requirements applicable to specific powers or authorities of federal mutual savings banks shall apply to mutual savings banks exercising those powers or authorities permitted under this section but only insofar as the restrictions, limitations, and requirements relate to exercising the powers or authorities granted mutual savings banks solely under this section.

[2003 c 24 § 7; 1999 c 14 § 18; 1996 c 2 § 24; 1994 c 256 § 98; 1985 c 56 § 3; 1981 c 86 § 10.]

NOTES:

     Severability -- 2003 c 24: See RCW 30.04.901.

     Severability -- 1999 c 14: See RCW 32.35.900.

     Severability -- 1996 c 2: See RCW 30.38.900.

     Findings -- Construction -- 1994 c 256: See RCW 43.320.007.

     Severability -- 1981 c 86: See note following RCW 32.08.140.