Statutes, codes, and regulations
Revised Code of Washington
Title 32 - WASHINGTON SAVINGS BANK ACT
Chapter 32.32 - CONVERSION OF MUTUAL SAVINGS BANK TO CAPITAL STOCK SAVINGS BANK
Section 32.32.215 - Limitation on cash dividends

Wash. Rev. Code § 32.32.215

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Current through Chapter 376 of the 2024 Regular Session
Section 32.32.215 - Limitation on cash dividends

Except as provided in RCW 32.32.222, no converted savings bank may declare or pay a cash dividend unless the declaration or payment of the dividend would be in accordance with the requirements of *RCW 30.04.180 and would not have the effect of reducing the net worth of the converted savings bank below (1) the amount required for the liquidation account or (2) the amount required by the director.

RCW 32.32.215

1994 c 92 § 363; 1985 c 56 § 22; 1981 c 85 § 42.

*Reviser's note:RCW 30.04.180 was recodified as RCW 30A.04.180 pursuant to 2014 c 37 § 4, effective January 5, 2015.