Wash. Rev. Code § 48.08.040

Current through the 2024 Regular Session
Section 48.08.040 - Illegal dividends, reductions-Penalty against directors

Any director of a domestic stock insurer who votes for or concurs in the declaration or payment of any dividend to stockholders or a reduction of capital stock not authorized by law shall, in addition to any other liability imposed by law, be guilty of a gross misdemeanor.

RCW 48.08.040

1947 c 79 § .08.04; Rem. Supp. 1947 § 45.08.04.