RCW 30B.04.080
99 words·~1 min read·
/wa/title-30b/chapter-30b-04/30b-04-080·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A state trust company may acquire its own shares if:
(a)The amount of its capital is sufficient to fully absorb the acquisition of the shares under regulatory accounting principles; or
(b)The state trust company obtains the prior written approval of the director.
(2)A state trust company may acquire a lien upon its own shares if:
(a)The aggregate amount of indebtedness so secured is less than the amount of the state trust company's capital; or
(b)The state trust company obtains the prior written approval of the director.
[ 2014 c 37 s 310 .]