Code · Washington · Title 32 — Washington Savings Bank Act · Chapter 32.32

RCW 32.32.215

109 words·~1 min read·/wa/title-32/chapter-32-32/32-32-215·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.

[ 1994 c 92 s 363 ; 1985 c 56 s 22 ; 1981 c 85 s 42 .]

Notes:

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