Purchase of own capital stock authorized.

  1. Law
  2. Revised Code of Washington
  3. Washington Commercial Bank Act
  4. General Provisions.
  5. Purchase of own capital stock authorized.

Checkout our iOS App for a better way to browser and research.

(1) Notwithstanding any other provision of this title, a bank, with the prior approval of the director, may purchase shares of its own capital stock.

(2) When a bank purchases such shares, its capital accounts shall be reduced appropriately. The shares shall be held as authorized but unissued shares.

[ 1994 c 92 § 24; 1986 c 279 § 12; 1985 c 305 § 1. Formerly RCW 30.04.238.]


Download our app to see the most-to-date content.