Stock at less than par—Impairment.

  1. Law
  2. Revised Code of Washington
  3. Washington Commercial Bank Act
  4. Capital Notes or Debentures.
  5. Stock at less than par—Impairment.

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

Where any bank or mutual savings bank has issued and has outstanding capital notes or debentures, it may carry its capital stock on its books at a sum less than par, and it shall not be considered impaired so long as the amount of such capital notes or debentures equals or exceeds the impairment as found by the director.

[ 2014 c 37 § 206; 1994 c 92 § 77; 1955 c 33 § 30.36.030. Prior: 1935 c 42 § 3; RRS § 3295-3. Formerly RCW 30.36.030.]


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