There is a newer version
of
this Section
2017 Revised Code of Washington
Title 32 - WASHINGTON SAVINGS BANK ACT
32.32 Conversion of mutual savings bank to capital stock savings bank.
32.32.110 Restriction on sale of shares of stock by directors and officers.
Universal Citation: WA Rev Code § 32.32.110 (2017)
RCW 32.32.110 Restriction on sale of shares of stock by directors and officers.
All shares of capital stock purchased by directors and officers on original issue in the conversion either directly from the savings bank (by subscription or otherwise) or from an underwriter of the shares shall be subject to the restriction that the shares shall not be sold for a period of not less than three years following the date of purchase, except in the event of death of the director or officer.
[ 1981 c 85 ยง 21.]
Disclaimer: These codes may not be the most recent version. Washington may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
