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2019 Revised Code of Washington
Title 48 - Insurance
Chapter 48.08 - Domestic Stock Insurers.
48.08.040 Illegal dividends, reductions—Penalty against directors.
Universal Citation: WA Rev Code § 48.08.040 (2019)
RCW 48.08.040 Illegal dividends, reductions—Penalty against directors.
Any director of a domestic stock insurer who votes for or concurs in the declaration or payment of any dividend to stockholders or a reduction of capital stock not authorized by law shall, in addition to any other liability imposed by law, be guilty of a gross misdemeanor.
[1947 c 79 § .08.04; Rem. Supp. 1947 § 45.08.04.]
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