Wash. Rev. Code § 30A.04.238 – Purchase of own capital stock authorized. | Midpage

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Revised Code of Washington

§ 30A.04.238

Wash. Rev. Code § 30A.04.238

Purchase of own capital stock authorized.

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

(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 s 24; 1986 c 279 s 12; 1985 c 305 s 1. Formerly RCW 30.04.238.]