RCW 32.32.065: Limitation on subscription and purchase of shares by person with associate or group

RCWs > Title 32 > Chapter 32.32 > Section 32.32.065

32.32.060 << 32.32.065 >> 32.32.070

PDFRCW 32.32.065

Limitation on subscription and purchase of shares by person with associate or group—Amount.

The number of shares which any person together with any associate or group of persons acting in concert may subscribe for or purchase in the conversion shall not exceed five percent of the total offering of shares. For purposes of this section, the members of the converting savings bank's board of directors shall not be deemed to be associates or a group acting in concert solely as a result of their board membership.

[ 1981 c 85 § 12.]