These documents are currently being revised to incorporate the changes made during the 2024 Legislative Session. Please consult the Sections Affected Table for changes made during the 2024 Legislative Session.
Limitation on cash dividends.
Except as provided in RCW
32.32.222, no converted savings bank may declare or pay a cash dividend unless the declaration or payment of the dividend would be in accordance with the requirements of *RCW
30.04.180 and would not have the effect of reducing the net worth of the converted savings bank below (1) the amount required for the liquidation account or (2) the amount required by the director.
NOTES:
*Reviser's note: RCW
30.04.180 was recodified as RCW
30A.04.180 pursuant to 2014 c 37 § 4, effective January 5, 2015.