Revised Code of Washington - RCW Title 32 Mutual Savings Banks - Section 32.32.110 Restriction on sale of shares of stock by directors and officers

§ 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 § 21.]

Sections:  Previous  32.32.075  32.32.080  32.32.085  32.32.090  32.32.095  32.32.100  32.32.105  32.32.110  32.32.115  32.32.120  32.32.125  32.32.130  32.32.135  32.32.140  32.32.145  Next

Last modified: April 7, 2009