§ 32.32.235. Plan of conversion -- Charter restrictions permitted
To the extent permitted by applicable federal or state law, a plan of conversion may provide for a provision in the charter of the converted savings bank containing, in substance, the restriction set forth in RCW 32.32.230. There may also be included a restriction providing that the charter provision may be amended only by a vote of up to seventy-five percent of the votes eligible to be cast at a regular or special meeting of shareholders of the converted savings bank. If the converted savings bank elects to adopt the foregoing optional charter provision, the director shall impose, as a condition to approval of the conversion, a requirement that the converted savings bank fully enforce the charter provision.
[1994 c 92 § 368; 1981 c 85 § 46.]
Sections: Previous 32.32.210 32.32.215 32.32.220 32.32.222 32.32.225 32.32.228 32.32.230 32.32.235 32.32.240 32.32.245 32.32.250 32.32.255 32.32.260 32.32.265 32.32.270 NextLast modified: April 7, 2009