§ 33.48.040. Stock dividends, when
No dividends shall be declared on stock until the association has met the net worth and federal insurance requirements of the federal savings and loan insurance corporation. Subject to the provisions of this chapter, stock shall be entitled to such rate of dividend, if earned, as fixed by the board. Stock dividends may be declared and issued by the board at any time, payable from otherwise unallocated surplus and undivided profits.
[1982 c 3 § 93; 1981 c 84 § 2; 1979 c 113 § 14; 1955 c 122 § 5.]
Notes:
Severability -- 1982 c 3: See note following RCW 33.04.002.
Severability -- 1979 c 113: See note following RCW 33.04.020.
Sections: Previous 33.48.025 33.48.030 33.48.040 33.48.080 33.48.090 33.48.100 33.48.110 33.48.120 33.48.130 33.48.140 33.48.150 33.48.160 33.48.170 33.48.180 33.48.190 Next
Last modified: April 7, 2009