Revised Code of Washington - RCW Title 33 Savings And Loan Associations - Chapter 33.48 Stock Associations

33.48.025 Applicability of chapter 23B.06 RCW
Except to the extent provided otherwise in this title, stock associations are subject to the provisions of chapter 23B.06 RCW.[1991 c 72 § 51; 1982 ...

33.48.030 Minimum amount of permanent stock required -- Preferred or special classes of shares authorized
Stock associations shall have permanent stock which may be issued with or without par value but with a statement of value of nonpar stock in ...

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 ...

33.48.080 Member's proprietary interest -- Subordinate to claims of creditors
Each member in a stock association shall have a proportionate proprietary interest in its assets and net earnings subordinate to the claims of its creditors ...

33.48.090 Dividends only if interest paid on deposits
No dividend shall be paid or credited upon shares of stock for any period in which the association has not declared and paid interest on ...

33.48.100 Conversion procedure -- Domestic stock to domestic mutual association
A domestic stock association may convert to a domestic mutual association under the provisions of applicable statutes and regulations of proper federal and state supervisory ...

33.48.110 Conversion procedure -- Mutual association to domestic stock association -- Rules implementing section -- Standard
Any mutual association, either domestic or federal, operating in the state of Washington may convert itself into a domestic stock association. The conversion shall be ...

33.48.120 Conversion procedure -- Creation of permanent loss reserve -- Disposition of reserve upon liquidation
The accumulated surplus and unallocated reserves of an association at the time of conversion to a stock association shall be designated as a permanent loss ...

33.48.130 Withdrawal of charter amendment or conversion application
The directors of an association which has voted to amend its charter or convert to another type of institution, may withdraw the application at any ...

33.48.140 Legislative intent -- Chapter to control over conflicting provisions
It is the intention of the legislature to grant, by this chapter, authority to create stock associations in this state, by either organization or conversion ...

33.48.150 Organizing permit -- Required
No subscriptions or funds from proposed stockholders of any proposed association, prior to its incorporation and prior to a decision by the director on its ...

33.48.160 Organizing permit -- Application
The application for an organizing permit under RCW 33.48.150 shall be in writing, verified as provided by law for the verification of pleadings and shall ...

33.48.170 Organizing permit -- Conditions
The director may impose conditions in the director's organizing permit issued under RCW 33.48.150 concerning the deposit in escrow of funds collected pursuant to said ...

33.48.180 Permit authorizing sale of stock -- Applicability
No association shall sell, take subscriptions for, or issue any stock until the association applies for and secures from the director a permit authorizing it ...

33.48.190 Permit authorizing sale of guaranty stock -- Required prior to sale of issued or outstanding stock
No issued and outstanding stock of an association shall be sold or offered for sale to the public, nor shall subscriptions be solicited or taken ...

33.48.200 Permit authorizing sale of stock -- Application -- Contents
An application for a permit to sell stock shall be in writing and shall be filed in the office of the director by the association. ...

33.48.210 Permit authorizing sale of stock -- Examination and investigation -- Issuance or denial
Upon the filing of the application for a permit to sell stock, the director shall examine the application and other papers and documents filed therewith ...

33.48.220 Recitation in permit to take subscriptions for stock
Every permit to take subscriptions for stock shall recite in bold face type that the issuance thereof is permissive only and does not constitute a ...

33.48.230 Sales of stock -- Imposition of conditions
With respect to sales of stock by an association, the director may impose conditions requiring the impoundment of the proceeds from the sale of stock, ...

33.48.240 Organizing permit -- Amendment, alteration, suspension, or revocation by director -- Grounds
The director may amend, alter, suspend, or revoke any permit issued under RCW 33.48.150 if there is a violation of the terms and conditions of ...

33.48.250 Purchase by association of stock issued by it -- Conditions
An association may purchase stock issued by it in an amount not to exceed the amount of earned surplus or undivided profits available for dividends ...

33.48.260 Reduction of stock -- Conditions
With the prior consent of the director, the stock of an association may be reduced by resolution of the board of directors approved by the ...

33.48.270 Reduction of stock -- Disposition of surplus
Any surplus resulting from reduction of stock shall not be available for dividends or other distribution to stockholders except upon liquidation.[1982 c 3 § 109; ...

33.48.280 Paid-in or contributed surplus or surplus created by reduction of stock -- Application and uses
An association may, by action of its board of directors and with the prior approval of the director, apply any part or all of any ...

33.48.290 RCW 33.48.150 through 33.48.280 inapplicable to foreign associations
RCW 33.48.150 through 33.48.280 do not apply to foreign associations doing business in this state pursuant to the provisions of chapter 33.32 RCW.[1982 c 3 ...

33.48.320 Waiver of chapter requirements
If, in the opinion of the director, it is necessary for any of the requirements of this chapter to be waived in order to permit ...