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102 chapters · 2,150 sections in this title.
RCW 48.08.010 Increase of capital stock.
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(1) Increase of the capital stock of a domestic stock insurer shall be by amendment to its articles of incorporation. (2) If the increased capital stock is to be distributed as a stock dividend, such increased capital stock may be fully paid in out of any available surplus funds …
RCW 48.08.020 Reduction of capital stock.
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(1) Reduction of the capital stock of a domestic stock insurer shall be by amendment of its articles of incorporation. No such reduction shall be made which results in capital stock less in amount than the minimum required by this code for the kinds of insurance thereafter to be …
RCW 48.08.030 Dividends to stockholders.
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(1) No domestic stock insurer shall pay any cash dividend to stockholders except out of earned surplus. For the purpose of this section, "earned surplus" means that part of its available surplus funds which is derived from any realized net profits on its business, and does not in…
RCW 48.08.040 Illegal dividends, reductions—Penalty against directors.
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Any director of a domestic stock insurer who votes for or concurs in the declaration or payment of any dividend to stockholders or a reduction of capital stock not authorized by law shall, in addition to any other liability imposed by law, be guilty of a gross misdemeanor. [1947 …
