Title 33 — Title 33 WASHINGTON SAVINGS ASSOCIATION ACT
15 chapters · 162 sections in this title.
RCW 33.48.190 Permit authorizing sale of guaranty stock—Required prior to sale of issued or outstanding stock.
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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 for such sales until the association or the selling stockholders have applied for and secured from the director a permit authorizing th…
RCW 33.48.200 Permit authorizing sale of stock—Application—Contents.
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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.The application shall include the following:(1) Regarding the association:(a) The names and addresses of its officers;(b) The location of its office;(…
RCW 33.48.210 Permit authorizing sale of stock—Examination and investigation—Issuance or denial.
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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 and he or she may make a detailed examination, audit, and investigation of the association and its affairs. If the director fin…
RCW 33.48.220 Recitation in permit to take subscriptions for stock.
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Every permit to take subscriptions for stock shall recite in boldface type that the issuance thereof is permissive only and does not constitute a recommendation or endorsement of the stock permitted to be issued.[ 1982 c 3 s 104; 1973 c 130 s 12.]Notes:Severability—1982 c 3: See …
RCW 33.48.230 Sales of stock—Imposition of conditions.
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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, limiting the expense in connection with the sale of such stock, and other conditions as he or she deems reasonable and necessary …
RCW 33.48.240 Organizing permit—Amendment, alteration, suspension, or revocation by director—Grounds.
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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 the permit or if the director determines that the subscription or proposed issue and sale is no longer fair, just, and equitable.[ 1994 c…
RCW 33.48.250 Purchase by association of stock issued by it—Conditions.
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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 on its stock if: The stock so purchased is included for federal estate tax purposes in determining the gross estate of a decedent, a…
RCW 33.48.260 Reduction of stock—Conditions.
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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 vote or written consent of the holders of a majority in amount of the outstanding stock of the association to such amount as the director app…
RCW 33.48.270 Reduction of stock—Disposition of surplus.
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Any surplus resulting from reduction of stock shall not be available for dividends or other distribution to stockholders except upon liquidation.[ 1982 c 3 s 109; 1973 c 130 s 17.]Notes:Severability—1982 c 3: See note following RCW 33.04.002.Severability—1973 c 130: See note foll…
RCW 33.48.280 Paid-in or contributed surplus or surplus created by reduction of stock—Application and uses.
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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 paid-in or contributed surplus or any surplus created by reduction of stock to the reduction or writing off of any deficit arising from losses or dimi…
RCW 33.48.290 RCW 33.48.150 through 33.48.280 inapplicable to foreign associations.
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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 s 111; 1973 c 130 s 19.]Notes:Severability—1982 c 3: See note following RCW 33.04.002.Severability—1973 c 130: See note fol…
RCW 33.48.320 Waiver of chapter requirements.
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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 an association which is in danger of failing to convert its charter from a mutual association to a stock association or from a stock association to a mu…