Title 33, WASHINGTON SAVINGS ASSOCIATION ACT

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 …

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 …

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…

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…

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 …

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 33.48.150 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…

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…