RCW 30A.04.238: Purchase of own capital stock authorized.

RCWs > Title 30A > Chapter 30A.04 > Section 30A.04.238

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30A.04.232 << 30A.04.238 >> 30A.04.240

PDFRCW 30A.04.238

Purchase of own capital stock authorized.

(1) Notwithstanding any other provision of this title, a bank, with the prior approval of the director, may purchase shares of its own capital stock.

(2) When a bank purchases such shares, its capital accounts shall be reduced appropriately. The shares shall be held as authorized but unissued shares.

[ 1994 c 92 § 24; 1986 c 279 § 12; 1985 c 305 § 1. Formerly RCW 30.04.238.]