RCW 30A.08.086
Determination of capital impairment when capital consists of preferred stock.
If any part of the capital of a bank consists of preferred stock, the determination of whether or not the capital of such bank is impaired and the amount of such impairment shall be based on the value of its stock as established at the time it was issued, or its par value, if any, even though the amount which the holders of such preferred stock shall be entitled to receive in the event of retirement or liquidation shall be in excess of the originally established value or the par value of such preferred stock.
[ 2014 c 37 § 161; 1986 c 279 § 25; 1981 c 89 § 6. Formerly RCW 30.08.086.]
NOTES:
Severability—1981 c 89: See note following RCW 30A.04.180.
Structure Revised Code of Washington
Title 30A - Washington Commercial Bank Act
Chapter 30A.08 - Organization and Powers.
30A.08.010 - Incorporators—Paid-in capital stock, surplus, and undivided profits—Requirements.
30A.08.020 - Notice of intention to organize—Proposed articles of incorporation—Contents.
30A.08.040 - Notice to file articles—Articles approved or refused—Hearing.
30A.08.050 - Approved articles to be filed and recorded—Organization complete.
30A.08.055 - Amending articles—Filing with director—Contents.
30A.08.060 - Certificate of authority—Issuance—Contents.
30A.08.070 - Failure to commence business—Effect—Extension of time.
30A.08.081 - Shares—Certificates not required.
30A.08.082 - Authority to issue preferred or special classes of stock.
30A.08.083 - Authority to divide classes into series—Rights and preferences—Filing of statement.
30A.08.086 - Determination of capital impairment when capital consists of preferred stock.
30A.08.087 - Authorized but unissued shares of capital stock—Issuance—Consideration.
30A.08.090 - Amendment of articles—Procedure.
30A.08.092 - Increase or decrease of capital stock authorized.
30A.08.140 - Corporate powers of banks.
30A.08.150 - Banks engaged in trust business.