RCW 30A.36.030
Stock at less than par—Impairment.
Where any bank or mutual savings bank has issued and has outstanding capital notes or debentures, it may carry its capital stock on its books at a sum less than par, and it shall not be considered impaired so long as the amount of such capital notes or debentures equals or exceeds the impairment as found by the director.
[ 2014 c 37 § 206; 1994 c 92 § 77; 1955 c 33 § 30.36.030. Prior: 1935 c 42 § 3; RRS § 3295-3. Formerly RCW 30.36.030.]
Structure Revised Code of Washington
Title 30A - Washington Commercial Bank Act
Chapter 30A.36 - Capital Notes or Debentures.
30A.36.020 - Issuance and sale—Status—Conversion rights.
30A.36.030 - Stock at less than par—Impairment.
30A.36.040 - Impairment to be corrected before retirement of notes or debentures.
30A.36.050 - Not subject to assessments—Liability of holders.