RCW 30A.56.070
No dividends until reductions paid.
A bank for which such a plan has been put into effect shall not declare or pay a dividend or distribute any of its assets among stockholders until there shall have been set aside for and credited ratably to the creditors whose demands were reduced an amount equal to the aggregate of the reductions.
[ 1955 c 33 § 30.56.070. Prior: 1933 c 49 § 7; RRS 3293-7. Formerly RCW 30.56.070.]
Structure Revised Code of Washington
Title 30A - Washington Commercial Bank Act
Chapter 30A.56 - Bank Stabilization Act.
30A.56.010 - "Bank" and "directors" defined.
30A.56.020 - Postponement of payments on deposits—Order—Posting.
30A.56.030 - Business during postponement.
30A.56.040 - Deposits received during postponement.
30A.56.050 - Plan for reorganization—Conditions.
30A.56.060 - Approval of plan—Unsecured claims.
30A.56.070 - No dividends until reductions paid.
30A.56.080 - Failure to pay in excess of plan, effect.