RCW 31.20.100
Surplus reserve required.
A development credit corporation shall set apart a surplus of not less than ten percent of its net earnings in each and every year until such surplus, with any unimpaired surplus paid in, shall amount to one-half of the capital stock. The said surplus shall be kept to secure against losses and contingencies, and whenever the same becomes impaired it shall be reimbursed in the manner provided for its accumulation.
[ 1959 c 213 § 10.]
Structure Revised Code of Washington
Title 31 - Miscellaneous Loan Agencies
Chapter 31.20 - Development Credit Corporations.
31.20.010 - Creation under general corporation laws authorized.
31.20.020 - Purposes specified.
31.20.040 - Minimum capital stock.
31.20.050 - Board of directors.
31.20.060 - Members power to loan funds to corporation.
31.20.070 - Members of corporation enumerated.
31.20.080 - Members duty to loan funds to corporation—Maximum limits—Proration of calls.
31.20.090 - Withdrawal from membership.
31.20.100 - Surplus reserve required.
31.20.110 - Funds to be deposited in designated depository.
31.20.120 - Money deposits prohibited.
31.20.130 - Publication of annual statement of assets and liabilities.