RCW 32.32.265
Notices of filing of application—Requests for subscription offering circular.
Upon determination that an application for conversion is properly executed and is not materially incomplete, the director shall advise the applicant, in writing, to publish notices of the filing of the application. Promptly after receipt of the advice, the applicant shall furnish a written notice of the filing to each eligible account holder and also publish a notice of the filing in a newspaper printed in the English language and having general circulation in each community in which an office of the applicant is located, as follows:
NOTICE OF FILING OF AN APPLICATION
FOR APPROVAL TO CONVERT TO A
STOCK SAVINGS BANK
Notice is hereby given that, pursuant to chapter 32.32 of the Revised Code of Washington
. . . .
(fill in name of applicant)
has filed an application with the Director of Financial Institutions for approval to convert to the stock form of organization. Copies of the application have been delivered to (address) .
Written comments, including objections to the plan of conversion and materials supporting the objections, from any account holder of the applicant or aggrieved person, will be considered by the director if filed within twenty business days after the date of this notice. Failure to make written comments in objection may preclude the pursuit of any administrative or judicial remedies. Three copies of the comments should be sent to the aforementioned. The proposed plan of conversion and any comments thereon will be available for inspection by any account holder of the applicant at (address) . A copy of the plan may also be inspected at each office of the applicant.
If a significant number of the applicant's account holders speak a language other than English and a newspaper in that language is published in the area served by the applicant, an appropriate translation of the notice shall also be published in that newspaper. A notice sent by mail may be accompanied by the statement that the converting institution will not mail a subscription offering circular to an eligible account holder or a supplemental eligible account holder unless the eligible account holder or the supplemental eligible account holder, prior to the commencement of the subscription offering, requests the subscription offering circular by returning a postcard. The issuer of stock in the conversion shall pay the postage of this postcard and shall inform the eligible account holder or supplemental eligible holder that the postage is paid.
[ 1994 c 92 § 372; 1985 c 56 § 27; 1981 c 85 § 52.]
Structure Revised Code of Washington
Title 32 - Washington Savings Bank Act
Chapter 32.32 - Conversion of Mutual Savings Bank to Capital Stock Savings Bank.
32.32.010 - Chapter exclusive—Prohibition on conversion without approval—Waiver of requirements.
32.32.020 - Request of noncompliance—Requirements.
32.32.030 - Prohibition on approval of certain applications for conversion.
32.32.035 - Requirements of plan of conversion.
32.32.040 - Issuance of capital stock—Price.
32.32.042 - Shares—Certificate not required.
32.32.045 - Stock purchase subscription rights—Eligible account holders.
32.32.060 - Sale of shares not sold in subscription offering—Methods—Conditions.
32.32.070 - Limitation on purchase of shares by officers, directors, and their associates—Amount.
32.32.085 - Savings account holder to receive withdrawable savings account(s)—Amount.
32.32.090 - Liquidation account—Establishment and maintenance required.
32.32.095 - Establishment of eligibility record date required.
32.32.100 - Capital stock—Voting rights.
32.32.105 - Amendment and termination of plan of conversion.
32.32.110 - Restriction on sale of shares of stock by directors and officers.
32.32.115 - Conditions on shares of stock subject to restriction on sale.
32.32.125 - Reasonable expenses required.
32.32.130 - Plan of conversion—Prohibited provisions.
32.32.135 - Plan of conversion—Permissible provisions.
32.32.145 - Receipt of certain subscription rights by account holders permitted—Amount—Conditions.
32.32.150 - Permissible sales of insignificant residue of shares.
32.32.155 - Limitation on number of shares subscribed in subscription offering permitted.
32.32.160 - Minimum purchase requirement in exercise of subscription rights permitted.
32.32.165 - Stock option plan permitted—Reserved shares.
32.32.170 - Issuance of securities in lieu of capital stock permitted—References to capital stock.
32.32.175 - Approval of other equitable provisions.
32.32.185 - Liquidation account—Establishment required—Amount—Function.
32.32.190 - Liquidation account—Maintenance required—Subaccounts.
32.32.195 - Liquidation account—Distribution upon complete liquidation.
32.32.200 - Liquidation account—Determination of subaccount balances.
32.32.205 - Reduction of subaccount balance.
32.32.210 - Converted savings bank prohibited from repurchasing its stock without approval.
32.32.215 - Limitation on cash dividends.
32.32.220 - Limitation on certain cash dividends within ten years of conversion.
32.32.222 - Dividends on preferred stock.
32.32.225 - Prohibitions on offer, sale, or purchase of securities.
32.32.228 - Acquisition of control of a converted savings bank—State reciprocity—Definitions.
32.32.235 - Plan of conversion—Charter restrictions permitted.
32.32.240 - Confidentiality of consideration to convert—Remedial measures for breach.
32.32.245 - Public statement authorized.
32.32.255 - Statement, letter, and press release—Content permitted.
32.32.260 - Statement, letter, and press release—Contents prohibited—Inquiries.
32.32.265 - Notices of filing of application—Requests for subscription offering circular.
32.32.270 - Filing of notice and affidavit of publication required.
32.32.275 - Applications available for public inspection—Confidential information.
32.32.280 - Offers and sales of securities—Prohibitions.
32.32.285 - Distribution of offering circulars authorized.
32.32.295 - Review of price information by director.
32.32.300 - Underwriting commissions.
32.32.305 - Consideration of pricing information by director—Guidelines.
32.32.310 - Submission of information by applicant.
32.32.315 - Subscription offering—Distribution of order forms for the purchase of shares.
32.32.320 - Order forms—Final offering circular and detailed instructions.
32.32.325 - Subscription price.
32.32.330 - Order form—Contents.
32.32.335 - Order form—Additional provision authorized—Payment by withdrawal.
32.32.340 - Time period for completion of sale of all shares of capital stock.
32.32.345 - Copies of application for approval to be filed.
32.32.350 - Nonacceptance and return of applications.
32.32.355 - Continuity of corporate existence.
32.32.360 - Form of application.
32.32.365 - Representations upon filing of application.
32.32.370 - Representations upon filing of application—Exception.
32.32.375 - Application to furnish information.
32.32.380 - Application—Additional information required.
32.32.385 - Omission of certain information permitted—Conditions.
32.32.390 - Offering circular—Certain manner of presentation of required information prohibited.
32.32.395 - Form and contents of filings.
32.32.400 - Conformance required to order prohibiting the use of any filing.
32.32.405 - Application—Certain named persons—Filing of written consent required.
32.32.410 - Offering circular—Certain named persons—Filing of written consent required.
32.32.415 - Date of receipt—Date of filing.
32.32.425 - Appeal from refusal to approve application.
32.32.430 - Postconversion reports.
32.32.445 - Certain offers and announcements on securities prohibited.
32.32.450 - Certain offers and acquisitions prohibited.
32.32.455 - Nonapplicability of RCW 32.32.440 and 32.32.445.
32.32.460 - Nonapplicability of RCW 32.32.445 and 32.32.450.
32.32.465 - Nonapplicability of RCW 32.32.450.
32.32.470 - Approval of certain applications prohibited.
32.32.475 - Penalty for violations.
32.32.480 - Name of converted savings bank.
32.32.490 - Amendments to articles of incorporation.
32.32.495 - Directors—Election—Meetings—Quorum—Oath—Vacancies.
32.32.500 - Merger, consolidation, conversion, etc.—Approval—Concentration limits.
32.32.505 - Intent—References in the Revised Code of Washington.
32.32.525 - Prohibition on certain securities and purchases—Exception.