Revised Code of Washington
Chapter 33.48 - Stock Associations.
33.48.270 - Reduction of stock—Disposition of surplus.

RCW 33.48.270
Reduction of stock—Disposition of surplus.

Any surplus resulting from reduction of stock shall not be available for dividends or other distribution to stockholders except upon liquidation.

[ 1982 c 3 § 109; 1973 c 130 § 17.]
NOTES:

Severability—1982 c 3: See note following RCW 33.04.002.


Severability—1973 c 130: See note following RCW 33.24.350.

Structure Revised Code of Washington

Revised Code of Washington

Title 33 - Washington Savings Association Act

Chapter 33.48 - Stock Associations.

33.48.025 - Applicability of chapter 23B.06 RCW.

33.48.030 - Minimum amount of permanent stock required—Preferred or special classes of shares authorized.

33.48.040 - Stock dividends, when.

33.48.080 - Member's proprietary interest—Subordinate to claims of creditors.

33.48.090 - Dividends only if interest paid on deposits.

33.48.100 - Conversion procedure—Domestic stock to domestic mutual association.

33.48.110 - Conversion procedure—Mutual association to domestic stock association—Rules implementing section—Standard.

33.48.120 - Conversion procedure—Creation of permanent loss reserve—Disposition of reserve upon liquidation.

33.48.130 - Withdrawal of charter amendment or conversion application.

33.48.140 - Legislative intent—Chapter to control over conflicting provisions.

33.48.150 - Organizing permit—Required.

33.48.160 - Organizing permit—Application.

33.48.170 - Organizing permit—Conditions.

33.48.180 - Permit authorizing sale of stock—Applicability.

33.48.190 - Permit authorizing sale of guaranty stock—Required prior to sale of issued or outstanding stock.

33.48.200 - Permit authorizing sale of stock—Application—Contents.

33.48.210 - Permit authorizing sale of stock—Examination and investigation—Issuance or denial.

33.48.220 - Recitation in permit to take subscriptions for stock.

33.48.230 - Sales of stock—Imposition of conditions.

33.48.240 - Organizing permit—Amendment, alteration, suspension, or revocation by director—Grounds.

33.48.250 - Purchase by association of stock issued by it—Conditions.

33.48.260 - Reduction of stock—Conditions.

33.48.270 - Reduction of stock—Disposition of surplus.

33.48.280 - Paid-in or contributed surplus or surplus created by reduction of stock—Application and uses.

33.48.290 - RCW 33.48.150 through 33.48.280 inapplicable to foreign associations.

33.48.320 - Waiver of chapter requirements.