32.32.505 – Intent—References in the Revised Code of Washington.
RCW 32.32.505 Intent—References in the Revised Code of Washington. (1) It is the intention of the legislature to grant, by this chapter, authority to permit conversions by mutual savings banks to capital stock form, and the rights, powers, restrictions, limitations, and requirements of Title 32 RCW shall apply to a converted mutual savings bank except […]
32.32.515 – Guaranty fund.
RCW 32.32.515 Guaranty fund. The guaranty fund of a mutual savings bank converted under this chapter shall become surplus of the converted savings bank, but shall not be available after conversion for purposes other than those purposes for which a guaranty fund may be used by a mutual savings bank under Title 32 RCW. No […]
32.32.520 – “Funds” defined.
RCW 32.32.520 “Funds” defined. The “funds” of a converted savings bank, as the term is used in Title 32 RCW, shall mean deposits, sums credited to the liquidation account, capital stock, the principal balance of any outstanding capital notes, capital debentures, borrowings, undivided profits and income derived from the foregoing or the proceeds of the […]
32.32.525 – Prohibition on certain securities and purchases—Exception.
RCW 32.32.525 Prohibition on certain securities and purchases—Exception. After July 26, 1981, no converted savings bank may make any loan or discount on the security of its own capital stock, nor be the purchaser or holder of any such shares, unless the security or purchase is necessary to prevent loss upon a debt previously contracted […]
32.32.485 – Amendments to charter required in application—Articles of incorporation—Filing of certificate required—Contents—Issuance and filing of authorization certificate.
RCW 32.32.485 Amendments to charter required in application—Articles of incorporation—Filing of certificate required—Contents—Issuance and filing of authorization certificate. (1) An application for conversion under this chapter shall include amendments to the charter of the converting savings bank. The charter of the converted savings bank, as amended, shall be known after the conversion as the articles […]
32.32.490 – Amendments to articles of incorporation.
RCW 32.32.490 Amendments to articles of incorporation. (1) Amendments to the articles of incorporation of the converted savings bank shall be made only with the approvals of the director, of two-thirds of the directors of the savings bank, and of the holders of a majority of each class of the outstanding shares of capital stock […]
32.32.495 – Directors—Election—Meetings—Quorum—Oath—Vacancies.
RCW 32.32.495 Directors—Election—Meetings—Quorum—Oath—Vacancies. (1) Every converted savings bank shall be managed by not less than five directors, except that a bank having a capital of fifty thousand dollars or less may have only three directors. Directors shall be elected by the stockholders and hold office for one year and until their successors are elected and […]
32.32.497 – Conversions incident to acquisition by savings bank holding company or merger or consolidation with savings bank holding company subsidiary—Application of RCW 32.32.110 and 32.32.115.
RCW 32.32.497 Conversions incident to acquisition by savings bank holding company or merger or consolidation with savings bank holding company subsidiary—Application of RCW 32.32.110 and 32.32.115. (1) In a conversion of an unconverted mutual savings bank that is in the process of acquisition by a savings bank holding company or in the process of merger […]
32.32.500 – Merger, consolidation, conversion, etc.—Approval—Concentration limits.
RCW 32.32.500 Merger, consolidation, conversion, etc.—Approval—Concentration limits. (1) A savings bank may merge with, consolidate with, convert into, acquire a branch or branches of, or sell its branch or branches to any depository institution as defined in 12 U.S.C. Sec. 461, any financial institution chartered or authorized to do business under the laws of any […]
32.32.435 – Definitions.
RCW 32.32.435 Definitions. For purposes of RCW 32.32.440 through 32.32.475, the following definitions shall apply: (1) The term “offer” includes every offer to buy or acquire, solicitation of an offer to sell, tender offer for, or request or invitation for tenders of, a security or interest in a security for value. (2) The term “person” […]