Washington Code 30A.56.070 – No dividends until reductions paid
Current as of: 2023 | Check for updates
|
Other versions
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.]
Terms Used In Washington Code 30A.56.070
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.