Washington Code 32.32.170 – Issuance of securities in lieu of capital stock permitted — References to capital stock
Current as of: 2023 | Check for updates
|
Other versions
The converted savings bank may issue and sell, in lieu of shares of its capital stock, units of securities consisting of capital stock or other equity securities, in which event any reference in this chapter to capital stock shall apply to the units of equity securities unless the context otherwise requires.
[ 1981 c 85 § 33.]
Terms Used In Washington Code 32.32.170
- capital stock: includes permanent stock, guaranty stock, permanent reserve stock, any similar certificate evidencing nonwithdrawable capital, or preferred stock, of a savings bank converted under this chapter or of a subsidiary institution or holding company. See Washington Code 32.32.025
- sell: include every contract to sell or otherwise dispose of a security or interest in a security for value; but these terms do not include an exchange of securities in connection with a merger or acquisition approved by the director. See Washington Code 32.32.025