Washington Code 32.32.330 – Order form — Contents
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Each order form distributed pursuant to RCW 32.32.315 shall be prepared so as to indicate to the person receiving it, in as simple, clear, and intelligible a manner as possible, the actions which are required or available to the person with respect to the form and the capital stock offered for purchase thereby. Specifically, each order form shall:
Terms Used In Washington Code 32.32.330
- applicant: is a mutual savings bank which has applied to convert pursuant to this chapter. See Washington Code 32.32.025
- 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
- eligible account holder: means any person holding a qualifying deposit as determined in accordance with RCW 32. See Washington Code 32.32.025
- person: means an individual, a corporation, a partnership, an association, a joint-stock company, a trust, any unincorporated organization, or a government or political subdivision thereof. See Washington Code 32.32.025
- savings account: means deposits established in a mutual savings bank and includes certificates of deposit. See Washington Code 32.32.025
- subscription offering: refers to the offering of shares of capital stock, through nontransferable subscription rights issued to: (a) Eligible account holders as required by RCW 32. See Washington Code 32.32.025
(1) Indicate the maximum number of shares that may be purchased pursuant to the subscription offering;
(2) Indicate the period of time within which the subscription rights must be exercised, which period of time shall not be less than twenty days following the date of the mailing of the order form;
(3) State the maximum subscription price per share of capital stock;
(4) Indicate any requirements as to the minimum number of shares of capital stock which may be purchased;
(5) Provide a specifically designated blank space or spaces for indicating the number of shares of capital stock which the eligible account holder or other person wishes to purchase;
(6) Indicate that payment may be made by cash if delivered in person or by check or by withdrawal from an account holder’s savings account. If payment is to be made by withdrawal, a box to check should be provided;
(7) Provide specifically designated blank spaces for dating and signing the order form;
(8) Contain an acknowledgment by the account holder or other person signing the order form that the person has received the final offering circular for the subscription offering prior to signing; and
(9) Indicate the consequences of failing to properly complete and return the order form, including a statement that the subscription rights are nontransferable and will become void at the end of the subscription period. The order form may, and the set of instructions shall, indicate the place or places to which the order forms are to be returned and when the applicant will consider order forms received, such as by date and time of actual receipt in the applicant’s offices or by date and time of postmark.
[ 1981 c 85 § 65.]