Statutes, codes, and regulations
Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)
Chapter 208-528 - New state banks and trust companies - Application and investigation
Section 208-528-070 - Payment on subscription for the capital stock

Wash. Admin. Code § 208-528-070

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Current through Register Vol. 24-23, December 1, 2024
Section 208-528-070 - Payment on subscription for the capital stock

The subscription agreement with prospective purchasers of the capital stock of a proposed new bank or trust company shall not contain any agreement for any amount to be paid in advance for the purpose of defraying organization costs. No payment on subscription for stock shall be made until the articles of incorporation have been approved by the director of the department of financial institutions and filed with the secretary of state.

Wash. Admin. Code § 208-528-070

Statutory Authority: RCW 30.04.030 and 43.320.040. 00-17-141, amended and recodified as § 208-528-070, filed 8/22/00, effective 9/22/00; Order 30, § 50-28-070, filed 10/2/75.