Wash. Rev. Code § 30A.56.070

Current through 2024

Section 30A.56.070 - No dividends until reductions paid

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.

RCW 30A.56.070

Recodified from 30.56.070 by 2014 c 37,§ 4, eff. 1/5/2015.

1955 c 33 § 30.56.070. Prior: 1933 c 49 § 7; RRS 3293-7.