Washington § 32.32.110 Restriction on sale of shares of stock by directors and officers.

Washington Statutes

§ 32.32.110 — Restriction on sale of shares of stock by directors and officers.

Washington § 32.32.110

Title 32WASHINGTON SAVINGS BANK ACT

Ch. 32.32CONVERSION OF MUTUAL SAVINGS BANK TO CAPITAL STOCK SAVINGS BANK

This text of Washington § 32.32.110 (Restriction on sale of shares of stock by directors and officers.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 32.32.110 (2026).

Text

All shares of capital stock purchased by directors and officers on original issue in the conversion either directly from the savings bank (by subscription or otherwise) or from an underwriter of the shares shall be subject to the restriction that the shares shall not be sold for a period of not less than three years following the date of purchase, except in the event of death of the director or officer.

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All shares of capital stock purchased by directors and officers on original issue in the conversion either directly from the savings bank (by subscription or otherwise) or from an underwriter of the shares shall be subject to the restriction that the shares shall not be sold for a period of not less than three years following the date of purchase, except in the event of death of the director or officer.