Washington § 48.08.010 Increase of capital stock.

Washington Statutes

§ 48.08.010 — Increase of capital stock.

Washington § 48.08.010

Title 48INSURANCE

Ch. 48.08DOMESTIC STOCK INSURERS

This text of Washington § 48.08.010 (Increase of capital stock.) 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 § 48.08.010 (2026).

Text

(1)Increase of the capital stock of a domestic stock insurer shall be by amendment to its articles of incorporation.

(2)If the increased capital stock is to be distributed as a stock dividend, such increased capital stock may be fully paid in out of any available surplus funds as is provided in RCW 48.08.030 , and such payment shall be effected by a transfer on the insurer's books from its surplus account to its capital account.

(3)When the increased capital has been fully paid in, a certificate to such effect shall be made in quadruplicate under oath and the corporate seal by the insurer's president and secretary and filed in the public offices named in RCW 48.07.070 .

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(1) Increase of the capital stock of a domestic stock insurer shall be by amendment to its articles of incorporation.

(2) If the increased capital stock is to be distributed as a stock dividend, such increased capital stock may be fully paid in out of any available surplus funds as is provided in RCW 48.08.030 , and such payment shall be effected by a transfer on the insurer's books from its surplus account to its capital account.

(3) When the increased capital has been fully paid in, a certificate to such effect shall be made in quadruplicate under oath and the corporate seal by the insurer's president and secretary and filed in the public offices named in RCW 48.07.070 .