30.04.400 - Bank acquisition or control -- Definitions.

Bank acquisition or control — Definitions.

As used in RCW 30.04.400 through 30.04.410, the following words shall have the following meanings:

     (1) "Control" means directly or indirectly alone or in concert with others to own, control, or hold the power to vote twenty-five percent or more of the outstanding stock or voting power of the "controlled" entity;

     (2) "Acquiring party" means the person acquiring control of a bank through the purchase of stock; and

     (3) "Person" means any individual, corporation, partnership, association, business trust, or other organization.

[1977 ex.s. c 246 § 1.]