30.04.560 - Reorganization as subsidiary of bank holding company -- Dissenter's rights -- Conditions.

Reorganization as subsidiary of bank holding company — Dissenter's rights — Conditions.

If the shareholders approve the reorganization by a two-thirds vote of each class of shares entitled to vote under the terms of such shares, and if it is thereafter approved by the director and consummated, any shareholder of the banking corporation who has voted shares against such reorganization at such meeting or has given notice in writing at or prior to such meeting to the banking corporation that he or she dissents from the plan of reorganization and has not voted in favor of the reorganization, shall be entitled to receive the value of the shares determined as provided in RCW 30.04.565. Such dissenter's rights must be exercised by making written demand which shall be delivered to the corporation at any time within thirty days after the date of shareholder approval, accompanied by the surrender of the appropriate stock certificates.

[1994 c 92 § 37; 1986 c 279 § 42; 1982 c 196 § 3.]

Notes: Severability -- 1982 c 196: See note following RCW 30.04.550.