30.08.092 - Increase or decrease of capital stock authorized.

Increase or decrease of capital stock authorized.

A bank or trust company may increase or decrease its capital stock by amendment to its articles of incorporation. No issuance of capital stock shall be valid, until the amount thereof shall have been actually paid in. No reduction of the capital stock shall be made to an amount less than is required for capital by the director.

[1994 c 256 § 48; 1994 c 92 § 55; 1987 c 420 § 4.]

Notes: Reviser's note: This section was amended by 1994 c 92 § 55 and by 1994 c 256 § 48, each without reference to the other. Both amendments are incorporated in the publication of this section pursuant to RCW 1.12.025(2). For rule of construction, see RCW 1.12.025(1).

Findings -- Construction -- 1994 c 256: See RCW 43.320.007.