Statutes > Washington Statutes > Title 32 - Mutual savings banks > 32.32 - Conversion of mutual savings bank to capital stock savings bank. > 32.32.165 - Stock option plan permitted -- Reserved shares.

32.32.165 - Stock option plan permitted -- Reserved shares.

Stock option plan permitted — Reserved shares.

A stock option plan may be adopted by the board of directors at the meeting at which the plan of conversion is voted upon. The number of shares reserved for the stock option plans should be limited to ten percent of the number of shares sold in the conversion.

[1981 c 85 § 32.]