Statutes > Washington Statutes > Title 32 - Mutual savings banks > 32.32 - Conversion of mutual savings bank to capital stock savings bank. > 32.32.170 - Issuance of securities in lieu of capital stock permitted -- References to capital stock.

32.32.170 - Issuance of securities in lieu of capital stock permitted -- References to capital stock.

Issuance of securities in lieu of capital stock permitted — References to capital stock.

The converted savings bank may issue and sell, in lieu of shares of its capital stock, units of securities consisting of capital stock or other equity securities, in which event any reference in this chapter to capital stock shall apply to the units of equity securities unless the context otherwise requires.

[1981 c 85 § 33.]