Statutes > Washington Statutes > Title 32 - Mutual savings banks > 32.32 - Conversion of mutual savings bank to capital stock savings bank. > 32.32.325 - Subscription price.

32.32.325 - Subscription price.

Subscription price.

The maximum subscription price stated on each order form distributed pursuant to RCW 32.32.315 shall be the amount to be paid when the order form is returned. The maximum subscription price and the actual subscription price shall be within the subscription price range stated in the director's approval and the offering circular. If either the maximum subscription price or the actual subscription price is not within this subscription price range, the applicant shall obtain an amendment to the director's approval. If appropriate, the director shall condition the giving of amended approval by requiring a resolicitation of order forms. If the actual public offering price is less than the maximum subscription price stated on the order form, the actual subscription price shall be correspondingly reduced and the difference shall be refunded to those who have paid the maximum subscription price.

[1994 c 92 § 382; 1981 c 85 § 64.]