Reduction of stock — Conditions.

With the prior consent of the director, the stock of an association may be reduced by resolution of the board of directors approved by the vote or written consent of the holders of a majority in amount of the outstanding stock of the association to such amount as the director approves.

[1994 c 92 § 491; 1982 c 3 § 108; 1973 c 130 § 16.]

Notes: Severability -- 1982 c 3: See note following RCW 33.04.002.