STATE STATUTES & CODES

WASHINGTON STATUTES AND CODES

32.32 - Conversion of mutual savings bank to capital stock savings bank.

• 32.32.010 - Chapter exclusive -- Prohibition on conversion without approval -- Waiver of requirements.
• 32.32.015 - Forms.
• 32.32.020 - Request of noncompliance -- Requirements.
• 32.32.025 - Definitions.
• 32.32.030 - Prohibition on approval of certain applications for conversion.
• 32.32.035 - Requirements of plan of conversion.
• 32.32.040 - Issuance of capital stock -- Price.
• 32.32.042 - Shares -- Certificate not required.
• 32.32.045 - Stock purchase subscription rights -- Eligible account holders.
• 32.32.050 - Stock purchase subscription rights received by officers, directors, and their associates -- Subordination.
• 32.32.055 - Supplemental share purchase subscription rights -- Supplemental eligible account holder -- Conditions.
• 32.32.060 - Sale of shares not sold in subscription offering -- Methods -- Conditions.
• 32.32.065 - Limitation on subscription and purchase of shares by person with associate or group -- Amount.
• 32.32.070 - Limitation on purchase of shares by officers, directors, and their associates -- Amount.
• 32.32.075 - Prohibition on purchase of shares by officers, directors, and their associates -- Exception.
• 32.32.080 - Uniform sales price of shares required -- Application to specify arrangements on sale of shares not sold in subscription offering.
• 32.32.085 - Savings account holder to receive withdrawable savings account(s) -- Amount.
• 32.32.090 - Liquidation account -- Establishment and maintenance required.
• 32.32.095 - Establishment of eligibility record date required.
• 32.32.100 - Capital stock -- Voting rights.
• 32.32.105 - Amendment and termination of plan of conversion.
• 32.32.110 - Restriction on sale of shares of stock by directors and officers.
• 32.32.115 - Conditions on shares of stock subject to restriction on sale.
• 32.32.120 - Registration of securities -- Marketing of securities -- Listing of shares on securities exchange or NASDAQ quotation system.
• 32.32.125 - Reasonable expenses required.
• 32.32.130 - Plan of conversion -- Prohibited provisions.
• 32.32.135 - Plan of conversion -- Permissible provisions.
• 32.32.140 - Purchase of certain shares of stock by directors, officers, and employees permitted -- Conditions.
• 32.32.145 - Receipt of certain subscription rights by account holders permitted -- Amount -- Conditions.
• 32.32.150 - Permissible sales of insignificant residue of shares.
• 32.32.155 - Limitation on number of shares subscribed in subscription offering permitted.
• 32.32.160 - Minimum purchase requirement in exercise of subscription rights permitted.
• 32.32.165 - Stock option plan permitted -- Reserved shares.
• 32.32.170 - Issuance of securities in lieu of capital stock permitted -- References to capital stock.
• 32.32.175 - Approval of other equitable provisions.
• 32.32.180 - Amount of qualifying deposit of eligible account holder or supplemental eligible account holder.
• 32.32.185 - Liquidation account -- Establishment required -- Amount -- Function.
• 32.32.190 - Liquidation account -- Maintenance required -- Subaccounts.
• 32.32.195 - Liquidation account -- Distribution upon complete liquidation.
• 32.32.200 - Liquidation account -- Determination of subaccount balances.
• 32.32.205 - Reduction of subaccount balance.
• 32.32.210 - Converted savings bank prohibited from repurchasing its stock without approval.
• 32.32.215 - Limitation on cash dividends.
• 32.32.220 - Limitation on certain cash dividends within ten years of conversion.
• 32.32.222 - Dividends on preferred stock.
• 32.32.225 - Prohibitions on offer, sale, or purchase of securities.
• 32.32.228 - Acquisition of control of a converted savings bank -- State reciprocity -- Definitions.
• 32.32.230 - Nonapproval of conversion unless acquisition of control within three years by certain companies prohibited.
• 32.32.235 - Plan of conversion -- Charter restrictions permitted.
• 32.32.240 - Confidentiality of consideration to convert -- Remedial measures for breach.
• 32.32.245 - Public statement authorized.
• 32.32.250 - Adoption of plan of conversion -- Notice to and inspection by account holders -- Statement and letter -- Press release authorized.
• 32.32.255 - Statement, letter, and press release -- Content permitted.
• 32.32.260 - Statement, letter, and press release -- Contents prohibited -- Inquiries.
• 32.32.265 - Notices of filing of application -- Requests for subscription offering circular.
• 32.32.270 - Filing of notice and affidavit of publication required.
• 32.32.275 - Applications available for public inspection -- Confidential information.
• 32.32.280 - Offers and sales of securities -- Prohibitions.
• 32.32.285 - Distribution of offering circulars authorized.
• 32.32.290 - Preliminary offering circular for subscription offering -- Estimated subscription price range required.
• 32.32.295 - Review of price information by director.
• 32.32.300 - Underwriting commissions.
• 32.32.305 - Consideration of pricing information by director -- Guidelines.
• 32.32.310 - Submission of information by applicant.
• 32.32.315 - Subscription offering -- Distribution of order forms for the purchase of shares.
• 32.32.320 - Order forms -- Final offering circular and detailed instructions.
• 32.32.325 - Subscription price.
• 32.32.330 - Order form -- Contents.
• 32.32.335 - Order form -- Additional provision authorized -- Payment by withdrawal.
• 32.32.340 - Time period for completion of sale of all shares of capital stock.
• 32.32.345 - Copies of application for approval to be filed.
• 32.32.350 - Nonacceptance and return of applications.
• 32.32.355 - Continuity of corporate existence.
• 32.32.360 - Form of application.
• 32.32.365 - Representations upon filing of application.
• 32.32.370 - Representations upon filing of application -- Exception.
• 32.32.375 - Application to furnish information.
• 32.32.380 - Application -- Additional information required.
• 32.32.385 - Omission of certain information permitted -- Conditions.
• 32.32.390 - Offering circular -- Certain manner of presentation of required information prohibited.
• 32.32.395 - Form and contents of filings.
• 32.32.400 - Conformance required to order prohibiting the use of any filing.
• 32.32.405 - Application -- Certain named persons -- Filing of written consent required.
• 32.32.410 - Offering circular -- Certain named persons -- Filing of written consent required.
• 32.32.415 - Date of receipt -- Date of filing.
• 32.32.420 - Availability for conferences in advance of filing of application -- Refusal of prefiling review.
• 32.32.425 - Appeal from refusal to approve application.
• 32.32.430 - Postconversion reports.
• 32.32.435 - Definitions.
• 32.32.440 - Certain agreement to transfer and transfers of ownership in rights or securities prohibited.
• 32.32.445 - Certain offers and announcements on securities prohibited.
• 32.32.450 - Certain offers and acquisitions prohibited.
• 32.32.455 - Nonapplicability of RCW 32.32.440 and 32.32.445.
• 32.32.460 - Nonapplicability of RCW 32.32.445 and 32.32.450.
• 32.32.465 - Nonapplicability of RCW 32.32.450.
• 32.32.470 - Approval of certain applications prohibited.
• 32.32.475 - Penalty for violations.
• 32.32.480 - Name of converted savings bank.
• 32.32.485 - Amendments to charter required in application -- Articles of incorporation -- Filing of certificate required -- Contents -- Issuance and filing of authorization certificate.
• 32.32.490 - Amendments to articles of incorporation.
• 32.32.495 - Directors -- Election -- Meetings -- Quorum -- Oath -- Vacancies.
• 32.32.497 - Conversions incident to acquisition by savings bank holding company or merger or consolidation with savings bank holding company subsidiary -- Application of RCW 32.32.110 and 32.32.115.
• 32.32.500 - Merger, consolidation, conversion, etc. -- Approval -- Concentration limits.
• 32.32.505 - Intent -- References in the Revised Code of Washington.
• 32.32.515 - Guaranty fund.
• 32.32.520 - "Funds" defined.
• 32.32.525 - Prohibition on certain securities and purchases -- Exception.
• 32.32.900 - Severability -- 1981 c 85.

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