32.32.115 - Conditions on shares of stock subject to restriction on sale. - Washington Statutes

Conditions on shares of stock subject to restriction on sale.

In connection with shares of capital stock subject to restriction on sale for a period of time:

     (1) Each certificate for the stock shall bear a legend giving appropriate notice of the restriction;

     (2) Appropriate instructions shall be issued to the transfer agent for the capital stock with respect to applicable restrictions on transfer of any such restricted stock; and

     (3) Any shares issued as a stock dividend, stock split, or otherwise with respect to any such restricted stock shall be subject to the same restrictions as may apply to the restricted stock.

[1985 c 56 § 18; 1981 c 85 § 22.]