Where any bank or mutual savings bank has issued and has outstanding capital notes or debentures, it may carry its capital stock on its books at a sum less than par, and it shall not be considered impaired so long as the amount of such capital notes or debentures equals or exceeds the impairment as found by the director.
RCW 30A.36.030
Stock at less than par—Impairment.
2014 c 37 s 206; 1994 c 92 s 77; 1955 c 33 s 30.36.030
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.