RCW 33.24.350

Acquisition of control of association—Definitions.

Applied in 1 court decision — leading case 123 Wash. 2d 678 - Lynott v. National Union Fire Insurance (1994)

Most recently applied in 123 Wash. 2d 678 - Lynott v. National Union Fire Insurance (March 1994)

1982 c 3 s 53; 1973 c 130 s 1.

Unless the context requires otherwise, the definitions in this section apply throughout this chapter.

(1) "Subsidiary" of a person or other entity means any person or other entity which is controlled by such person or other entity.

(2) "Control" means directly or indirectly or acting in concert with one or more other persons or entities, or through one or more subsidiaries, owning, controlling, or holding with the power to vote twenty-five percent or more of the voting rights of an association.

(3) "Acquiring party" means the person or other entity acquiring control of a savings and loan association.

Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.