Washington § 30A.12.205 - Stock purchase options — Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans.

Full text of Washington Revised Code of Washington § 30A.12.205 — Stock purchase options — Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans., with citation guidance and answers to common questions.

§ 30A.12.205. Stock purchase options — Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans.

Subject to any restrictions in its articles of incorporation and in accordance with and subject to the provisions of RCW 30A.08.088, the board of directors of a bank may grant options entitling the holders thereof to purchase from the corporation shares of any class of its stock. The instrument evidencing the option shall state the terms upon which, the time within which, and the price at which such shares may be purchased from the corporation upon the exercise of such option. If any such options are granted by contract, or are to be granted pursuant to a plan, to officers or employees of the bank, then the contract or the plan shall require the approval, within twelve months of its approval by the board of directors, of the holders of a majority of its voting capital stock. Subsequent amendments to any such contract or plan which do not change the price or duration of any option, the maximum number of shares which may be subject to options, or the class of employees eligible for options may be made by the board of directors without further shareholder approval.
Subject to any restrictions in its articles of incorporation, the board of directors of a bank shall have the authority to enter into any plans or contracts providing for compensation for its officers and employees, including, but not being limited to, incentive bonus contracts, stock purchase or bonus plans and profit sharing plans.
[ 2014 c 37 s 186; 1986 c 279 s 37. Formerly RCW 30.12.205.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 30A.12.205

What does Revised Code of Washington § 30A.12.205 cover?

Section 30A.12.205 ("Stock purchase options — Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 30A.12.205?

A common citation format is "Revised Code of Washington § 30A.12.205" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 30A.12.205 apply to my situation?

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