Washington § 30A.56.070 - No dividends until reductions paid.

Full text of Washington Revised Code of Washington § 30A.56.070 — No dividends until reductions paid., with citation guidance and answers to common questions.

§ 30A.56.070. No dividends until reductions paid.

A bank for which such a plan has been put into effect shall not declare or pay a dividend or distribute any of its assets among stockholders until there shall have been set aside for and credited ratably to the creditors whose demands were reduced an amount equal to the aggregate of the reductions.
[ 1955 c 33 s 30.56.070. Prior: 1933 c 49 s 7; RRS 3293-7. Formerly RCW 30.56.070.]

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

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Frequently Asked Questions About Washington § 30A.56.070

What does Revised Code of Washington § 30A.56.070 cover?

Section 30A.56.070 ("No dividends until reductions paid.") 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.56.070?

A common citation format is "Revised Code of Washington § 30A.56.070" (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.56.070 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

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