Washington § 33.48.280 - Paid-in or contributed surplus or surplus created by reduction of stock — Application and uses.

Full text of Washington Revised Code of Washington § 33.48.280 — Paid-in or contributed surplus or surplus created by reduction of stock — Application and uses., with citation guidance and answers to common questions.

§ 33.48.280. Paid-in or contributed surplus or surplus created by reduction of stock — Application and uses.

An association may, by action of its board of directors and with the prior approval of the director, apply any part or all of any paid-in or contributed surplus or any surplus created by reduction of stock to the reduction or writing off of any deficit arising from losses or diminution in value of its assets, or may transfer to or designate as a part of its federal insurance account or any other reserve account irrevocably established for the sole purpose of absorbing losses, any part or all of any paid-in or contributed surplus or any surplus created by reduction of stock.
[ 1994 c 92 s 492; 1982 c 3 s 110; 1973 c 130 s 18.]

Notes

Severability—1982 c 3: See note following RCW 33.04.002.
Severability—1973 c 130: See note following RCW 33.24.350.

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

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Frequently Asked Questions About Washington § 33.48.280

What does Revised Code of Washington § 33.48.280 cover?

Section 33.48.280 ("Paid-in or contributed surplus or surplus created by reduction of stock — Application and uses.") 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.

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