Washington § 30A.04.180 - Dividends.

Full text of Washington Revised Code of Washington § 30A.04.180 — Dividends., with citation guidance and answers to common questions.

§ 30A.04.180. Dividends.

No bank shall declare or pay any dividend to an amount greater than its retained earnings, without approval from the director. The director shall in his or her discretion have the power to require any bank to suspend the payment of any and all dividends until all requirements that may have been made by the director shall have been complied with; and upon such notice to suspend dividends no bank shall thereafter declare or pay any dividends until such notice has been rescinded in writing. A dividend is payable in cash, property, or capital stock, but the restrictions on the payment of a dividend (other than restrictions imposed by the director pursuant to his or her authority to require the suspension of the payment of any or all dividends) do not apply to a dividend payable by the bank solely in its own capital stock. For purposes of this section, "retained earnings" shall be determined by generally accepted accounting principles.
[ 2014 c 37 s 117. Prior: 1994 c 256 s 35; 1994 c 92 s 17; 1986 c 279 s 8; 1981 c 89 s 1; 1969 c 136 s 2; 1955 c 33 s 30.04.180; prior: 1933 c 42 s 7; 1931 c 11 s 1; 1917 c 80 s 33; RRS s 3240. Formerly RCW 30.04.180.]

Notes

Findings—Construction—1994 c 256: See RCW 43.320.007.
Severability—1981 c 89: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1981 c 89 s 8.]

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Frequently Asked Questions About Washington § 30A.04.180

What does Revised Code of Washington § 30A.04.180 cover?

Section 30A.04.180 ("Dividends.") 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.04.180?

A common citation format is "Revised Code of Washington § 30A.04.180" (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.04.180 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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