Washington § 30A.04.238 - Purchase of own capital stock authorized.

Full text of Washington Revised Code of Washington § 30A.04.238 — Purchase of own capital stock authorized., with citation guidance and answers to common questions.

§ 30A.04.238. Purchase of own capital stock authorized.

(1) Notwithstanding any other provision of this title, a bank, with the prior approval of the director, may purchase shares of its own capital stock.
(2) When a bank purchases such shares, its capital accounts shall be reduced appropriately. The shares shall be held as authorized but unissued shares.
[ 1994 c 92 s 24; 1986 c 279 s 12; 1985 c 305 s 1. Formerly RCW 30.04.238.]

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

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Frequently Asked Questions About Washington § 30A.04.238

What does Revised Code of Washington § 30A.04.238 cover?

Section 30A.04.238 ("Purchase of own capital stock authorized.") 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.04.238?

A common citation format is "Revised Code of Washington § 30A.04.238" (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.04.238 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

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.