Washington § 30A.08.010 - Incorporators — Paid-in capital stock, surplus, and undivided profits — Requirements.

Full text of Washington Revised Code of Washington § 30A.08.010 — Incorporators — Paid-in capital stock, surplus, and undivided profits — Requirements., with citation guidance and answers to common questions.

§ 30A.08.010. Incorporators — Paid-in capital stock, surplus, and undivided profits — Requirements.

When authorized by the director, as hereinafter provided, one or more natural persons, citizens of the United States, may incorporate a bank in the manner herein prescribed. No bank shall incorporate for less amount nor commence business unless it has a paid-in capital stock, surplus and undivided profits in the amount as may be determined by the director after consideration of the proposed location, management, and the population and economic characteristics for the area, the nature of the proposed activities and operation of the bank, and other factors deemed pertinent by the director. Each bank shall before commencing business have subscribed and paid into it in the same manner as is required for capital stock, an amount equal to at least ten percent of the capital stock above required, that shall be carried in the undivided profit account and may be used to defray organization and operating expenses of the company. Any sum not so used shall be transferred to the surplus fund of the company before any dividend shall be declared to the stockholders.
[ 2014 c 37 s 150. Prior: 1994 c 256 s 41; 1994 c 92 s 42; 1986 c 279 s 17; 1973 1st ex.s. c 104 s 3; 1969 c 136 s 3; 1955 c 33 s 30.08.010; prior: 1947 c 131 s 1; 1929 c 72 s 4; 1923 c 115 s 2; 1917 c 80 s 19; Rem. Supp. 1947 s 3226. Formerly RCW 30.08.010.]

Notes

Findings—Construction—1994 c 256: See RCW 43.320.007.

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

Related Washington Legal Topics

Frequently Asked Questions About Washington § 30A.08.010

What does Revised Code of Washington § 30A.08.010 cover?

Section 30A.08.010 ("Incorporators — Paid-in capital stock, surplus, and undivided profits — Requirements.") 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.08.010?

A common citation format is "Revised Code of Washington § 30A.08.010" (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.08.010 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.