Washington § 31.24.210 - Mergers or consolidations — Application — Approval.

Full text of Washington Revised Code of Washington § 31.24.210 — Mergers or consolidations — Application — Approval., with citation guidance and answers to common questions.

§ 31.24.210. Mergers or consolidations — Application — Approval.

(1) Subject to written approval of the director, one or more general business development companies may merge into or consolidate with each other consistent with *chapter 30.49 RCW.
(2) Upon ninety days advance application to and written approval of the director, a historic business development company may convert its charter to that of a general business development company. An application for conversion shall contain a cover letter requesting conversion, the proposed articles of amendments and bylaws amendments, a modified business plan, and other relevant information in form and substance similar to the requirements of a de novo application for a general business development company as provided in RCW 31.24.020. In making a determination of whether to approve or deny such a conversion, the director shall consider:
(a) The historic performance and safety and soundness of the historic business development company;
(b) Whether the conversion to a general business development company will have a likelihood of continuing to fulfill the purposes of this chapter;
(c) Whether the applicant will have a likelihood of remaining safe and sound as a general business development company and pursuant to its proposed modified business plan; and
(d) Whether the proposed conversion would serve, or otherwise not detract from, the needs and convenience of the community served by the business development company.
[ 2006 c 87 s 23.]

Notes

*Reviser's note: Chapter 30.49 RCW was recodified as chapter 30A.49 RCW pursuant to 2014 c 37 s 4, effective January 5, 2015.

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

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Frequently Asked Questions About Washington § 31.24.210

What does Revised Code of Washington § 31.24.210 cover?

Section 31.24.210 ("Mergers or consolidations — Application — Approval.") 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 § 31.24.210?

A common citation format is "Revised Code of Washington § 31.24.210" (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 § 31.24.210 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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