Washington Code 30A.12.220 – Preemptive rights of shareholders to acquire unissued shares — Articles of incorporation may limit or permit — Later acquisition
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The articles of incorporation of any bank organized under this title may limit or permit the preemptive rights of a shareholder to acquire unissued shares of the corporation and may thereafter by amendment limit, deny, or grant to shareholders of any class of stock the preemptive right to acquire additional shares of the corporation whether then or thereafter authorized.
[ 2014 c 37 § 187; 1979 c 106 § 8. Formerly RCW 30.12.220.]
Terms Used In Washington Code 30A.12.220
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.