Washington Code 32.32.115 – Conditions on shares of stock subject to restriction on sale
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In connection with shares of capital stock subject to restriction on sale for a period of time:
Terms Used In Washington Code 32.32.115
- capital stock: includes permanent stock, guaranty stock, permanent reserve stock, any similar certificate evidencing nonwithdrawable capital, or preferred stock, of a savings bank converted under this chapter or of a subsidiary institution or holding company. See Washington Code 32.32.025
(1) Each certificate for the stock shall bear a legend giving appropriate notice of the restriction;
(2) Appropriate instructions shall be issued to the transfer agent for the capital stock with respect to applicable restrictions on transfer of any such restricted stock; and
(3) Any shares issued as a stock dividend, stock split, or otherwise with respect to any such restricted stock shall be subject to the same restrictions as may apply to the restricted stock.