Wash. Rev. Code » Title 23B · Chapter 23B.06
Revised Code of Washington

Wash. Rev. Code § 23B.06.310 (2026)

Corporation's acquisition of its own shares

✓ current as of May 2026
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(1) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.
(2) If the articles of incorporation prohibit the reissue of acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective upon amendment of the articles of incorporation.
(3) The board of directors may adopt articles of amendment under this section without shareholder approval and deliver them to the secretary of state for filing. The articles must set forth:
(a) The name of the corporation;
(b) The reduction in the number of authorized shares, itemized by class and series; and
(c) The total number of authorized shares, itemized by class and series, remaining after reduction of the shares.
[ 2009 c 189 s 11; 1989 c 165 s 58.]
Notes of Decisions
Cited in 1 case, 2006–2006 · leading case: Metro. Mortg. & Sec. Co. v. Quinn (In re Metro. Mortg. & Sec. Co.), 347 B.R. 406 (Bankr. E.D. Wash. 2006).
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Metro. Mortg. & Sec. Co. v. Quinn (In re Metro. Mortg. & Sec. Co.), 347 B.R. 406 (Bankr. E.D. Wash. 2006). · cites it 3× “400 or related provisions of RCW 23B, which would include RCW 23B.06.310, rendering it unlawful for directors to make distributions when the corporation is insolvent or would be rendered insolvent by such distributions.”
— Wash. Rev. Code § 23B.06.310(2) — 1 case
Metro. Mortg. & Sec. Co. v. Quinn (In re Metro. Mortg. & Sec. Co.), 347 B.R. 406 (Bankr. E.D. Wash. 2006). “400 or related provisions of RCW 23B, which would include RCW 23B.06.310, rendering it unlawful for directors to make distributions when the corporation is insolvent or would be rendered insolvent by such distributions.”
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