Revised Code of Washington

Wash. Rev. Code § 32.32.110 (2026)

Restriction on sale of shares of stock by directors and officers

✓ current as of May 2026

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All shares of capital stock purchased by directors and officers on original issue in the conversion either directly from the savings bank (by subscription or otherwise) or from an underwriter of the shares shall be subject to the restriction that the shares shall not be sold for a period of not less than three years following the date of purchase, except in the event of death of the director or officer.

[ 1981 c 85 s 21.]

Notes of Decisions

Cited in 2 cases, 2000–2000 · leading case: Manufactured Hous. Communities v. State, 13 P.3d 183 (Wash. 2000).

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Manufactured Hous. Communities v. State, 13 P.3d 183 (Wash. 2000). “400 (superphosphate containing less than 18 percent available phosphoric acid may not be sold in Washington); RCW 16.”

Manufactured Hous. Communities v. State, 13 P.3d 183 (Wash. 2000). “350 (horse carcasses may not be sold unless properly labeled); RCW 32.32.110 (capital stock of mutual savings bank owned by directors and officers may not be sold within three years of purchase); RCW 33.”

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