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Revised Code of Washington (RCW) (Last Updated: August 9, 2016) |
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Title 32. WASHINGTON SAVINGS BANK ACT |
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Chapter 32.32. Conversion of mutual savings bank to capital stock savings bank. |
Section 32.32.120. Registration of securities—Marketing of securities—Listing of shares on securities exchange or NASDAQ quotation system.
Latest version.
- A converted savings bank or holding company formed under chapter 32.34 RCW shall:(1) Promptly following its conversion register the securities issued in connection therewith pursuant to the Securities and Exchange Act of 1934 and undertake not to deregister the securities for a period of three years thereafter;(2) Use its best efforts to encourage and assist a market maker to establish and maintain a market for the securities issued in connection with the conversion; and(3) Use its best efforts to list those shares issued in connection with the conversion on a national or regional securities exchange or on the NASDAQ quotation system.