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Washington Revised Code Title 48. Insurance § 48.08.040. Illegal dividends, reductions--Penalty against directors

Current as of April 06, 2022 | Updated by FindLaw Staff

Any director of a domestic stock insurer who votes for or concurs in the declaration or payment of any dividend to stockholders or a reduction of capital stock not authorized by law shall, in addition to any other liability imposed by law, be guilty of a gross misdemeanor.

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Cite this article: FindLaw.com - Washington Revised Code Title 48. Insurance § 48.08.040. Illegal dividends, reductions--Penalty against directors - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-48-insurance/wa-rev-code-48-08-040/

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