Illegal dividends, reductions — Penalty against directors.

RCW 48.08.040
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
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. 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.
Source: WA Statutes (Official Site)URL: https://app.leg.wa.gov/RCW/default.aspx?cite=48.08&full=trueFetched: 6/29/2026

Starting a business in Washington? Washington LLC guide: costs and requirements