RCW 48.08.040Illegal dividends, reductions—Penalty against directors.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.[1947 c 79 s .08.04; Rem. Supp. 1947 s 45.08.04.]
Washington Legal Code