{"data":{"id":"us-wa/rcw-31.24.210","jurisdiction":"us-wa","citation":"RCW 31.24.210","heading":"Mergers or consolidations—Application—Approval.","body":"(1) Subject to written approval of the director, one or more general business development companies may merge into or consolidate with each other consistent with *chapter 30.49 RCW.\n(2) Upon ninety days advance application to and written approval of the director, a historic business development company may convert its charter to that of a general business development company. An application for conversion shall contain a cover letter requesting conversion, the proposed articles of amendments and bylaws amendments, a modified business plan, and other relevant information in form and substance similar to the requirements of a de novo application for a general business development company as provided in RCW 31.24.020. In making a determination of whether to approve or deny such a conversion, the director shall consider:\n(a) The historic performance and safety and soundness of the historic business development company;\n(b) Whether the conversion to a general business development company will have a likelihood of continuing to fulfill the purposes of this chapter;\n(c) Whether the applicant will have a likelihood of remaining safe and sound as a general business development company and pursuant to its proposed modified business plan; and\n(d) Whether the proposed conversion would serve, or otherwise not detract from, the needs and convenience of the community served by the business development company.","path":["Title 31","Chapter 31.24"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=31.24.210","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T02:03:50Z","sha256":"bf9b296d9c2a33d8dbfddd62a335dda7e99aa1a98ac89b844031f5c3df4a01f9","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-31.24.205","next":"us-wa/rcw-31.24.215"},"notice":"GroundRules: Original legal text. Not legal advice."}