Washington Code 19.105.350 – Director may require reserve fund by order — Actions against a registration
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(1) If the purchaser will own or acquire title to specified real property or improvements to be acquired by the camping resort, the director may by order require to the extent necessary to protect the interests of the purchasers or owners of camping resort contracts, that an appropriate portion of the proceeds paid under those camping resort contracts be placed in a separate reserve fund to be set aside and applied toward the purchase price of the real property, improvements, or facilities.
Terms Used In Washington Code 19.105.350
- Camping resort: means any enterprise, other than one that is tax exempt under section 501(c)(3) of the Internal Revenue Code of 1986, as amended, that has as its primary purpose the ownership, operation, or promotion of campgrounds that includes or will include camping sites. See Washington Code 19.105.300
- Director: means the director of licensing. See Washington Code 19.105.300
- Purchaser: means a person who enters into a camping resort contract and thereby obtains title to, an estate or interest in, or license or the right to use the campground of a camping resort. See Washington Code 19.105.300
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) The director may take any of the actions authorized in RCW 18.235.110 against a registration in which the registrant is advertising or offering annual or periodic dues or assessments by members that the director finds would result in the registrant’s future inability to fund operating costs.
NOTES:
Effective dates—2002 c 86: See note following RCW 18.08.340.