Washington Code 24.03A.160 – Reasonable compensation permitted
Current as of: 2023 | Check for updates
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Terms Used In Washington Code 24.03A.160
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A nonprofit corporation, including a charitable corporation, may pay reasonable compensation to members, directors, or officers for services rendered, or reimburse reasonable expenses incurred by members, directors, or officers in connection with services rendered.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.