Washington Code 24.03A.325 – Admission of members
Current as of: 2023 | Check for updates
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(1) The articles or bylaws of a membership corporation may establish criteria or procedures for admission of members.
Terms Used In Washington Code 24.03A.325
- 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.
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
(2) A person may not be admitted as a member without the person’s consent. Consent may be express or implied and need not be in the form of a record.
(3) If a membership corporation provides certificates of membership to the members, then the certificates shall not be registered or transferable except as provided in the articles or bylaws or by resolution of the board.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.