Washington Code 24.03A.345 – Differences in rights and obligations
Current as of: 2023 | Check for updates
|
Other versions
(1) Except as provided in the articles or bylaws, each member of a membership corporation has the same rights and obligations as every other member with respect to voting, dissolution, membership transfer, and other matters.
Terms Used In Washington Code 24.03A.345
- 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.
(2) If the corporation has one or more classes of members, then the designation of the class or classes, the articles, or the bylaws shall set forth the manner of election or appointment and the qualifications and rights of the members of each class.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.