Washington Code 24.03A.380 – Repurchase of memberships
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A membership corporation that is not a charitable corporation may repurchase any of its memberships or any right arising therefrom only if it is so provided in the articles or bylaws. A membership corporation that is a charitable corporation may not repurchase any of its memberships or any right arising therefrom.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.
Terms Used In Washington Code 24.03A.380
- 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.