Washington Code 64.90.400 – Unit owners association — Organization
Current as of: 2023 | Check for updates
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(1) A unit owners association must be organized no later than the date the first unit in the common interest community is conveyed to a purchaser.
Terms Used In Washington Code 64.90.400
- 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) The membership of the association at all times consists exclusively of all unit owners or, following termination of the common interest community, of all former unit owners entitled to distributions of proceeds under RCW 64.90.290 or their heirs, successors, or assigns.
(3) The association must have a board and be organized as a for-profit or nonprofit corporation or limited liability company.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.