Washington Code 79A.25.100 – Conversion of marine recreation land to other uses — Approval — Substitution
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Marine recreation land with respect to which money has been expended under RCW 79A.25.080 shall not, without the approval of the board, be converted to uses other than those for which such expenditure was originally approved. The board shall only approve any such conversion upon conditions which will assure the substitution of other marine recreation land of at least equal fair market value at the time of conversion and of as nearly as feasible equivalent usefulness and location.
[ 2007 c 241 § 46; 2000 c 11 § 75; 1965 c 5 § 10 (Initiative Measure No. 215, approved November 3, 1964). Formerly RCW 43.99.100.]
NOTES:
Intent—Effective date—2007 c 241: See notes following RCW 79A.25.005.
Terms Used In Washington Code 79A.25.100
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.