RCW 23.100.1203
167 words·~1 min read·
/wa/title-23/chapter-23-100/23-100-1203·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For a limited cooperative association to dispose of assets under RCW 23.100.1202 :
(1)A majority of the board of directors, or a greater percentage if required by the organic rules, must approve the proposed disposition; and
(2)The board of directors must call a members meeting to consider the proposed disposition and, subject to RCW 23.100.0419 , mail or otherwise transmit or deliver in a record to each member:
(a)The terms of the proposed disposition;
(b)A recommendation that the members approve the disposition, or if the board determines that because of conflict of interest or other special circumstances it should not make a favorable recommendation, the basis for that determination;
(c)A statement of any condition of the board's submission of the proposed disposition to the members; and
(d)Notice of the meeting at which the proposed disposition will be considered, which must be given in the same manner as notice of a special meeting of members.
[ 2019 c 37 s 1203 .]