RCW 33.16.020
218 words·~1 min read·
/wa/title-33/chapter-33-16/33-16-020·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board of directors shall be elected at the annual meeting, unless the bylaws of the association otherwise provide.
A person shall not be a director of an association if the person has been adjudicated bankrupt or has taken the benefit of any assignment for the benefit of creditors or has suffered a judgment recovered against him or her for a sum of money to remain unsatisfied of record or unsuperseded on appeal for a period of more than three months.
To be eligible to hold the position of director of an association, a person must have savings or stock or a combination thereof in the sum or the aggregate sum of at least one thousand dollars. Such minimum amount shall not be reduced either by withdrawal or by pledge for a loan or in any other manner, so long as he or she remains a director of the association.
[ 2011 c 336 s 757 ; 1982 c 3 s 28 ; 1963 c 246 s 5 ; 1945 c 235 s 15 ; Rem. Supp. 1945 s 3717-134. Prior: 1933 c 183 ss 12, 14; 1925 ex.s. c 144 s 3 ; 1919 c 169 s 3 ; 1913 c 110 s 4 .]
Notes:
Severability — 1982 c 3: See note following RCW 33.04.002 .