Notice and action by board on disposition of assets requiring member approval.

RCW 23.100.1203

in effect

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. 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.

Source: WA Statutes (Official Site)URL: https://app.leg.wa.gov/RCW/default.aspx?cite=23.100&full=trueFetched: 6/29/2026