Washington § 24.06.085 - Liability of shareholders, subscribers, assignees, executors, trustees, etc.

Full text of Washington Revised Code of Washington § 24.06.085 — Liability of shareholders, subscribers, assignees, executors, trustees, etc., with citation guidance and answers to common questions.

§ 24.06.085. Liability of shareholders, subscribers, assignees, executors, trustees, etc.

A holder of or subscriber to shares of a corporation shall be under no obligation to the corporation or its creditors with respect to such shares other than the obligation to pay to the corporation the full consideration for which such shares were issued or to be issued.
Any person becoming an assignee or transferee of shares or of a subscription for shares in good faith and without knowledge or notice that the full consideration therefor has not been paid shall not be personally liable to the corporation or its creditors for any unpaid portion of such consideration.
An executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver shall not be personally liable to the corporation as a holder of or subscriber to shares of a corporation but the estate and funds in his or her hands shall be so liable.
No pledgee or other holder of shares as collateral security shall be personally liable as a shareholder.
[ 2011 c 336 s 664; 1969 ex.s. c 120 s 17.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 24.06.085

What does Revised Code of Washington § 24.06.085 cover?

Section 24.06.085 ("Liability of shareholders, subscribers, assignees, executors, trustees, etc.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 24.06.085?

A common citation format is "Revised Code of Washington § 24.06.085" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 24.06.085 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.