Washington § 33.16.020 - Directors — Qualifications — Eligibility.

Full text of Washington Revised Code of Washington § 33.16.020 — Directors — Qualifications — Eligibility., with citation guidance and answers to common questions.

§ 33.16.020. Directors — Qualifications — Eligibility.

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.

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Frequently Asked Questions About Washington § 33.16.020

What does Revised Code of Washington § 33.16.020 cover?

Section 33.16.020 ("Directors — Qualifications — Eligibility.") 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 § 33.16.020?

A common citation format is "Revised Code of Washington § 33.16.020" (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 § 33.16.020 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

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