Washington § 42.23.040 - Remote interests.

Full text of Washington Revised Code of Washington § 42.23.040 — Remote interests., with citation guidance and answers to common questions.

§ 42.23.040. Remote interests.

A municipal officer is not interested in a contract, within the meaning of RCW 42.23.030, if the officer has only a remote interest in the contract and the extent of the interest is disclosed to the governing body of the municipality of which the officer is an officer and noted in the official minutes or similar records of the municipality prior to the formation of the contract, and thereafter the governing body authorizes, approves, or ratifies the contract in good faith by a vote of its membership sufficient for the purpose without counting the vote or votes of the officer having the remote interest. As used in this section "remote interest" means:
(1) That of a nonsalaried officer of a nonprofit corporation;
(2) That of an employee or agent of a contracting party where the compensation of such employee or agent consists entirely of fixed wages or salary;
(3) That of a landlord or tenant of a contracting party;
(4) That of a holder of less than one percent of the shares of a corporation or cooperative which is a contracting party.
None of the provisions of this section are applicable to any officer interested in a contract, even if the officer's interest is only remote, if the officer influences or attempts to influence any other officer of the municipality of which he or she is an officer to enter into the contract.
[ 1999 c 261 s 3; 1961 c 268 s 5.]

Notes

Findings—Intent—1999 c 261: See note following RCW 42.23.030.

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Frequently Asked Questions About Washington § 42.23.040

What does Revised Code of Washington § 42.23.040 cover?

Section 42.23.040 ("Remote interests.") 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 § 42.23.040?

A common citation format is "Revised Code of Washington § 42.23.040" (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 § 42.23.040 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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