Washington § 23B.25.080 - Instituting or maintaining proceedings — Shareholders only.

Full text of Washington Revised Code of Washington § 23B.25.080 — Instituting or maintaining proceedings — Shareholders only., with citation guidance and answers to common questions.

§ 23B.25.080. Instituting or maintaining proceedings — Shareholders only.

(1) No proceeding may be instituted or maintained in the right of any social purpose corporation under this title by any party other than a shareholder of the social purpose corporation.
(2) A person may not commence a proceeding in the right of a social purpose corporation unless the person was a shareholder of the corporation when the transaction complained of occurred or unless the person became a shareholder through transfer by operation of law from one who was a shareholder at that time.
(3) Any proceeding instituted or maintained in the right of a social purpose corporation must comply with the procedure set forth in RCW 23B.07.400.
[ 2012 c 215 s 9.]

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Frequently Asked Questions About Washington § 23B.25.080

What does Revised Code of Washington § 23B.25.080 cover?

Section 23B.25.080 ("Instituting or maintaining proceedings — Shareholders only.") 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 § 23B.25.080?

A common citation format is "Revised Code of Washington § 23B.25.080" (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 § 23B.25.080 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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