Washington § 64.90.530 - Financial statements — Association funds.

Full text of Washington Revised Code of Washington § 64.90.530 — Financial statements — Association funds., with citation guidance and answers to common questions.

§ 64.90.530. Financial statements — Association funds.

(1) The association must prepare, or cause to be prepared, at least annually, a financial statement of the association in accordance with accrual based accounting practices.
(2) The financial statements of associations with annual assessments of $100,000 or more must be audited at least annually by a certified public accountant. In the case of an association with annual assessments of less than $100,000, as adjusted pursuant to RCW 64.90.065, an annual audit is also required but may be waived annually by unit owners other than the declarant of units to which a majority of the votes in the association are allocated, excluding the votes allocated to units owned by the declarant.
(3) The association must keep all funds of the association in the name of the association with a qualified financial institution, except as provided in RCW 64.90.535. The funds must not be commingled with the funds of any other association or with the funds of any managing agent of the association or any other person, or be kept in any trust account or custodial account in the name of any trustee or custodian.
(4) A managing agent who accepts or receives funds belonging to the association must promptly deposit all such funds into an account maintained by the association as provided in subsection (3) of this section or RCW 64.90.535, as appropriate.
[ 2026 c 96 s 6; 2025 c 119 s 23; 2018 c 277 s 327.]

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

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Frequently Asked Questions About Washington § 64.90.530

What does Revised Code of Washington § 64.90.530 cover?

Section 64.90.530 ("Financial statements — Association funds.") 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 § 64.90.530?

A common citation format is "Revised Code of Washington § 64.90.530" (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 § 64.90.530 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.

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