Washington § 64.90.540 - Reserve account — Withdrawals.

Full text of Washington Revised Code of Washington § 64.90.540 — Reserve account — Withdrawals., with citation guidance and answers to common questions.

§ 64.90.540. Reserve account — Withdrawals.

(1) The board may withdraw funds from the association's reserve account to pay for unforeseen or unbudgeted costs that are unrelated to replacement costs of the reserve components. Any such withdrawal must be recorded in the minute books of the association. The board must give notice of any such withdrawal to each unit owner and adopt a repayment schedule not to exceed twenty-four months unless the board determines that repayment within twenty-four months would impose an unreasonable burden on the unit owners. The board must provide to unit owners along with the annual budget adopted in accordance with RCW 64.90.525 (a) notice of any such withdrawal, (b) a statement of the current deficiency in reserve funding expressed on a per unit basis, and (c) the repayment plan.
(2) The board may withdraw funds from the reserve account without satisfying the notification of repayment requirements under this section to pay for replacement costs of reserve components not included in the reserve study.
[ 2018 c 277 s 329.]

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

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Frequently Asked Questions About Washington § 64.90.540

What does Revised Code of Washington § 64.90.540 cover?

Section 64.90.540 ("Reserve account — Withdrawals.") 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 § 64.90.540?

A common citation format is "Revised Code of Washington § 64.90.540" (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 § 64.90.540 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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