H-802                _______________________________________________

                                                    HOUSE BILL NO. 535

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Appelwick, McMullen and Niemi

Read first time 2/6/85 and referred to Committee on Judiciary.

AN ACT Relating to the horizontal property regimes act; and adding a new section to chapter 64.32 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 64.32 RCW to read as follows:

          The association of apartment owners shall have only those powers expressly granted in this chapter or necessarily implied therefrom.  No association of apartment owners may own or manage any property which is not the subject of the declaration or any interest in any corporation or invest any moneys under its control except the incidental investment of cash reserves necessary in the management of the property.