5693-S

AN ACT Relating to financial reporting by corporations, associations, societies, and granges; amending RCW 24.28.010; adding a new section to chapter 24.03 RCW; adding a new section to chapter 24.06 RCW; adding a new section to chapter 24.12 RCW; adding a new section to chapter 24.20 RCW; adding a new section to chapter 24.24 RCW; adding a new section to chapter 24.34 RCW; and adding a new section to chapter 24.36 RCW.

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

NEW SECTION. Sec. 1. A new section is added to chapter 24.03 RCW to read as follows:

A corporation with either assets of at least five million dollars or expenses of at least one million dollars, or both, shall complete a nonprofit corporation financial form with the name, address, title, and annual gross compensation of each board member, officer, and the five highest-paid employees of the corporation with the initial registration and the corporation's subsequent annual registration renewals.

The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division.

A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this section.

NEW SECTION. Sec. 2. A new section is added to chapter 24.06 RCW to read as follows:

The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division.

A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this section.

NEW SECTION. Sec. 3. A new section is added to chapter 24.12 RCW to read as follows:

A corporation sole with either assets of at least five million dollars or expenses of at least one million dollars, or both, shall complete a nonprofit corporation financial form with the name, address, title, and annual gross compensation of each board member, officer, and the five highest-paid employees of the corporation sole with the initial registration and the corporation sole's subsequent annual registration renewals.

The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division.

A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this section.

NEW SECTION. Sec. 4. A new section is added to chapter 24.20 RCW to read as follows:

A fraternal society with either assets of at least five million dollars or expenses of at least one million dollars, or both, shall complete a nonprofit corporation financial form with the name, address, title, and annual gross compensation of each board member, officer, and the five highest-paid employees of the fraternal society with the initial registration and the fraternal society's subsequent annual registration renewals.

The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division.

A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this section.

NEW SECTION. Sec. 5. A new section is added to chapter 24.24 RCW to read as follows:

A corporation under this chapter with either assets of at least five million dollars or expenses of at least one million dollars, or both, shall complete a nonprofit corporation financial form with the name, address, title, and annual gross compensation of each board member, officer, and the five highest-paid employees of the corporation with the initial registration and the corporation's subsequent annual registration renewals.

The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division.

A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this section.

Sec. 6. RCW 24.28.010 and 1981 c 302 s 13 are each amended to read as follows:

Any grange of the patrons of husbandry, desiring hereafter to incorporate, may incorporate and become bodies politic in this state, by filing in the office of the secretary of state of Washington, a certificate or article subscribed and acknowledged by not less than five members of such grange and by the master of the Washington state grange embodying:

(1) The name of such grange and the place of holding its meetings.

(2) What elective officers the said grange will have, when such officers shall be elected; how, and by whom, the business of the grange shall be conducted or managed, and what officers shall join in the execution of any contract by such grange to give force and effect in accordance with the usages of the order of the patrons of husbandry; such articles shall be subscribed by the master of such grange attested by the secretary, with the seal of the grange.

(3) A copy of the bylaws of such grange shall also be filed in the said office of the secretary of state.

(4) The names of all such officers at the time of filing the application, and the time for which they may be respectively elected. When such articles shall be filed, such grange shall be a body politic and corporate, with all the incidents of a corporation, subject nevertheless to the laws and parts of laws now in force or hereafter to be passed regulating corporations.

(5) For a grange with either assets of at least five million dollars or expenses of at least one million dollars, or both, a nonprofit corporation financial form with the name, address, title, and annual gross compensation of each officer and the five highest-paid employees of the grange with the initial registration and the grange's subsequent annual registration renewals. The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division. A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this subsection.

NEW SECTION. Sec. 7. A new section is added to chapter 24.34 RCW to read as follows:

An association with either assets of at least five million dollars or expenses of at least one million dollars, or both, shall complete a nonprofit corporation financial form with the name, address, title, and annual gross compensation of each board member, officer, and the five highest-paid employees of the association with the initial registration and the association's subsequent annual registration renewals.

The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division.

A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this section.

NEW SECTION. Sec. 8. A new section is added to chapter 24.36 RCW to read as follows:

An association with either assets of at least five million dollars or expenses of at least one million dollars, or both, shall complete a nonprofit corporation financial form with the name, address, title, and annual gross compensation of each director and the five highest-paid employees of the association with the initial registration and the association's subsequent annual registration renewals.

The secretary shall prescribe the nonprofit corporation financial form by rule and make it available from the office of the secretary of state's corporation division.

A corporation under 26 U.S.C. Sec. 501(c)(3) is exempt from this section.