BILL REQ. #:  Z-0880.1 

Read first time 01/12/2004.   Referred to Committee on Judiciary.

     AN ACT Relating to nonprofit miscellaneous and mutual corporations; and adding a new section to chapter 24.06 RCW.

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

NEW SECTION.  Sec. 1   A new section is added to chapter 24.06 RCW to read as follows:
     In addition to any other rights and powers granted under this chapter, any mutual or miscellaneous corporation that was organized under this chapter prior to the effective date of this section and conducts its business on a cooperative basis is entitled, by means of an express election contained in its articles of incorporation or bylaws, to avail itself of part or all of the additional rights and powers granted to cooperative associations under RCW 23.86.105(1), 23.86.160, and 23.86.170, and, if the corporation is a consumer cooperative, under RCW 23.86.030 (1) and (2).