BILL REQ. #:  H-0361.1 

Read first time 01/11/2007.   Referred to Committee on Judiciary.

     AN ACT Relating to the limitations period for an account receivable; amending RCW 4.16.040; and creating a new section.

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

Sec. 1   RCW 4.16.040 and 1989 c 38 s 1 are each amended to read as follows:
     The following actions shall be commenced within six years:
     (1) An action upon a contract in writing, or liability express or implied arising out of a written agreement.
     (2) An action upon an account receivable ((incurred in the ordinary course of business)). For purposes of this section, an account receivable is any obligation for payment incurred in the ordinary course of the claimant's business or profession, whether arising from one or more transactions and whether or not earned by performance.
     (3) An action for the rents and profits or for the use and occupation of real estate.

NEW SECTION.  Sec. 2   This act applies to all causes of action on accounts receivable, whether commenced before or after the effective date of this section.