BILL REQ. #: S-1854.1

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SUBSTITUTE SENATE BILL 5461
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State of Washington

61st Legislature

2009 Regular Session

By Senate Financial Institutions, Housing & Insurance (originally sponsored by Senator Haugen)

READ FIRST TIME 02/19/09.

AN ACT Relating to reserve account and study requirements for condominium associations; and adding a new section to chapter 64.34 RCW.

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

NEW SECTION.  Sec. 1   A new section is added to chapter 64.34 RCW to read as follows:
     A condominium association is not required to follow the requirements under RCW 64.34.380 through 64.34.390 if:
     (1) The association has ten or fewer condominium owners; and
     (2) Two-thirds of the owners agree to exempt the association from RCW 64.34.380 through 64.34.390.

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