S-3936.1
SENATE BILL 6411
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State of Washington | 64th Legislature | 2016 Regular Session |
By Senators Angel, Bailey, Rivers, Becker, Warnick, and Padden
Read first time 01/20/16. Referred to Committee on Law & Justice.
AN ACT Relating to expanding the eligibility of certain representatives and transferees to serve as directors, officers, and shareholders of professional service corporations; and amending RCW
18.100.118.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 18.100.118 and 1983 c 51 s 11 are each amended to read as follows:
If all of the outstanding shares of a professional corporation are held by an administrator, executor, guardian, conservator, or receiver of the estate of a former shareholder, or by a transferee who received such shares by operation of law ((or)), court decree, community property agreement, or as a distribution from the former shareholder's estate or trust, then such administrator, executor, guardian, conservator, receiver, or transferee ((for a period of twelve months following receipt or transfer of such shares)) may be a director, officer, or shareholder of the professional corporation.
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