AN
ACT Relating to defining person under the business corporation act, uniform
limited partnership act, and limited liability company act; and amending RCW
23B.01.400, 25.10.010, and 25.15.005.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec.
1. RCW
23B.01.400 and 2000 c 168 s 1 are each amended to read as follows:
Unless
the context clearly requires otherwise, the definitions in this section apply throughout
this title.
(1)
"Articles of incorporation" include amended and restated articles of
incorporation and articles of merger.
(2)
"Authorized shares" means the shares of all classes a domestic or
foreign corporation is authorized to issue.
(3)
"Conspicuous" means so written that a reasonable person against whom
the writing is to operate should have noticed it. For example, printing in
italics or boldface or contrasting color, or typing in capitals or underlined,
is conspicuous.
(4)
"Corporation" or "domestic corporation" means a corporation
for profit, which is not a foreign corporation, incorporated under or subject
to the provisions of this title.
(5)
"Deliver" includes (a) mailing and (b) for purposes of delivering a
demand, consent, or waiver to the corporation or one of its officers,
transmission by facsimile equipment.
(6)
"Distribution" means a direct or indirect transfer of money or other
property, except its own shares, or incurrence of indebtedness by a corporation
to or for the benefit of its shareholders in respect to any of its shares. A
distribution may be in the form of a declaration or payment of a dividend; a
distribution in partial or complete liquidation, or upon voluntary or
involuntary dissolution; a purchase, redemption, or other acquisition of
shares; a distribution of indebtedness; or otherwise.
(7)
"Effective date of notice" has the meaning provided in RCW
23B.01.410.
(8)
"Electronic transmission" or "electronically transmitted"
means any process of electronic communication not directly involving the
physical transfer of paper that is suitable for the retention, retrieval, and
reproduction of the transmitted information by the recipient.
(9)
"Employee" includes an officer but not a director. A director may
accept duties that make the director also an employee.
(10)
"Entity" includes a corporation and foreign corporation,
not-for-profit corporation, profit and not-for-profit unincorporated
association, business trust, estate, partnership, trust, and two or more
persons having a joint or common economic interest, and the state, United
States, and a foreign government.
(11)
"Foreign corporation" means a corporation for profit incorporated
under a law other than the law of this state.
(12)
"Foreign limited partnership" means a partnership formed under laws
other than of this state and having as partners one or more general partners
and one or more limited partners.
(13)
"Governmental subdivision" includes authority, county, district, and
municipality.
(14)
"Includes" denotes a partial definition.
(15)
"Individual" includes the estate of an incompetent or deceased
individual.
(16)
"Limited partnership" or "domestic limited partnership"
means a partnership formed by two or more persons under the laws of this state
and having one or more general partners and one or more limited partners.
(17)
"Means" denotes an exhaustive definition.
(18)
"Notice" has the meaning provided in RCW 23B.01.410.
(19)
"Person" ((includes an individual and an entity)) means an
individual, corporation, business trust, estate, trust, partnership, limited
liability company, association, joint venture, government, governmental
subdivision, agency, or instrumentality, or any other legal or commercial
entity.
(20)
"Principal office" means the office, in or out of this state, so
designated in the annual report where the principal executive offices of a
domestic or foreign corporation are located.
(21)
"Proceeding" includes civil suit and criminal, administrative, and
investigatory action.
(22)
"Public company" means a corporation that has a class of shares
registered with the federal securities and exchange commission pursuant to
section 12 or 15 of the securities exchange act of 1934, or section 8 of the
investment company act of 1940, or any successor statute.
(23)
"Record date" means the date established under chapter 23B.07 RCW on
which a corporation determines the identity of its shareholders and their
shareholdings for purposes of this title. The determinations shall be made as
of the close of business on the record date unless another time for doing so is
specified when the record date is fixed.
(24)
"Secretary" means the corporate officer to whom the board of
directors has delegated responsibility under RCW 23B.08.400(3) for custody of
the minutes of the meetings of the board of directors and of the shareholders
and for authenticating records of the corporation.
(25)
"Shares" means the units into which the proprietary interests in a
corporation are divided.
(26)
"Shareholder" means the person in whose name shares are registered in
the records of a corporation or the beneficial owner of shares to the extent of
the rights granted by a nominee certificate on file with a corporation.
(27)
"State," when referring to a part of the United States, includes a
state and commonwealth, and their agencies and governmental subdivisions, and a
territory and insular possession, and their agencies and governmental
subdivisions, of the United States.
(28)
"Subscriber" means a person who subscribes for shares in a
corporation, whether before or after incorporation.
(29)
"United States" includes a district, authority, bureau, commission,
department, and any other agency of the United States.
(30)
"Voting group" means all shares of one or more classes or series that
under the articles of incorporation or this title are entitled to vote and be
counted together collectively on a matter at a meeting of shareholders. All
shares entitled by the articles of incorporation or this title to vote
generally on the matter are for that purpose a single voting group.
Sec.
2. RCW
25.10.010 and 1987 c 55 s 1 are each amended to read as follows:
As
used in this chapter, unless the context otherwise requires:
(1)
"Certificate of limited partnership" means the certificate referred
to in RCW 25.10.080, and the certificate as amended or restated.
(2)
"Contribution" means any cash, property, services rendered, or a
promissory note or other binding obligation to contribute cash or property or
to perform services, which a partner contributes to a limited partnership in
his capacity as a partner.
(3)
"Event of withdrawal of a general partner" means an event that causes
a person to cease to be a general partner as provided in RCW 25.10.230.
(4)
"Foreign limited partnership" means a partnership formed under laws
other than the laws of this state and having as partners one or more general
partners and one or more limited partners.
(5)
"General partner" means a person who has been admitted to a limited
partnership as a general partner in accordance with the partnership agreement
and named in the certificate of limited partnership as a general partner.
(6)
"Limited partner" means a person who has been admitted to a limited
partnership as a limited partner in accordance with the partnership agreement.
(7)
"Limited partnership" and "domestic limited partnership"
means a partnership formed by two or more persons under the laws of this state
and having one or more general partners and one or more limited partners.
(8)
"Partner" means a limited or general partner.
(9)
"Partnership agreement" means any valid agreement, written or oral,
of the partners as to the affairs of a limited partnership and the conduct of
its business.
(10)
"Partnership interest" means a partner's share of the profits and
losses of a limited partnership and the right to receive distributions of
partnership assets.
(11)
"Person" means ((a natural person, partnership, limited
partnership (domestic or foreign), trust, estate, association, or corporation))
an individual, corporation, business trust, estate, trust, partnership,
limited liability company, association, joint venture, government, governmental
subdivision, agency, or instrumentality, or any other legal or commercial entity.
(12)
"State" means a state, territory, or possession of the United States,
the District of Columbia, or the Commonwealth of Puerto Rico.
(13)
"Conforms to law" as used in connection with duties of the secretary
of state in reviewing documents for filing under this chapter, means the
secretary of state has determined the document complies as to form with the
applicable requirements of this chapter.
(14)
"Effective date" means, in connection with a document filing made by
the secretary of state, the date which is shown by affixing a "filed"
stamp on the documents. When a document is received for filing by the
secretary of state in a form which complies with the requirements of this
chapter and which would entitle the document to be filed immediately upon
receipt, but the secretary of state's approval action occurs subsequent to the
date of receipt, the secretary of state's filing date shall relate back to the
date on which the secretary of state first received the document in acceptable
form. An applicant may request a specific effective date no more than thirty
days later than the receipt date which might otherwise be applied as the
effective date.
Sec.
3. RCW
25.15.005 and 2000 c 169 s 1 are each amended to read as follows:
As
used in this chapter, unless the context otherwise requires:
(1)
"Certificate of formation" means the certificate referred to in RCW
25.15.070, and the certificate as amended.
(2)
"Event of dissociation" means an event that causes a person to cease
to be a member as provided in RCW 25.15.130.
(3)
"Foreign limited liability company" means an entity that is formed
under:
(a)
The limited liability company laws of any state other than this state; or
(b)
The laws of any foreign country that is: (i) An unincorporated association,
(ii) formed under a statute pursuant to which an association may be formed that
affords to each of its members limited liability with respect to the
liabilities of the entity, and (iii) not required, in order to transact
business or conduct affairs in this state, to be registered or qualified under
Title 23B or 24 RCW, or any other chapter of the Revised Code of Washington authorizing
the formation of a domestic entity and the registration or qualification in
this state of similar entities formed under the laws of a jurisdiction other
than this state.
(4)
"Limited liability company" and "domestic limited liability
company" means a limited liability company having one or more members that
is organized and existing under this chapter.
(5)
"Limited liability company agreement" means any written agreement of
the members, or any written statement of the sole member, as to the affairs of
a limited liability company and the conduct of its business which is binding
upon the member or members.
(6)
"Limited liability company interest" means a member's share of the
profits and losses of a limited liability company and a member's right to
receive distributions of the limited liability company's assets.
(7)
"Manager" or "managers" means, with respect to a limited
liability company that has set forth in its certificate of formation that it is
to be managed by managers, the person, or persons designated in accordance with
RCW 25.15.150(2).
(8)
"Member" means a person who has been admitted to a limited liability
company as a member as provided in RCW 25.15.115 and who has not been
dissociated from the limited liability company.
(9)
"Person" means ((a natural person, partnership (whether general or
limited and whether domestic or foreign), limited liability company, foreign
limited liability company, trust, estate, association, corporation, custodian,
nominee, or any other individual or entity in its own or any representative
capacity)) an individual, corporation, business trust, estate, trust,
partnership, limited liability company, association, joint venture, government,
governmental subdivision, agency, or instrumentality, or any other legal or
commercial entity.
(10)
"Professional limited liability company" means a limited liability
company which is organized for the purpose of rendering professional service
and whose certificate of formation sets forth that it is a professional limited
liability company subject to RCW 25.15.045.
(11)
"Professional service" means the same as defined under RCW
18.100.030.
(12)
"State" means the District of Columbia or the Commonwealth of Puerto
Rico or any state, territory, possession, or other jurisdiction of the United
States other than the state of Washington.
