Washington Code 23.100.1003 – Judicial dissolution
Current as of: 2023 | Check for updates
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A superior court may dissolve a limited cooperative association or order any action that under the circumstances is appropriate and equitable:
Terms Used In Washington Code 23.100.1003
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fraud: Intentional deception resulting in injury to another.
(1) In a proceeding initiated by the attorney general, if:
(a) The association obtained its articles of organization through fraud; or
(b) The association has continued to exceed or abuse the authority conferred upon it by law; or
(2) In a proceeding initiated by a member, if:
(a) The directors are deadlocked in the management of the association’s affairs, the members are unable to break the deadlock, and irreparable injury to the association is occurring or is threatened because of the deadlock;
(b) The directors or those in control of the association have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent;
(c) The members are deadlocked in voting power and have failed to elect successors to directors whose terms have expired for two consecutive periods during which annual members meetings were held or were to be held; or
(d) The assets of the association are being misapplied or wasted.
[ 2019 c 37 § 1003.]