(1) Every corporation incorporated under this title has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the articles of incorporation.

Terms Used In Washington Code 23B.03.010

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) Corporations organized for the purposes of banking or engaging in business as an insurer shall not be organized under this title.
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