Washington Code 24.03A.600 – Contract rights of officers
Current as of: 2023 | Check for updates
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(1) The appointment or election of an officer does not itself create contract rights.
Terms Used In Washington Code 24.03A.600
- Contract: A legal written agreement that becomes binding when signed.
- 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) An officer’s removal does not affect the officer’s contract rights, if any, with the nonprofit corporation. An officer’s resignation does not affect the corporation’s contract rights, if any, with the officer.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.