Washington Code 24.03A.710 – Definitions
Current as of: 2023 | Check for updates
|
Other versions
The definitions in this section apply throughout this section and RCW 24.03A.715 through 24.03A.750 unless the context clearly requires otherwise.
Terms Used In Washington Code 24.03A.710
- 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.
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
(1) “Eligible interests” means interests or shares.
(2) “Interests” means either or both of the following rights under the organic law of an unincorporated entity:
(a) The right to receive distributions from the entity either in the ordinary course or upon liquidation; or
(b) The right to receive notice or vote on issues involving its internal affairs, other than as an agent, assignee, proxy, or person responsible for managing its business, activities, or affairs.
(3) “Merger” means a transaction pursuant to RCW 24.03A.730.
(4) “Party to a merger” means any domestic or foreign nonprofit corporation or eligible entity that will merge under a plan of merger.
(5) “Shares” means the units into which the proprietary interests in a domestic or foreign for-profit corporation are divided.
(6) “Survivor” in a merger means the corporation or eligible entity into which one or more other corporations or eligible entities are merged. A survivor of a merger may preexist the merger or be created by the merger.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.