If the association is organized without shares of stock, the articles shall state whether the voting power and the property rights and interest of each member are equal or unequal; and if unequal the general rule or rules applicable to all members by which the voting power and the property rights and interests, respectively, of each member may be and are determined and fixed; and shall also provide for the admission of new members who shall be entitled to vote and to share in the property of the association with the old members, in accordance with such general rule or rules.

Terms Used In Washington Code 24.36.120

  • Association: means any corporation organized under this chapter. See Washington Code 24.36.030
  • Member: includes members of associations without capital stock and holders of common stock in associations organized with shares of stock. See Washington Code 24.36.030