Washington Code 24.36.270 – Liability of member for association’s debts
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No member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on his or her membership fee or his or her subscription to the capital stock, including any unpaid balance on any promissory note given in payment thereof.
Terms Used In Washington Code 24.36.270
- 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