Revised Code of Washington (RCW) (Last Updated: August 9, 2016)

Section 64.34.392. Reserve account and study—Exemption—Disclosure.

Latest version.

(1) A condominium association with ten or fewer unit owners is not required to follow the requirements under RCW 64.34.380 through 64.34.390 if two-thirds of the owners agree to exempt the association from the requirements.

(2) The unit owners must agree to maintain an exemption under subsection (1) of this section by a two-thirds vote every three years.

(3) Notwithstanding subsections (1) and (2) of this section, a disclosure that the condominium association does not have a reserve study must be included in a unit's public offering statement as required under RCW 64.34.410 or resale certificate as required under RCW 64.34.425.

[ 2009 c 307 § 1.]

2009 c 307 § 1.

                    
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