64.90.550 – Reserve study—Contents.
RCW 64.90.550 Reserve study—Contents. (1) Any reserve study is supplemental to the association’s operating and maintenance budget. (2) A reserve study must include: (a) A reserve component list, including any reserve component, the replacement cost of which exceeds one percent of the annual budget of the association, excluding contributions to the reserves for that reserve […]
64.90.555 – Reserve study—Demand—Enforcement.
RCW 64.90.555 Reserve study—Demand—Enforcement. (1) When more than three years have passed since the date of the last reserve study prepared by a reserve study professional, unit owners of units to which at least twenty percent of the votes in the association are allocated may demand in a record delivered to the board that the […]
64.90.560 – Reserve account—Reserve study—Reserve disclosure—Liability.
RCW 64.90.560 Reserve account—Reserve study—Reserve disclosure—Liability. Except for an award for attorneys’ fees and costs under RCW 64.90.555(2), monetary damages or other liability may not be awarded against or imposed upon the association or its officers or board members, or upon any person who may have provided advice or assistance to the association or its […]
64.90.600 – Applicability—Waiver.
RCW 64.90.600 Applicability—Waiver. (1) RCW 64.90.605 through 64.90.695 apply to all units subject to this chapter, except as provided in subsections (2) and (3) of this section. (2) RCW 64.90.605 through 64.90.695 do not apply in the case of: (a) A conveyance by gift, devise, or descent; (b) A conveyance pursuant to court order; (c) […]
64.90.605 – Public offering statement—Liability.
RCW 64.90.605 Public offering statement—Liability. (1) Except as provided otherwise in subsection (2) of this section, a declarant required to deliver a public offering statement pursuant to subsection (3) of this section must prepare a public offering statement conforming to the requirements of RCW 64.90.610, 64.90.615, and 64.90.620. (2) A declarant may transfer responsibility for […]
64.90.610 – Public offering statement—General provisions—Notice.
RCW 64.90.610 Public offering statement—General provisions—Notice. (1) A public offering statement must contain the following information: (a) The name and address of the declarant; (b) The name and address or location of the management company, if any; (c) The relationship of the management company to the declarant, if any; (d) The name and address of […]
64.90.615 – Public offering statement—Common interest communities subject to development rights.
RCW 64.90.615 Public offering statement—Common interest communities subject to development rights. If the declaration provides that a common interest community is subject to any development rights or if the declarant reserves any special declarant rights, the public offering statement must include, in addition to the information required under RCW 64.90.610: (1) A statement of all […]
64.90.620 – Public offering statement—Conversion buildings.
RCW 64.90.620 Public offering statement—Conversion buildings. (1) A public offering statement for a unit in a conversion building must contain, in addition to the information required under RCW 64.90.610, 64.90.615, and 64.90.655(6)(a): (a) Either a copy of a report prepared by an independent, licensed architect or engineer or a statement by the declarant based on […]
64.90.525 – Budgets—Assessments—Special assessments.
RCW 64.90.525 Budgets—Assessments—Special assessments. (1)(a) Within thirty days after adoption of any proposed budget for the common interest community, the board must provide a copy of the budget to all the unit owners and set a date for a meeting of the unit owners to consider ratification of the budget not less than fourteen nor […]
64.90.530 – Financial statements—Association funds.
RCW 64.90.530 Financial statements—Association funds. (1) The association must prepare, or cause to be prepared, at least annually, a financial statement of the association in accordance with accrual based accounting practices. (2) The financial statements of associations with annual assessments of fifty thousand dollars or more must be audited at least annually by a certified […]