Washington § 23B.25.080 Instituting or maintaining proceedings—Shareholders only.

Washington Statutes

§ 23B.25.080 — Instituting or maintaining proceedings—Shareholders only.

Washington § 23B.25.080

Title 23BWASHINGTON BUSINESS CORPORATION ACT

Ch. 23B.25SOCIAL PURPOSE CORPORATIONS

This text of Washington § 23B.25.080 (Instituting or maintaining proceedings—Shareholders only.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 23B.25.080 (2026).

Text

(1)No proceeding may be instituted or maintained in the right of any social purpose corporation under this title by any party other than a shareholder of the social purpose corporation.

(2)A person may not commence a proceeding in the right of a social purpose corporation unless the person was a shareholder of the corporation when the transaction complained of occurred or unless the person became a shareholder through transfer by operation of law from one who was a shareholder at that time.

(3)Any proceeding instituted or maintained in the right of a social purpose corporation must comply with the procedure set forth in RCW 23B.07.400 .

Free access — add to your briefcase to read the full text and ask questions with AI

(1) No proceeding may be instituted or maintained in the right of any social purpose corporation under this title by any party other than a shareholder of the social purpose corporation.

(2) A person may not commence a proceeding in the right of a social purpose corporation unless the person was a shareholder of the corporation when the transaction complained of occurred or unless the person became a shareholder through transfer by operation of law from one who was a shareholder at that time.

(3) Any proceeding instituted or maintained in the right of a social purpose corporation must comply with the procedure set forth in RCW 23B.07.400 .