Wash. Rev. Code § 64.34.392 – Reserve account and study—Exemption—Disclosure. (Effective until January 1, 2028.) | Midpage
§ 64.34.392
Wash. Rev. Code § 64.34.392
Reserve account and study—Exemption—Disclosure. (Effective until January 1, 2028.)
[ 2019 c 238 s 221; 2009 c 307 s 1.]
RCW 64.34.392 — Reserve account and study—Exemption—Disclosure. (Effective until January 1, 2028.)
(1) Except as provided in RCW 64.90.080 and 64.90.545, 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.