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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) A charitable corporation may merge only with:
(a) Another charitable corporation;
(b) A foreign corporation that, if it were a domestic corporation, would qualify under this chapter as a charitable corporation; or
(c) A foreign or domestic for-profit or nonprofit corporation, or unincorporated entity, only if the charitable corporation is the surviving corporation and continues to qualify as a charitable corporation after the merger.
(2) No member of a charitable corporation may receive or keep anything as a result of a merger other than a membership in the surviving charitable corporation, unless:
(a) The attorney general, or the court in a proceeding in which the attorney general has been given notice, has provided prior written consent; or
(b) The member is a charitable corporation, another entity that is organized and operated exclusively for one or more charitable purposes, the federal government, or a tribal, state, or local government.
Cite this article: FindLaw.com - Washington Revised Code Title 24. Corporations and Associations (Nonprofit) § 24.03A.725. Limitations on charitable corporations - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-24-corporations-and-associations-nonprofit/wa-rev-code-24-03a-725/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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