2015 Revised Code of Washington
Title 64 - REAL PROPERTY AND CONVEYANCES
64.34 Condominium act.
64.34.392 Reserve account and study—Exemption—Disclosure.
RCW 64.34.392 Reserve account and study—Exemption—Disclosure.
(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.]
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