WAS LEG Common Interest Communities

Published on: May 21, 2025

On Apr. 22, WAS LEG enacted bill on obligations of communities.

  • WAS LEG enacted bill SB 5129 with regard to common interest communities.
  • Document dated Apr. 22, 2025, was received on May 16, 2025 due to a fixed feed.
  • Amendments made to WAS LEG 64.32.250 (application of chapter), WAS LEG 64.32.260, WAS LEG 64.34.076, WAS LEG 64.38.095, amongst other similar sections.
  • Document dated Apr. 22, 2025, was received on May 16, 2025 due to a fixed feed.
  • Bill Provisions
  • Amendment sets out requirement for common interest communities not subject to the Washington Uniform Common Interest Ownership Act (WUCIOA) to be in compliance.
  • Specifically, for such communities to comply with WUCIOA provisions related to meetings, board response and powers during a government declaration of emergency.
  • Also, to be in compliance with WUCIOA provisions on methods of accepting payment of assessments, electric vehicle charging stations, as well as heat pumps.
  • Amendment also expands the list of WUCIOA provisions that apply; and is applicable to certain plat or miscellaneous communities, amongst other things.
  • In addition, authorizes investment of reserve funds in securities, if requirements met.
  • Permits the buyer of a unit to waive receipt of a resale certificate if it is unavailable.
  • Legislative History
  • On Jan. 2, 2025, bill introduced into Senate; on Feb. 12, 2025, bill passed Senate.
  • On Feb. 17, 2025, bill introduced into House; on Apr. 10, 2025, bill passed House.
  • On Apr. 17, 2025, sent to governor; on Apr. 22, 2025, signed by governor, Chapter 119
  • Effectiveness
  • Chapter 119 becomes effective on Jul. 27, 2025 with specified exceptions.
Regulators
WAS LEG
Entity Types
Corp; MG Orig
Reference
Ch. 119, Bill SB5129, 4/22/2025; Citation: *WAS LEG* 64.32.250, 64.32.260, 64.34.076, 64.38.095;
Functions
Compliance; C-Suite; Financial; Legal; Operations; Reporting
Countries
United States of America
Category
State
N/A
Products
Corporate; Mortgage
Rule Type
Final
Regions
Am
Rule Date
Apr 22, 2025
Effective Date
Jul 27, 2025
Rule ID
255096
Linked to
N/A
Reg. Last Update
Apr 22, 2025
Report Section
US Investment