Revised Code of Washington

Wash. Rev. Code § 24.06.265 (2026)

Distribution of assets

✓ current as of May 2026

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The assets of a corporation in the process of dissolution shall be applied and distributed as follows:

(1) All liabilities and obligations of the corporation shall be paid, satisfied and discharged, or adequate provision made therefor;

(2) Assets held by the corporation upon condition requiring return, transfer or conveyance, which condition occurs by reason of the dissolution, shall be returned, transferred, or conveyed in accordance with such requirements;

(3) Remaining assets, if any shall be distributed to the members, shareholders or others in accordance with the provisions of the articles of incorporation.

[ 1969 ex.s. c 120 s 53.]

Notes of Decisions

Cited in 2 cases, 2006–2006 · leading case: Premera v. Kreidler, 131 P.3d 930 (Wash. Ct. App. 2006).

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Premera v. Kreidler, 131 P.3d 930 (Wash. Ct. App. 2006). · cites it 2× “265, the Commissioner added that "[t]he law, as applicable in this case, requires that a nonprofit corporation's assets be distributed in accordance with its articles of incorporation, in accordance with a plan of distribution approved by the attorney general, or in accordance…”

Premera v. Kreidler, 131 P.3d 930 (Wash. Ct. App. 2006). “See RCW 24.06.265. Although Premera insists that it is not a charitable corporation subject to RCW 24.”

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