Senate Bill 5011 (Chapter 28) signed by the governor April 17 and effective July 23 amended the business corporation act to permit (1) ratification of defective corporation actions; (2) designation of forum court for filing internal disputes in governing documents;  (3) transfer of assets to a wholly-owned subsidiary corporation without a shareholder vote approving the transfer; (4) a short form merger without shareholder approval if the parent owns 90% of the subsidiary; and (5) a shareholder voting agreement is not presumed to have a 10 year maximum duration.

Washington – Legislation Amends the Business Corporation Act