No professional service corporation organized under this chapter shall engage in any business other than the rendering of the professional services for which it was incorporated or service as a trustee as authorized by RCW 11.36.021 or as a personal representative as authorized by RCW 11.36.010: PROVIDED, That nothing in this chapter or in any other provisions of existing law applicable to corporations shall be interpreted to prohibit such corporation from investing its funds in real estate, personal property, mortgages, stocks, bonds, insurance, or any other type of investments.
RCW 18.100.080
Engaging in other business prohibited—Investments.
Applied in 3 court decisions — leading case Columbia Physical Therapy v. Bfoa (2010)
Most recently applied in 168 Wash. 2d 421 - Columbia Physical Therapy, Inc. v. Benton Franklin Orthopedic Associates, PLLC (March 2010)
1984 c 149 s 170; 1969 c 122 s 8.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.