(1) A unit owners association must be organized no later than the date the first unit in the common interest community is conveyed to a purchaser.
(2) The membership of the association at all times consists exclusively of all unit owners or, following termination of the common interest community, of all former unit owners entitled to distributions of proceeds under RCW 64.90.290 or their heirs, successors, or assigns.
(3) The association must have a board and be organized as a for-profit or nonprofit corporation or limited liability company.
(4) In case of any conflict between Title 23B RCW or chapter 23.86, 24.03A, 24.06, or 25.15 RCW and this chapter, this chapter controls.