§ 31.40.040. Licensee -- Powers and duties
(1) A licensee may participate in the 7(a) loan guaranty program of the small business administration pursuant to section 7(a) of the federal small business investment act of 1958, 15 U.S.C. Sec. 636(a), or any other government program for which the licensee is eligible and which has as its function the provision or facilitation of financing or management assistance to business firms. If a licensee participates in a program referred to in this section, the licensee shall comply with the requirements of that program.
(2) A licensee may be incorporated under either the Washington business corporation act or the Washington nonprofit corporation act. In addition to the powers and privileges provided to a licensee by this chapter, a licensee has all the powers and privileges conferred by its incorporating statute which are not inconsistent with or limited by this chapter.
[1989 c 212 § 4.]
Sections: Previous 31.40.010 31.40.020 31.40.030 31.40.040 31.40.050 31.40.060 31.40.070 31.40.080 31.40.090 31.40.100 31.40.110 31.40.120 31.40.130 31.40.135 31.40.900 NextLast modified: April 7, 2009