As used in this chapter, the term "controlling interest" has the following meaning:

     (1) In the case of a corporation, either fifty percent or more of the total combined voting power of all classes of stock of the corporation entitled to vote, or fifty percent of the capital, profits, or beneficial interest in the voting stock of the corporation; and

     (2) In the case of a partnership, association, trust, or other entity, fifty percent or more of the capital, profits, or beneficial interest in such partnership, association, trust, or other entity.

[1993 sp.s. c 25 § 505.]

NOTES:

     Severability -- Effective dates -- Part headings, captions not law -- 1993 sp.s. c 25: See notes following RCW 82.04.230.

     Findings -- Intent -- 1993 sp.s. c 25: See note following RCW 82.45.010.