43.33A.210 - Assets not publicly traded--Treatment of rent and income--Management accounts--Application of this chapter and chapter 39.58 RCW. - Washington Statutes

Assets not publicly traded — Treatment of rent and income — Management accounts — Application of this chapter and chapter 39.58 RCW.

Rent and other income from real estate or other investment assets that are not publicly traded on a daily basis or on an organized exchange that are acquired and being held for investment by the board or by an entity created under RCW 43.33A.200 by the board, and being managed by an external advisor or other property manager under contract, shall not be deemed income or state funds for the purposes of chapter 39.58 RCW and this title, until distributions are made to the board of such income from the advisor or manager. Bank and other accounts established by the advisor or property manager for the purpose of the management of such investment assets shall not be deemed accounts established by the state for the purpose of chapter 39.58 RCW and this title.

[1997 c 359 § 2.]