Exempting limited equity cooperatives from the Washington uniform common interest ownership act.

HB 2590 exempts limited equity cooperatives (LECs) from Washington's Uniform Common Interest Ownership Act (UCIOA), which governs rules for condos and other shared-property communities. This means LECs - housing models where residents own shares in a cooperative but have limited equity to keep costs stable - will no longer need to follow UCIOA requirements for fees, voting, or shared property maintenance. The bill amends specific state laws (RCW 64.90.010, 64.90.360, and 84.36.675) to create this exemption, directly affecting LEC residents and operators by allowing them to operate under separate rules. The change is procedural, focusing on clarifying regulatory scope rather than altering housing policies.