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Chapter 31.12 RCW

WASHINGTON STATE CREDIT UNION ACT

Sections

HTMLPDF 31.12.003Findings—Intent—1997 c 397.
HTMLPDF 31.12.005Definitions.
CREDIT UNION ORGANIZATION
HTMLPDF 31.12.015Declaration of policy.
HTMLPDF 31.12.025Use of words in name.
HTMLPDF 31.12.035Application for permission to organize—Approval.
HTMLPDF 31.12.055Manner of organizing—Articles of incorporation—Submission to director.
HTMLPDF 31.12.065Bylaws—Submission to director.
HTMLPDF 31.12.075Approval, denial of proposed credit union—Appeal.
HTMLPDF 31.12.085Filing upon approval—Fee—Notice to director—Authority to commence business.
CORPORATE GOVERNANCE
HTMLPDF 31.12.105Amendment to articles of incorporation—Approval of director—Procedure.
HTMLPDF 31.12.115Amendment to bylaws—Approval of director required—Procedure.
HTMLPDF 31.12.185Annual membership meetings.
HTMLPDF 31.12.195Special membership meetings.
HTMLPDF 31.12.225Board of directors—Election of directors—Terms—Vacancies—Meetings—Rules.
HTMLPDF 31.12.235Directors—Qualifications—Operating officers and employees may serve.
HTMLPDF 31.12.246Removal of directors and supervisory committee members—Interim directors and supervisory committee members.
HTMLPDF 31.12.251Removal of directors—No quorum.
HTMLPDF 31.12.255Board of directors—Powers and duties.
HTMLPDF 31.12.265Officers.
HTMLPDF 31.12.267Officials—Fiduciary duty—Information relied on—Definition.
HTMLPDF 31.12.269Directors and committee members—Limitations on personal liability—Exceptions.
HTMLPDF 31.12.285Suspension of members of board or supervisory committee by board—For cause.
HTMLPDF 31.12.326Supervisory committee—Membership—Terms—Vacancies—Operating officers and employees may not serve—Audit committee alternative.
HTMLPDF 31.12.335Supervisory committee—Duties.
HTMLPDF 31.12.345Suspension of members of a committee or members of the board by supervisory committee—For cause.
HTMLPDF 31.12.365Directors and supervisory committee members—Compensation—Reimbursement—Rules.
HTMLPDF 31.12.367Risk—Bond coverage—Notice to director—Timing.
HTMLPDF 31.12.372Director may suspend any person, reason—Notice—Injunctions.
MEMBERSHIP
HTMLPDF 31.12.382Limitation on membership.
HTMLPDF 31.12.384Membership.
HTMLPDF 31.12.386Voting rights—Methods—Proxy—Under eighteen years of age.
HTMLPDF 31.12.388Expulsion of member—Challenge—Share and deposit accounts.
POWERS OF CREDIT UNIONS
HTMLPDF 31.12.402Powers.
HTMLPDF 31.12.404Additional powers—Authority of director.
HTMLPDF 31.12.408Insurance required after December 31, 1998—Federal share insurance program or an equivalent share insurance program—Director's findings.
HTMLPDF 31.12.413Low-income credit unions—Director's approval required—Powers—Rules.
MEMBERS' ACCOUNTS
HTMLPDF 31.12.416Shares and deposits governed by chapter 30.22 RCW—Limitation on shares and deposits—Notice of withdrawal—Lien rights.
HTMLPDF 31.12.418Dividends.
LOANS TO MEMBERS
HTMLPDF 31.12.426Loans—Secured or unsecured loans.
HTMLPDF 31.12.428Limit on loan amount.
INVESTMENTS
HTMLPDF 31.12.436Investment of funds—When investment later becomes impermissible.
HTMLPDF 31.12.438Investment in real property or leasehold interests—Limitations—Rules.
MERGERS, CONVERSIONS, AND VOLUNTARY LIQUIDATIONS
HTMLPDF 31.12.461Mergers.
HTMLPDF 31.12.464Merger or conversion of state into federal, out-of-state, or foreign credit union, or other type of financial institution.
HTMLPDF 31.12.467Merger or conversion of federal, out-of-state, or foreign to state credit union.
HTMLPDF 31.12.471Authority of out-of-state or foreign credit union to operate in this state—Conditions—Rules.
HTMLPDF 31.12.474Liquidation—Disposition of unclaimed funds.
EXAMINATION AND SUPERVISION
HTMLPDF 31.12.516Powers of director.
HTMLPDF 31.12.518Powers of director under chapter 19.144 RCW.
HTMLPDF 31.12.545Examinations and investigations—Reports—Access to records—Oaths—Subpoenas.
HTMLPDF 31.12.565Examination reports and specified other information confidential—Exceptions—Penalty.
HTMLPDF 31.12.567Reports—Financial and statistical data—As required by director.
HTMLPDF 31.12.569Generally accepted accounting principles.
HTMLPDF 31.12.571Notice of intent to establish branch—Another state or foreign jurisdiction.
HTMLPDF 31.12.575Removal or prohibition orders—Director's authority—Notice.
HTMLPDF 31.12.580Contents of notice under RCW 31.12.575—Hearing—Order.
HTMLPDF 31.12.585Prohibited acts—Notice—Cease and desist order.
HTMLPDF 31.12.595Temporary cease and desist order—Notice—Principal place of business—Superior court.
HTMLPDF 31.12.625Administrative hearing—Procedures.
HTMLPDF 31.12.630Authority of director to call special meeting of board.
HTMLPDF 31.12.633Authority of director to attend meetings of the board.
HTMLPDF 31.12.637Intervention by director—Conditions.
HTMLPDF 31.12.641Supervision by director—Notice—Compliance—Costs.
HTMLPDF 31.12.644Supervision by director—Certain acts prohibited.
HTMLPDF 31.12.647Supervision by director—Credit union request for review.
HTMLPDF 31.12.651Conservator—Authorized actions—Costs.
HTMLPDF 31.12.654Actions by conservator—Review.
HTMLPDF 31.12.657Lawsuits during period of conservatorship.
HTMLPDF 31.12.661Conservator serves until purposes are accomplished.
HTMLPDF 31.12.664Liquidation—Suspension or revocation of articles—Placement in involuntary liquidation—Appointment of liquidating agent—Notice—Procedure—Effect.
HTMLPDF 31.12.667Order directing involuntary liquidation—Procedure.
HTMLPDF 31.12.671Receivership—Appointment of receiver by director—Notice—Act without bond.
HTMLPDF 31.12.674Director's orders—Notice to director of hearing—Hearing—Principal place of business—Superior court.
HTMLPDF 31.12.677Powers and duties of receiver.
HTMLPDF 31.12.681Claims against credit union in receivership—Notice.
HTMLPDF 31.12.684Receiver shall inventory assets—File lists of assets and claims—Objections to approved claims.
HTMLPDF 31.12.687Expenses incurred by receiver.
HTMLPDF 31.12.691Liquidation dividends—Approval of court.
HTMLPDF 31.12.694Remaining assets—Distribution.
HTMLPDF 31.12.697Unclaimed liquidation dividends.
HTMLPDF 31.12.701Personal property—Receiver's duties.
HTMLPDF 31.12.704Proceeds of sale—Deposit or payment by receiver.
HTMLPDF 31.12.707Completion of receivership—Merger, purchase, or liquidation—Secretary of state.
HTMLPDF 31.12.711Director may terminate receivership—Expenses.
HTMLPDF 31.12.714Receivership files.
HTMLPDF 31.12.717Pendency of proceedings for review of appointment of receiver—Liabilities of credit union—Availability of relevant data.
HTMLPDF 31.12.721Appointment by court of temporary receiver—Notice to director.
HTMLPDF 31.12.724Actions that are void—Felonious conduct—Penalties.
HTMLPDF 31.12.726Conservator or receiver may terminate or adopt executory contracts—Timing—Binding terms—Liability.
HTMLPDF 31.12.728Applicability of general receivership law.
MISCELLANEOUS
HTMLPDF 31.12.850Prohibited acts—Criminal penalties.
HTMLPDF 31.12.853Prohibited acts—Civil penalties—Rules.
HTMLPDF 31.12.860Taxation of credit unions.
HTMLPDF 31.12.890Satellite facilities.
HTMLPDF 31.12.891Automated teller machines and night depositories security.
HTMLPDF 31.12.902Short title.
HTMLPDF 31.12.906Effective date—1997 c 397.
HTMLPDF 31.12.909Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
HTMLPDF 31.12.910Effective date—2010 c 87.

NOTES:

Business license system exemption: RCW 19.02.800.
Fairness in lending act: RCW 30A.04.500 through 30A.04.515.