reglab/housing_qa huggingface dataset:
WA Rev Code § 31.12.015 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.015 - Declaration of policy.

RCW 31.12.015 Declaration of policy.A credit union is a cooperative society organized under this chapter as a nonprofit corporation for the purposes of promoting thrift among its members and creating a source of credit for them at fair and reasonable rates of interest.The director is the state's credit union regulatory authority whose purpose is to protect members' financial interests, the integrity of credit unions as cooperative institutions, and the interests of the general public, and to ensure that credit unions remain viable and competitive in this state.[ 1997 c 397 § 3. Prior: 1994 c 256 § 69; 1994 c 92 § 176; 1984 c 31 § 3.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.025 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.025 - Use of words in name.

RCW 31.12.025 Use of words in name.(1) A credit union shall include the words "credit union" in its name.(2) No person may conduct business or engage in any other activity under a name or title containing the words "credit union", or represent itself as a credit union, unless it is:(a) A credit union, out-of-state credit union, or a foreign credit union;(b) An organization whose membership or ownership is limited to credit unions, out-of-state credit unions, federal credit unions, or their trade organizations;(c) A person that is primarily in the business of managing one or more credit unions, out-of-state credit unions, or federal credit unions; or(d) A credit union service organization.[ 1997 c 397 § 4; 1994 c 256 § 70; 1984 c 31 § 4.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.035 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.035 - Application for permission to organize—Approval.

RCW 31.12.035 Application for permission to organize—Approval.Seven or more natural persons who reside in this state may apply to the director for permission to organize a credit union. The application must include copies of the proposed articles of incorporation and bylaws, and such other information as may be required by the director. The director shall approve or deny a complete application within sixty days of receipt.[ 1997 c 397 § 5; 1994 c 92 § 177; 1984 c 31 § 5.]
WA Rev Code § 31.12.055 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.055 - Manner of organizing—Articles of incorporation—Submission to director.

RCW 31.12.055 Manner of organizing—Articles of incorporation—Submission to director.(1) Persons applying for the organization of a credit union shall execute articles of incorporation stating:(a) The initial name and location of the credit union;(b) That the duration of the credit union is perpetual;(c) That the purpose of the credit union is to engage in the business of a credit union and any other lawful activities permitted to a credit union by applicable law;(d) The number of its directors, which must not be less than five or greater than fifteen, and the names of the persons who are to serve as the initial directors;(e) The names of the incorporators;(f) The extent, if any, to which personal liability of directors is limited;(g) The extent, if any, to which directors, supervisory committee members, officers, employees, and others will be indemnified by the credit union; and(h) Any other provision which is not inconsistent with this chapter.(2) Applicants shall submit the articles of incorporation in triplicate to the director.[ 2017 c 61 § 2; 1997 c 397 § 6. Prior: 1994 c 256 § 71; 1994 c 92 § 179; 1984 c 31 § 7.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.065 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.065 - Bylaws—Submission to director.

RCW 31.12.065 Bylaws—Submission to director.(1) Persons applying for the organization of a credit union shall adopt bylaws that prescribe the manner in which the business of the credit union shall be conducted. The bylaws shall include:(a) The name of the credit union;(b) The field of membership of the credit union;(c) Reasonable qualifications for admission as a member of the credit union, and the procedures for expelling a member;(d) The number of directors and supervisory committee members, and the length of terms they serve and the permissible term length of any interim director or supervisory committee member;(e) Any qualification for eligibility to serve on the credit union's board or supervisory committee;(f) The number of credit union employees that may serve on the board, if any;(g) The frequency of regular meetings of the board and the supervisory committee, and the manner in which members of the board or supervisory committee will be notified of meetings;(h) The timing of the annual membership meeting;(i) The manner in which members may call a special membership meeting;(j) The manner in which members will be notified of membership meetings;(k) The number of members constituting a quorum at a membership meeting;(l) Provisions, if any, for the indemnification of directors, supervisory committee members, officers, employees, and others by the credit union, if not included in the articles of incorporation; and(m) Any other provision which is not inconsistent with this chapter.(2) Applicants shall submit the bylaws in duplicate to the director.[ 2017 c 61 § 3; 2001 c 83 § 2; 1997 c 397 § 7. Prior: 1994 c 256 § 72; 1994 c 92 § 180; 1984 c 31 § 8.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.075 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.075 - Approval, denial of proposed credit union—Appeal.

RCW 31.12.075 Approval, denial of proposed credit union—Appeal.(1) When the proposed articles of incorporation and bylaws complying with the requirements of RCW 31.12.055 and 31.12.065 have been filed with the director, the director shall:(a) Determine whether the articles of incorporation and bylaws are consistent with this chapter; and(b) Determine the feasibility of the credit union, taking into account surrounding facts and circumstances influencing the successful operation of the credit union.(2) If the director is satisfied with the determinations made under subsection (1)(a) and (b) of this section, the director shall endorse each of the articles of incorporation "approved", indicate the date the approval was granted, and return two sets of articles and one set of bylaws to the applicants.(3) If the director is not satisfied with the determinations made under subsection (1)(a) and (b) of this section, the director shall endorse each of the articles of incorporation "denied," indicate the date of, and reasons for, the denial, and return two copies of the articles of incorporation with one copy of the bylaws to the person from whom they were received. The director shall at the time of returning the copies of the articles of incorporation and bylaws, also provide notice to the applicant of the applicant's right to appeal the denial under chapter 34.05 RCW. The denial is conclusive unless the applicant requests a hearing under chapter 34.05 RCW.[ 1997 c 397 § 8; 1994 c 92 § 181; 1984 c 31 § 9.]
WA Rev Code § 31.12.085 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.085 - Filing upon approval—Fee—Notice to director—Authority to commence business.

RCW 31.12.085 Filing upon approval—Fee—Notice to director—Authority to commence business.(1) Upon approval under RCW 31.12.075(2), the director shall deliver a copy of the articles of incorporation to the secretary of state for filing. Upon receipt of the approved articles of incorporation provided by the applicants, and the secretary of state filing fee paid by the department, the secretary of state shall file the articles of incorporation.(2) Upon filing of the approved articles of incorporation by the secretary of state, the persons named in the articles of incorporation and their successors may conduct business as a credit union, having the powers, duties, and obligations set forth in this chapter. A credit union may not conduct business until the articles have been filed by the secretary of state.(3) A credit union shall organize and begin conducting business within six months of the date that its articles of incorporation are filed by the secretary of state or its charter is void. However, the director may grant extensions of the six-month period.[ 2010 c 87 § 2; 2001 c 83 § 3; 1997 c 397 § 9; 1994 c 92 § 182; 1993 c 269 § 12; 1984 c 31 § 10.]NOTES:Effective date—1993 c 269: See note following RCW 23.86.070.
WA Rev Code § 31.12.105 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.105 - Amendment to articles of incorporation—Approval of director—Procedure.

RCW 31.12.105 Amendment to articles of incorporation—Approval of director—Procedure.A credit union's articles of incorporation may be amended by the board with the approval of the director. Complete applications for amendments to the articles must be approved or denied by the director within sixty days of receipt. Amendments to a credit union's articles of incorporation must conform with RCW 31.12.055.Upon approval, the director shall promptly deliver the articles' amendments, including any necessary filing fees paid by the applicant, to the secretary of state for filing. The articles' amendments are effective upon filing of the amendments by the secretary of state.[ 2001 c 83 § 4; 1997 c 397 § 10; 1994 c 92 § 184; 1984 c 31 § 12.]
WA Rev Code § 31.12.115 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.115 - Amendment to bylaws—Approval of director required—Procedure.

RCW 31.12.115 Amendment to bylaws—Approval of director required—Procedure.(1) A credit union's field of membership bylaws may be amended by the board with approval of the director. Complete applications to amend a credit union's field of membership bylaws must be approved or denied by the director within sixty days of receipt.(2) A credit union's other bylaws may be amended by the board.(3) Any amendments to a credit union's bylaws must conform with RCW 31.12.065.[ 2001 c 83 § 5; 1997 c 397 § 11. Prior: 1994 c 256 § 73; 1994 c 92 § 185; 1984 c 31 § 13.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.185 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.185 - Annual membership meetings.

RCW 31.12.185 Annual membership meetings.(1) A credit union's annual membership meeting shall be held at such time and in such manner as the bylaws prescribe, and shall be conducted according to the rules of procedure approved by the board.(2) Notice of the annual membership meetings of a credit union shall be given as provided in the bylaws of the credit union.[ 2019 c 19 § 1; 1997 c 397 § 12; 1987 c 338 § 2; 1984 c 31 § 20.]
WA Rev Code § 31.12.225 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.225 - Board of directors—Election of directors—Terms—Vacancies—Meetings—Rules.

RCW 31.12.225 Board of directors—Election of directors—Terms—Vacancies—Meetings—Rules.(1) The business and affairs of a credit union shall be managed by a board of not less than five and not greater than fifteen directors.(2) The directors must be elected at the credit union's annual membership meeting. They shall hold their offices until their successors are qualified and elected or appointed.(3) Directors shall be elected to terms of between one and three years, as provided in the bylaws. If the terms are longer than one year, the directors must be divided into classes, and an equal number of directors, as nearly as possible, must be elected each year.(4) Except as provided in subsection (5) of this section, any vacancy on the board must be filled by an interim director appointed by the board, unless the interim director would serve a term of fewer than ninety days. Interim directors appointed to fill vacancies created by expansion of the board will serve until the next annual meeting of members. Other interim directors will serve out the unexpired term of the former director, unless provided otherwise in the credit union's bylaws.(5) In the case of a merger between two credit unions pursuant to RCW 31.12.461, a board member of the merging credit union may continue to serve as a board member of the continuing credit union for a period not to exceed the equivalent of the duration of his or her unexpired term on the board of the merging credit union, provided that the approved plan of merger or other agreement approved by the director provides for such service on the continuing credit union's board with a corresponding expansion in the size of the continuing credit union's board not to exceed the limits under subsection (1) of this section.(6) The board will have at least six regular meetings each year, with at least one of these meetings held in each calendar quarter. The director may require the board to meet more frequently than six times per year if the director finds it necessary in order to address matters noted in any examination.(7) The director may adopt rules to interpret this section.[ 2015 c 114 § 3; 2013 c 34 § 3; 2001 c 83 § 6; 1997 c 397 § 14; 1984 c 31 § 24.]
WA Rev Code § 31.12.235 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.235 - Directors—Qualifications—Operating officers and employees may serve.

RCW 31.12.235 Directors—Qualifications—Operating officers and employees may serve.(1) A director must be a natural person and a member of the credit union. If a director ceases to be a member of the credit union, the director shall no longer serve as a director.(2)(a) If a director is absent from more than one-fourth of the regular board meetings in any twelve-month period in a term without being reasonably excused by the board, the director shall no longer serve as a director for the period remaining in the term.(b) The board secretary shall promptly notify the director that he or she shall no longer serve as a director. Failure to provide notice does not affect the termination of the director's service under (a) of this subsection.(3) A director must meet any qualification requirements set forth in the credit union's bylaws. If a director fails to meet these requirements, the director shall no longer serve as a director.(4) The operating officers and employees of the credit union may serve as directors of the credit union, but only as permitted by the credit union's bylaws. In no event may the operating officers and employees of the credit union constitute a majority of the board.[ 2013 c 34 § 4; 2001 c 83 § 7; 1997 c 397 § 15; 1994 c 256 § 78; 1984 c 31 § 25.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.246 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.246 - Removal of directors and supervisory committee members—Interim directors and supervisory committee members.

RCW 31.12.246 Removal of directors and supervisory committee members—Interim directors and supervisory committee members.(1) The members of a credit union may remove a director of the credit union at a special membership meeting held in accordance with RCW 31.12.195 and called for that purpose. If the members remove a director, the members may at the same special membership meeting elect an interim director to complete the remainder of the former director's term of office or authorize the board to appoint an interim director as provided in RCW 31.12.225.(2) The members of a credit union may remove a supervisory committee member at a special membership meeting held in accordance with RCW 31.12.195 and called for that purpose. If the members remove a supervisory committee member, the members may at the same special membership meeting elect an interim supervisory committee member to complete the remainder of the former supervisory committee member's term of office or authorize the supervisory committee to appoint an interim supervisory committee member as provided in RCW 31.12.326.[ 2017 c 61 § 5; 1997 c 397 § 16; 1984 c 31 § 26.]
WA Rev Code § 31.12.251 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.251 - Removal of directors—No quorum.

RCW 31.12.251 Removal of directors—No quorum.If at any time because of the removal of one or more credit union directors under this chapter, the board of directors of a credit union has less than a quorum of directors, all powers and functions vested in or exercisable by the board vest in and are exercisable by the director or directors remaining until such a time as there is a quorum on the board of directors. If all of the directors of a credit union are removed under this chapter, the director of the department of financial institutions shall appoint persons to serve temporarily as directors of the credit union until such a time as their respective successors take office.[ 2010 c 87 § 19.]
WA Rev Code § 31.12.255 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.255 - Board of directors—Powers and duties.

RCW 31.12.255 Board of directors—Powers and duties.The business and affairs of a credit union shall be managed by the board of the credit union. The duties of the board include, but are not limited to, the duties enumerated in this section. The duties listed in subsection (1) of this section may not be delegated by the credit union's board of directors. The duties listed in subsection (2) of this section may be delegated to a committee, officer, or employee, with appropriate reporting to the board.(1) The board shall:(a) Set the par value of shares, if any, of the credit union;(b) Set the minimum number of shares, if any, required for membership;(c) Establish policies governing the operation of the credit union;(d) Establish the conditions under which a member may be expelled for cause;(e) Fill vacancies on all committees except the supervisory committee;(f) Approve an annual operating budget for the credit union;(g) Designate those persons or positions authorized to execute or certify documents or records on behalf of the credit union; and(h) Review the supervisory committee's annual report.(2) In addition, unless delegated, the board shall:(a) Determine the maximum amount of shares and deposits that a member may hold in the credit union;(b) Set the rate of interest on deposits and the rate of dividends on shares and authorize the payment of dividends on shares; and(c) Approve the charge-off of credit union losses.[ 2015 c 123 § 1; 2001 c 83 § 8; 1997 c 397 § 17; 1994 c 256 § 79; 1984 c 31 § 27.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.265 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.265 - Officers.

RCW 31.12.265 Officers.(1) The board at its first meeting after the annual membership meeting shall elect board officers from among its members, as provided in the credit union's bylaws. The board will elect as many board officers as it deems necessary for transacting the business of the board of the credit union. The board officers shall hold office until their successors are qualified and elected, unless sooner removed as provided in this chapter. All board officers must be elected members of the board. However, the office of board treasurer and board secretary may be held by the same person and need not be elected members of the board.(2) The board may designate as many operating officers as it deems necessary for conducting the business of the credit union, including, but not limited to, a principal operating officer. Individuals serving as operating officers may also serve as board officers in accordance with subsection (1) of this section and subject to RCW 31.12.235(4).[ 1997 c 397 § 18; 1994 c 256 § 80; 1987 c 338 § 4; 1984 c 31 § 28.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.267 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.267 - Officials—Fiduciary duty—Information relied on—Definition.

RCW 31.12.267 Officials—Fiduciary duty—Information relied on—Definition.(1) Officials owe a fiduciary duty to the credit union, and must discharge the duties of their positions:(a) In good faith;(b) With the care an ordinarily prudent person in a like position would exercise under similar circumstances; and(c) In a manner the official reasonably believes to be in the best interests of the credit union.(2) In discharging the duties of an official, the official is entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by:(a) One or more officers or employees of the credit union whom the official reasonably believes to be reliable and competent in the matters presented;(b) Legal counsel, public accountants, or other persons as to matters the official reasonably believes are within the person's professional or expert competence; or(c) A committee of the board of directors or supervisory committee of which the official is not a member if the official reasonably believes the committee merits confidence.(3) An official is not acting in good faith if the official has knowledge concerning the matter in question that makes reliance otherwise permitted by subsection (2) of this section unwarranted.(4) An official is not liable for any action taken as a director, or any failure to take any action, if the director performed the duties of the director's office in compliance with this section.(5) As used in this section, "official" means a director, board officer, supervisory committee member, or senior operating officer of the credit union.[ 2017 c 61 § 6; 2010 c 87 § 3; 2001 c 83 § 9; 1997 c 397 § 19.]