reglab/housing_qa huggingface dataset:
WA Rev Code § 31.12.269 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.269 - Directors and committee members—Limitations on personal liability—Exceptions.

RCW 31.12.269 Directors and committee members—Limitations on personal liability—Exceptions.(1) Directors and committee members at a credit union or federal credit union have no personal liability for harm caused by acts or omissions performed on behalf of the credit union if: The director or committee member was acting within the scope of his or her duties at the time of the act or omission; the harm was not caused by an act in violation of RCW 31.12.267; the harm was not caused by willful or criminal misconduct, gross negligence, reckless misconduct, or a conscious, flagrant indifference to the rights or safety of the individual harmed; and the harm was not caused by the director or committee member's operation of a motor vehicle, vessel, aircraft, or other vehicle for which the state requires the operator or the owner of the vehicle, craft, or vessel to either possess an operator's license or maintain insurance.(2) This section does not affect a director's or committee member's liability to the credit union or to a governmental entity for harm to the credit union or governmental entity caused by the director or committee member.(3) This section does not affect the vicarious liability of the credit union with respect to harm caused to any person, including harm caused by the negligence of a director or committee member.(4) This section does not affect the liability of employees of the credit union for acts or omissions done within the scope of their employment.[ 2001 c 120 § 1.]
WA Rev Code § 31.12.285 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.285 - Suspension of members of board or supervisory committee by board—For cause.

RCW 31.12.285 Suspension of members of board or supervisory committee by board—For cause.The board may, for cause, suspend a member of the board or a member of the supervisory committee until a special membership meeting, called for that purpose, is held under RCW 31.12.195. The membership meeting must be held within ninety days after the suspension. The members attending the meeting shall vote whether to remove a suspended party. For purposes of this section, "cause" includes demonstrated financial irresponsibility, a breach of fiduciary duty to the credit union, or activities which, in the judgment of the board, threaten the safety and soundness of the credit union.[ 2015 c 114 § 4; 2013 c 34 § 5; 1997 c 397 § 21; 1984 c 31 § 30.]
WA Rev Code § 31.12.335 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.335 - Supervisory committee—Duties.

RCW 31.12.335 Supervisory committee—Duties.(1) The supervisory committee of a credit union shall:(a) Keep informed as to the financial condition of the credit union and the decisions of the credit union's board;(b) Perform or arrange for:(i) A complete annual audit of the credit union; and(ii) A verification of its members' accounts at least once every two years, and shall provide any related findings and recommendations from such audits and verifications to the board;(c) Provide an annual report to members at each annual membership meeting;(d) Perform or arrange for additional audits as requested by the board or management or as deemed necessary by the supervisory committee and provide any related findings and recommendations to management or the board as deemed appropriate by the supervisory committee;(e) Monitor the implementation of management responses to material adverse findings in audits and regulatory examinations;(f) Implement a process for the supervisory committee to receive and respond to whistleblower complaints; and(g) Perform any additional duties as specified by the board or in the credit union's bylaws.(2) The supervisory committee may in its sole discretion retain, at the credit union's expense, independent counsel or other professional advisors or consultants as necessary to perform the duties under this section.[ 2019 c 19 § 3; 2017 c 61 § 8; 2001 c 83 § 11; 1997 c 397 § 23. Prior: 1994 c 256 § 82; 1994 c 92 § 192; 1984 c 31 § 35.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.345 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.345 - Suspension of members of a committee or members of the board by supervisory committee—For cause.

RCW 31.12.345 Suspension of members of a committee or members of the board by supervisory committee—For cause.(1) The supervisory committee may, by unanimous vote, for cause, suspend a member of the board, until a special membership meeting called for that purpose is held in accordance with the requirements of RCW 31.12.195. The membership meeting must be held within ninety days after the suspension. The members participating in that meeting shall vote whether to remove the suspended person or persons.(2) For purposes of this section, "cause" includes demonstrated financial irresponsibility, a breach of fiduciary duty to the credit union, or activities which, in the judgment of the supervisory committee, threaten the safety and soundness of the credit union.[ 2015 c 114 § 6; 1997 c 397 § 24; 1984 c 31 § 36.]
WA Rev Code § 31.12.365 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.365 - Directors and supervisory committee members—Compensation—Reimbursement—Rules.

RCW 31.12.365 Directors and supervisory committee members—Compensation—Reimbursement—Rules.(1) A credit union may pay to its directors and supervisory committee members reasonable compensation for their service as directors and supervisory committee members. Irrespective of whether it pays compensation to its directors or supervisory committee members, a credit union may provide to its directors and supervisory committee members:(a) Gifts of minimal value;(b) Insurance coverage or incidental services, available to employees generally; and(c) Reimbursement for reasonable expenses incurred on behalf of themselves and their spouses in the performance of the directors' and supervisory committee members' duties.(2) The director may adopt rules to interpret this section.[ 2015 c 123 § 2; 2013 c 34 § 6; 2001 c 83 § 12; 1997 c 397 § 25; 1984 c 31 § 38.]
WA Rev Code § 31.12.367 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.367 - Risk—Bond coverage—Notice to director—Timing.

RCW 31.12.367 Risk—Bond coverage—Notice to director—Timing.(1) Each credit union must be adequately insured against risk. In addition, each director, officer, committee member, and employee of a credit union must be adequately bonded.(2) When a credit union receives notice that its fidelity bond coverage will be suspended or terminated, the credit union shall notify the director in writing not less than thirty-five days prior to the effective date of the suspension or termination.[ 2015 c 114 § 7; 2001 c 83 § 13; 1997 c 397 § 26; 1994 c 92 § 191; 1984 c 31 § 32. Formerly RCW 31.12.306.]
WA Rev Code § 31.12.372 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.372 - Director may suspend any person, reason—Notice—Injunctions.

RCW 31.12.372 Director may suspend any person, reason—Notice—Injunctions.(1) The director may issue and serve written notice of charges under RCW 31.12.575 to suspend a person from further participation in any manner in the conduct of the affairs of a credit union if the director determines that such an action is necessary for the protection of the credit union or the interests of the credit union's members.(2) Any suspension notice issued by the director is effective upon service and, unless the superior court of the county in which the primary place of business of the credit union is located issues a stay of the notice, remains in effect and enforceable until:(a) The director dismisses the charges contained in the notice served on the person; or(b) The effective date of a final order for removal of the person pursuant to administrative proceedings under RCW 31.12.625.(3) With the suspension notice, the director shall serve a notice of intent to remove or prohibit under RCW 31.12.575.(4) Within ten days after the person has been served with the suspension notice, the person may apply to the superior court of the county in which the primary place of business of the credit union is located for an injunction setting aside, limiting, or holding in abeyance the suspension notice pending the completion of the administrative proceedings under the notice issued under subsection (3) of this section.(5) In the case of a violation or threatened violation of a suspension notice, the director may apply to the superior court of the county in which the primary place of business of the credit union is located for an injunction to enforce the notice, and the court shall issue an injunction if it determines that there has been a violation or threatened violation.(6) For the purposes of this section, the principal place of business of a foreign or out-of-state credit union is Thurston county.[ 2015 c 114 § 8; 2010 c 87 § 17.]
WA Rev Code § 31.12.382 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.382 - Limitation on membership.

RCW 31.12.382 Limitation on membership.(1) Membership in a credit union shall be limited to groups having a common bond of occupation or association, or to groups within a well-defined neighborhood, community, or rural district. The director may adopt rules: (a) Reasonably defining "common bond"; and (b) setting forth standards for the approval of charters.(2) The director may approve the inclusion within the field of membership of a credit union a group having a separate common bond if the director determines that the group is not of sufficient size or resources to support a viable credit union of its own.(3) The director may approve, in accordance with the provisions of this chapter, the inclusion within a credit union's field of membership of groups having a common bond of occupation or association, or groups within a well-defined neighborhood, community, or rural district, notwithstanding the fact that such groups are situated partially or wholly outside this state.[ 2019 c 19 § 4; 1994 c 92 § 178; 1984 c 31 § 6. Formerly RCW 31.12.045.]
WA Rev Code § 31.12.384 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.384 - Membership.

RCW 31.12.384 Membership.(1) A credit union may admit to membership those persons qualified for membership as set forth in its bylaws.(2) An organization whose membership, ownership, or employees are comprised principally of persons who are eligible for membership in the credit union may become a member of the credit union.[ 1997 c 397 § 27; 1984 c 31 § 16. Formerly RCW 31.12.145.]
WA Rev Code § 31.12.386 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.386 - Voting rights—Methods—Proxy—Under eighteen years of age.

RCW 31.12.386 Voting rights—Methods—Proxy—Under eighteen years of age.(1) No member may have more than one vote. A natural person may not hold more than one membership in a credit union on behalf of himself or herself. An organization having membership in a credit union may cast one vote through a natural person agent duly authorized in writing.(2) Members may vote, as prescribed in the credit union's bylaws, by mail ballot, absentee ballot, or other method. However, no member may vote by proxy.(3) A member who is not at least eighteen years of age is not eligible to vote as a member unless otherwise provided in the credit union's bylaws.[ 2017 c 61 § 9; 1997 c 397 § 28; 1994 c 256 § 76; 1984 c 31 § 17. Formerly RCW 31.12.155.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.388 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.388 - Expulsion of member—Challenge—Share and deposit accounts.

RCW 31.12.388 Expulsion of member—Challenge—Share and deposit accounts.(1) Members expelled from the credit union will be notified of the expulsion and the reasons upon which it is based. The credit union will, upon request of the expelled member, allow the member to challenge the expulsion and seek reinstatement as a member.(2) The amounts in an expelled member's share and deposit accounts must be promptly paid to the person following expulsion, and after deducting amounts due from the member(s) to the credit union, including, but not limited to, any applicable penalties for early withdrawal. Expulsion will not operate to relieve the person from outstanding liabilities owed to the credit union.[ 1997 c 397 § 29; 1984 c 31 § 31. Formerly RCW 31.12.295.]
WA Rev Code § 31.12.413 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.413 - Low-income credit unions—Director's approval required—Powers—Rules.

RCW 31.12.413 Low-income credit unions—Director's approval required—Powers—Rules.(1) A credit union may apply in writing to the director for designation as a low-income credit union. To qualify for approval of this designation, the credit union must provide evidence satisfactory to the director that at least fifty percent of a substantial and well-defined segment of the credit union's members or potential primary members are low-income members.(2) Among other powers and authorities, a low-income credit union may:(a) Issue secondary capital accounts approved in advance by the director upon application of the credit union; and(b) Accept and maintain shares and deposits from nonmembers.(3) The director may adopt rules for the organization and operation of low-income credit unions including, but not limited to, rules concerning secondary capital accounts and requiring disclosures to the purchasers of the accounts.[ 2017 c 61 § 11; 2015 c 114 § 10; 2001 c 83 § 16.]
WA Rev Code § 31.12.416 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.416 - Shares and deposits governed by chapter 30.22 RCW—Limitation on shares and deposits—Notice of withdrawal—Lien rights.

RCW 31.12.416 Shares and deposits governed by chapter 30.22 RCW—Limitation on shares and deposits—Notice of withdrawal—Lien rights.(1) Shares held and deposits made in a credit union by a natural person are governed by *chapter 30.22 RCW. (2) A credit union may require ninety days notice of a member's intention to withdraw shares or deposits. The notice requirement may be extended with the written consent of the director.(3) A credit union will have a lien on all shares and deposits, including, but not limited to, dividends, interest, and any other earnings and accumulations thereon, of any share account holder or depositor, to the extent of any obligation owed to the credit union by the share account holder or depositor.[ 1997 c 397 § 32. Prior: 1994 c 256 § 83; 1994 c 92 § 194; 1984 c 31 § 40. Formerly RCW 31.12.385.]NOTES:*Reviser's note: Chapter 30.22 RCW was recodified as chapter 30A.22 RCW pursuant to 2014 c 37 § 4, effective January 5, 2015.Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.418 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.418 - Dividends.

RCW 31.12.418 Dividends.Dividends may be paid from current undivided earnings which remain after deduction of expenses and the amounts required for reserves, or from the undivided earnings that remain from preceding periods.[ 2015 c 123 § 3; 1997 c 397 § 33; 1984 c 31 § 50. Formerly RCW 31.12.485.]
WA Rev Code § 31.12.426 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.426 - Loans—Secured or unsecured loans.

RCW 31.12.426 Loans—Secured or unsecured loans.(1) A credit union may make secured and unsecured loans to its members under policies established by the board, subject to the loans to one borrower limits provided for in RCW 31.12.428. Each loan must be evidenced by records adequate to support enforcement or collection of the loan and any review of the loan by the director. Loans must be in compliance with rules adopted by the director.(2) Loans to directors, supervisory committee members, and credit committee members may not be made under more favorable terms and conditions than those made to members generally.(3) A credit union may obligate itself to purchase loans in accordance with RCW 31.12.436(1)(a), if the credit union's underwriting policies would have permitted it to originate the loans.[ 2013 c 34 § 7; 2001 c 83 § 17; 1997 c 397 § 34. Prior: 1994 c 256 § 84; 1994 c 92 § 195; 1987 c 338 § 6; 1984 c 31 § 42. Formerly RCW 31.12.406.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.428 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.428 - Limit on loan amount.

RCW 31.12.428 Limit on loan amount.(1) No loan may be made to any borrower if the loan would cause the borrower to be indebted to the credit union on all types of loans in an aggregated amount exceeding ten thousand dollars or twenty-five percent of the capital of the credit union, whichever is greater, without the approval of the director.(2) The director by rule may establish separate limits on business loans to one borrower.[ 2001 c 83 § 18; 1997 c 397 § 35; 1994 c 256 § 92. Formerly RCW 31.12.317.]NOTES:Effective date—1997 c 397 § 35: "Section 35 of this act takes effect July 1, 1998." [ 1997 c 397 § 90.]Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.438 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.438 - Investment in real property or leasehold interests—Limitations—Future expansion—Rules.

RCW 31.12.438 Investment in real property or leasehold interests—Limitations—Future expansion—Rules.(1) A credit union may invest in real property or leasehold interests primarily for its own use or the use of a credit union service organization in conducting business, including, but not limited to, structures and fixtures attached to real property, subject to the following limitations:(a) The credit union's net worth equals at least five percent of the total of its share and deposit accounts;(b) The board approves the investment; and(c) The aggregate of all such investments does not exceed seven and one-half percent of the total of its share and deposit accounts.(2) If the real property or leasehold interest is acquired for future expansion, the credit union must partially occupy the premises within three years after the credit union makes the investment, if the premises are improved at the time of acquisition, or within six years after the credit union makes the investment, if the premises are unimproved at the time of acquisition.(3) The director may, upon written application, waive any of the limitations listed in subsection (1) or (2) of this section, and the director may adopt rules to interpret this section.[ 2013 c 34 § 9; 2001 c 83 § 20; 1997 c 397 § 37. Prior: 1994 c 256 § 87; 1994 c 92 § 198; 1984 c 31 § 45. Formerly RCW 31.12.435.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.
WA Rev Code § 31.12.461 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.12 - Washington State Credit Union Act.|31.12.461 - Mergers.

RCW 31.12.461 Mergers.(1) For purposes of this section, a "merging credit union" is a credit union whose charter ceases to exist upon merger with the continuing credit union, and a "continuing credit union" is a credit union whose charter continues upon merger with the merging credit union.(2) A credit union may be merged with another credit union with the approval by the director of a plan of merger or in accordance with requirements the director may otherwise prescribe. The merger must be approved by a majority vote of the board of each credit union and a majority vote of those members of the merging credit union voting on the merger at a membership meeting. The requirement of approval by the members of the merging credit union may be waived by the director if the merging credit union is in imminent danger of insolvency.(3) The property, rights, and interests of the merging credit union transfer to and vest in the continuing credit union without deed, endorsement, or instrument of transfer, although instruments of transfer may be used if their use is deemed appropriate. The debts and obligations of the merging credit union that are known or reasonably should be known are assumed by the continuing credit union.(4) The continuing credit union shall cause to be published notice of merger once a week for three consecutive weeks in a newspaper of general circulation in the county in which the principal place of business of the merging credit union is located.(5) The notice of merger must also inform creditors of the merging credit union how to make a claim on the continuing credit union, and that if a claim is not made upon the continuing credit union within thirty days of the last date of publication, creditors' claims that are not known by the continuing credit union are thereafter barred.(6) Except for claims filed as requested by the notice, or debts or obligations that are known or reasonably should be known by the continuing credit union, the debts and obligations of the merging credit union are discharged.(7) Upon merger, the charter of the merging credit union ceases to exist.(8) Mergers are effective after the thirty-day notice period to creditors and all regulatory waiting periods have expired, and upon filing of the credit union's articles of merger by the secretary of state, or a later date stated in the articles, which in no event may be later than ninety days after the articles are filed.[ 2015 c 114 § 12; 2014 c 8 § 1; 2013 c 34 § 10; 2001 c 83 § 21; 1997 c 397 § 40. Prior: 1994 c 256 § 91; 1994 c 92 § 220; 1987 c 338 § 8; 1984 c 31 § 71. Formerly RCW 31.12.695.]NOTES:Findings—Construction—1994 c 256: See RCW 43.320.007.