Washington Code 31.12.265 – Officers
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(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.
Terms Used In Washington Code 31.12.265
- Board: means the board of directors of a credit union. See Washington Code 31.12.005
- Credit union: means a credit union organized and operating under this chapter. See Washington Code 31.12.005
- Operating officer: means an employee of a credit union designated as an officer pursuant to RCW 31. See Washington Code 31.12.005
- Person: means an organization or a natural person including, but not limited to, a sole proprietorship. See Washington Code 31.12.005
(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).
NOTES:
Findings—Construction—1994 c 256: See RCW 43.320.007.