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

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Terms Used In Washington Code > Chapter 31.12 - Washington state credit union act

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the board of directors of a credit union. See Washington Code 31.12.005
  • Board officer: means an officer of the board elected under RCW 31. See Washington Code 31.12.005
  • Capital: means a credit union's reserves, undivided earnings, and allowance for loan and lease losses, and other items that may be included under RCW 31. See Washington Code 31.12.005
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Credit union: means a credit union organized and operating under this chapter. See Washington Code 31.12.005
  • Credit union service organization: means an organization that a credit union has invested in pursuant to RCW 31. See Washington Code 31.12.005
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the department of financial institutions. See Washington Code 31.12.005
  • Director: means the director of financial institutions. See Washington Code 31.12.005
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal credit union: means a credit union organized and operating under the laws of the United States. See Washington Code 31.12.005
  • Fiduciary: A trustee, executor, or administrator.
  • Financial institution: means any commercial bank, trust company, savings bank, or savings and loan association, whether state or federally chartered, and any credit union, out-of-state credit union, or federal credit union. See Washington Code 31.12.005
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign credit union: means a credit union organized and operating under the laws of another country or other foreign jurisdiction. See Washington Code 31.12.005
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insolvency: means :
Washington Code 31.12.005
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Loan: means any loan, overdraft line of credit, extension of credit, or lease, in whole or in part. See Washington Code 31.12.005
  • Material violation of law: means :
  • Washington Code 31.12.005
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Net worth: means a credit union's capital, less the allowance for loan and lease losses. See Washington Code 31.12.005
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Operating officer: means an employee of a credit union designated as an officer pursuant to RCW 31. See Washington Code 31.12.005
  • Organization: means a corporation, partnership, association, limited liability company, trust, or other organization or entity. See Washington Code 31.12.005
  • Out-of-state credit union: means a credit union organized and operating under the laws of another state or United States territory or possession. See Washington Code 31.12.005
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an organization or a natural person including, but not limited to, a sole proprietorship. See Washington Code 31.12.005
  • Personal property: All property that is not real property.
  • primarily: means more than one-half. See Washington Code 31.12.005
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Senior operating officer: includes :
  • Washington Code 31.12.005
  • Significantly undercapitalized: means a net worth to total assets ratio of less than four percent. See Washington Code 31.12.005
  • Statute: A law passed by a legislature.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trustee: A person or institution holding and administering property in trust.
  • Unsafe or unsound condition: means , but is not limited to:
  • Washington Code 31.12.005
  • Unsafe or unsound practice: means any action, or lack of action, which is contrary to generally accepted standards of prudent operation, the likely consequences of which, if continued, would be abnormal risk of loss or danger to a credit union, its members, or an organization insuring or guaranteeing its shares and deposits. See Washington Code 31.12.005