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RCW 31.12.235

Directors—Qualifications—Operating officers and employees may serve.

Known as the Washington State Credit Union Act

The act spans §§ 31–31 (99 sections).

Applied in 1 court decision — leading case Save Columbia CU Committee v. Columbia Community Credit Union (2006)

Most recently applied in Save Columbia CU Committee v. Columbia Community Credit Union (July 2006)

2013 c 34 s 4; 2001 c 83 s 7; 1997 c 397 s 15; 1994 c 256 s 78; 1984 c 31 s 25.

(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.

Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.