Public-domain · open source

RCW 31.12.365

Directors and supervisory committee members—Compensation—Reimbursement—Rules.

Known as the Washington State Credit Union Act

The act spans §§ 31–31 (99 sections).

2015 c 123 s 2; 2013 c 34 s 6; 2001 c 83 s 12; 1997 c 397 s 25; 1984 c 31 s 38.

(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.

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