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RCW 31.12.644

Supervision by director—Certain acts prohibited.

Known as the Washington State Credit Union Act

The act spans §§ 31–31 (99 sections).

1997 c 397 s 62.

During the period of supervisory direction, the director may prohibit the credit union from engaging in any of the following acts without prior approval:

(1) Disposing of, conveying, or encumbering any of its assets;

(2) Withdrawing any of its accounts at other financial institutions;

(3) Lending any of its funds;

(4) Investing any of its funds;

(5) Transferring any of its property; or

(6) Incurring any debt, obligation, or liability.

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