RCW 31.12.055
208 words·~1 min read·
/wa/title-31/chapter-31-12/31-12-055·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Persons applying for the organization of a credit union shall execute articles of incorporation stating:
(a)The initial name and location of the credit union;
(b)That the duration of the credit union is perpetual;
(c)That the purpose of the credit union is to engage in the business of a credit union and any other lawful activities permitted to a credit union by applicable law;
(d)The number of its directors, which must not be less than five or greater than fifteen, and the names of the persons who are to serve as the initial directors;
(e)The names of the incorporators;
(f)The extent, if any, to which personal liability of directors is limited;
(g)The extent, if any, to which directors, supervisory committee members, officers, employees, and others will be indemnified by the credit union; and
(h)Any other provision which is not inconsistent with this chapter.
(2)Applicants shall submit the articles of incorporation in triplicate to the director.
[ 2017 c 61 s 2 ; 1997 c 397 s 6 . Prior: 1994 c 256 s 71 ; 1994 c 92 s 179 ; 1984 c 31 s 7 .]
Notes:
Findings — Construction — 1994 c 256: See RCW 43.320.007 .