State Codes and Statutes

Statutes > Washington > Title-31 > 31-12 > 31-12-382

Limitation on membership.

(1) Membership in a credit union shall be limited to groups having a common bond of occupation or association, or to groups within a well-defined neighborhood, community, or rural district. The director may adopt rules: (a) Reasonably defining "common bond"; and (b) setting forth standards for the approval of charters.

(2) The director may approve the inclusion within the field of membership of a credit union a group having a separate common bond if the director determines that the group is not of sufficient size or resources to support a viable credit union of its own.

[1994 c 92 § 178; 1984 c 31 § 6. Formerly RCW 31.12.045.]

State Codes and Statutes

Statutes > Washington > Title-31 > 31-12 > 31-12-382

Limitation on membership.

(1) Membership in a credit union shall be limited to groups having a common bond of occupation or association, or to groups within a well-defined neighborhood, community, or rural district. The director may adopt rules: (a) Reasonably defining "common bond"; and (b) setting forth standards for the approval of charters.

(2) The director may approve the inclusion within the field of membership of a credit union a group having a separate common bond if the director determines that the group is not of sufficient size or resources to support a viable credit union of its own.

[1994 c 92 § 178; 1984 c 31 § 6. Formerly RCW 31.12.045.]

State Codes and Statutes

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State Codes and Statutes

Statutes > Washington > Title-31 > 31-12 > 31-12-382

Limitation on membership.

(1) Membership in a credit union shall be limited to groups having a common bond of occupation or association, or to groups within a well-defined neighborhood, community, or rural district. The director may adopt rules: (a) Reasonably defining "common bond"; and (b) setting forth standards for the approval of charters.

(2) The director may approve the inclusion within the field of membership of a credit union a group having a separate common bond if the director determines that the group is not of sufficient size or resources to support a viable credit union of its own.

[1994 c 92 § 178; 1984 c 31 § 6. Formerly RCW 31.12.045.]