State Codes and Statutes

Statutes > Washington > Title-31 > 31-12 > 31-12-644

Supervision by director — Certain acts prohibited.

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.

[1997 c 397 § 62.]

State Codes and Statutes

Statutes > Washington > Title-31 > 31-12 > 31-12-644

Supervision by director — Certain acts prohibited.

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.

[1997 c 397 § 62.]

State Codes and Statutes

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State Codes and Statutes

Statutes > Washington > Title-31 > 31-12 > 31-12-644

Supervision by director — Certain acts prohibited.

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.

[1997 c 397 § 62.]