Section 31.12.055 - Manner of organizing-Articles of incorporation-Submission to director(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.
RCW 31.12.055
Amended by 2017 c 61,§ 2, eff. 7/23/2017.1997 c 397 § 6. Prior: 1994 c 256 § 71; 1994 c 92 § 179; 1984 c 31 § 7.
Findings-Construction-1994 c 256: See RCW 43.320.007.