Revised Code of Washington - RCW Title 31 Miscellaneous Loan Agencies - Section 31.12.644 Supervision by director -- Certain acts prohibited

§ 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.]

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Last modified: April 7, 2009