§ 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.]
Sections: Previous 31.12.269 31.12.285 31.12.326 31.12.335 31.12.345 31.12.365 31.12.367 31.12.382 31.12.384 31.12.386 31.12.388 31.12.402 31.12.404 31.12.408 31.12.413 NextLast modified: April 7, 2009