Washington § 31.12.365 Directors and supervisory committee members—Compensation—Reimbursement—Rules.

Washington Statutes

§ 31.12.365 — Directors and supervisory committee members—Compensation—Reimbursement—Rules.

Washington § 31.12.365

Title 31MISCELLANEOUS LOAN AGENCIES

Ch. 31.12WASHINGTON STATE CREDIT UNION ACT

This text of Washington § 31.12.365 (Directors and supervisory committee members—Compensation—Reimbursement—Rules.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 31.12.365 (2026).

Text

(1)A credit union may pay to its directors and supervisory committee members reasonable compensation for their service as directors and supervisory committee members. Irrespective of whether it pays compensation to its directors or supervisory committee members, a credit union may provide to its directors and supervisory committee members:

(a)Gifts of minimal value;

(b)Insurance coverage or incidental services, available to employees generally; and

(c)Reimbursement for reasonable expenses incurred on behalf of themselves and their spouses in the performance of the directors' and supervisory committee members' duties.

(2)The director may adopt rules to interpret this section.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A credit union may pay to its directors and supervisory committee members reasonable compensation for their service as directors and supervisory committee members. Irrespective of whether it pays compensation to its directors or supervisory committee members, a credit union may provide to its directors and supervisory committee members:

(a) Gifts of minimal value;

(b) Insurance coverage or incidental services, available to employees generally; and

(c) Reimbursement for reasonable expenses incurred on behalf of themselves and their spouses in the performance of the directors' and supervisory committee members' duties.

(2) The director may adopt rules to interpret this section.