RCW 31.12.367: Risk—Bond coverage—Notice to director

RCWs > Title 31 > Chapter 31.12 > Section 31.12.367

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31.12.365 << 31.12.367 >> 31.12.372

PDFRCW 31.12.367

Risk—Bond coverage—Notice to director—Timing.

(1) Each credit union must be adequately insured against risk. In addition, each director, officer, committee member, and employee of a credit union must be adequately bonded.

(2) When a credit union receives notice that its fidelity bond coverage will be suspended or terminated, the credit union shall notify the director in writing not less than thirty-five days prior to the effective date of the suspension or termination.

[ 2015 c 114 § 7; 2001 c 83 § 13; 1997 c 397 § 26; 1994 c 92 § 191; 1984 c 31 § 32. Formerly RCW 31.12.306.]