Supervision by director — Certain acts prohibited.

RCW 31.12.644
in effect
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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. 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.
Source: WA Statutes (Official Site)URL: https://app.leg.wa.gov/RCW/default.aspx?cite=31.12&full=trueFetched: 6/29/2026

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RCW 31.12.644 — Supervision by director — Certain acts prohibited | Revised Code of Washington | Corpus