Risk—Bond coverage—Notice to director—Timing.

1. Law
2. Revised Code of Washington
3. Miscellaneous Loan Agencies
4. Washington State Credit Union Act.
5. 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.]

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