1. (1) Persons applying for the organization of a credit union shall execute articles of incorporation stating:

   1. (a) The initial name and location of the credit union;
   2. (b) That the duration of the credit union is perpetual;
   3. (c) That the purpose of the credit union is to engage in the business of a credit union and any other lawful activities permitted to a credit union by applicable law;
   4. (d) The number of its directors, which must not be less than five or greater than fifteen, and the names of the persons who are to serve as the initial directors;
   5. (e) The names of the incorporators;
   6. (f) The extent, if any, to which personal liability of directors is limited;
   7. (g) The extent, if any, to which directors, supervisory committee members, officers, employees, and others will be indemnified by the credit union; and
   8. (h) Any other provision which is not inconsistent with this chapter.
2. (2) Applicants shall submit the articles of incorporation in triplicate to the director.

[ 2017 c 61 s 2; 1997 c 397 s 6. Prior: 1994 c 256 s 71; 1994 c 92 s 179; 1984 c 31 s 7.]

Notes:

Findings—Construction—1994 c 256: See RCW 43.320.007.