Title 33 — Title 33 WASHINGTON SAVINGS ASSOCIATION ACT
15 chapters · 162 sections in this title.
RCW 33.16.010 Directors—Number—Vacancies.
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The business and affairs of every association shall be managed and controlled by a board of not less than seven nor more than fifteen directors, a majority of which shall not be officers or employees of the association. The persons designated in the articles of incorporation shal…
RCW 33.16.020 Directors—Qualifications—Eligibility.
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The board of directors shall be elected at the annual meeting, unless the bylaws of the association otherwise provide.A person shall not be a director of an association if the person has been adjudicated bankrupt or has taken the benefit of any assignment for the benefit of credi…
RCW 33.16.030 Directors—Prohibited acts.
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A director of a savings and loan association shall not, except to the extent permitted for a director of a federal savings and loan association:(1) Have any interest, direct or indirect, in the gains or profits of the association, except to receive dividends, or interest upon his…
RCW 33.16.040 Removal of director, officer or employee on objection of director of financial institutions—Procedure.
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If the director shall notify the board of directors of any association in writing, that he or she has information that any director, officer, or employee of such association is dishonest, reckless, or incompetent or is failing to perform any duty of his or her office, the board s…
RCW 33.16.050 Removal of director for cause—When—Procedure.
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If a director becomes ineligible or if the director's conduct or habits are such as to reflect discredit upon the association or if other good cause exists, the director may be removed from office by an affirmative vote of two-thirds of the members of the board of directors at an…
RCW 33.16.060 Fiduciary relationship of directors and officers.
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Directors and officers of an association shall be deemed to stand in a fiduciary relation to the association and shall discharge the duties of their respective positions in good faith and with that diligence, care, and skill which ordinary, prudent persons would exercise under si…
RCW 33.16.080 Officers—Election—Service.
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The board of directors of the association shall elect the officers named in the bylaws of the association, which officers shall serve at the pleasure of the board.[ 1982 c 3 s 33; 1945 c 235 s 22; Rem. Supp. 1945 s 3717-141. Prior: 1939 c 98 s 2; 1933 c 183 ss 19, 20.]Notes:Sever…
RCW 33.16.090 Board meetings—Notice—Quorum.
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The board of directors of each association shall hold a regular meeting at least once each quarter and whenever required by the director, at a time to be designated by it. Special meetings of the board of directors may be held upon notice to each director sufficient to permit his…
RCW 33.16.120 Statement of assets and liabilities—Reports.
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The board of directors shall cause to be prepared, from the books of the association, a statement of assets and of liabilities, at the end of the association's fiscal year.The board shall also cause to be prepared, certified, and filed with the director, upon blanks to be furnish…
RCW 33.16.130 Bonds of officers and employees.
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The board of directors of every association shall procure a bond or bonds, covering all of its active officers, agents, and employees, whether or not they draw salary or compensation, with duly qualified corporate surety authorized to do business in the state of Washington, condi…
RCW 33.16.150 Pensions, retirement plans and other benefits.
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An association may provide for pensions, retirement plans and other benefits for its officers and employees, and may contribute to the cost thereof in accordance with the plan adopted by its board of directors. Any officer or employee of the association who is also a director or …
RCW 33.16.170 Federal home loan bank as depositary.
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See RCW 30A.32.040.Notes: