Washington Revised Code Title 31. Miscellaneous Loan Agencies § 31.12.255. Board of directors--Powers and duties

(a) Set the par value of shares, if any, of the credit union;

(b) Set the minimum number of shares, if any, required for membership;

(c) Establish policies governing the operation of the credit union;

(d) Establish the conditions under which a member may be expelled for cause;

(e) Fill vacancies on all committees except the supervisory committee;

(f) Approve an annual operating budget for the credit union;

(g) Designate those persons or positions authorized to execute or certify documents or records on behalf of the credit union; and

(h) Review the supervisory committee's annual report.

(a) Determine the maximum amount of shares and deposits that a member may hold in the credit union;

(b) Set the rate of interest on deposits and the rate of dividends on shares and authorize the payment of dividends on shares; and

(c) Approve the charge-off of credit union losses.