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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Members expelled from the credit union will be notified of the expulsion and the reasons upon which it is based. The credit union will, upon request of the expelled member, allow the member to challenge the expulsion and seek reinstatement as a member.
(2) The amounts in an expelled member's share and deposit accounts must be promptly paid to the person following expulsion, and after deducting amounts due from the member(s) to the credit union, including, but not limited to, any applicable penalties for early withdrawal. Expulsion will not operate to relieve the person from outstanding liabilities owed to the credit union.
Cite this article: FindLaw.com - Washington Revised Code Title 31. Miscellaneous Loan Agencies § 31.12.388. Expulsion of member--Challenge--Share and deposit accounts - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-31-miscellaneous-loan-agencies/wa-rev-code-31-12-388/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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