Washington § 31.12.426 - Loans — Secured or unsecured loans.

Full text of Washington Revised Code of Washington § 31.12.426 — Loans — Secured or unsecured loans., with citation guidance and answers to common questions.

§ 31.12.426. Loans — Secured or unsecured loans.

(1) A credit union may make secured and unsecured loans to its members under policies established by the board, subject to the loans to one borrower limits provided for in RCW 31.12.428. Each loan must be evidenced by records adequate to support enforcement or collection of the loan and any review of the loan by the director. Loans must be in compliance with rules adopted by the director.
(2) Loans to directors, supervisory committee members, and credit committee members may not be made under more favorable terms and conditions than those made to members generally.
(3) A credit union may obligate itself to purchase loans in accordance with RCW 31.12.436(1)(a), if the credit union's underwriting policies would have permitted it to originate the loans.
[ 2013 c 34 s 7; 2001 c 83 s 17; 1997 c 397 s 34. Prior: 1994 c 256 s 84; 1994 c 92 s 195; 1987 c 338 s 6; 1984 c 31 s 42. Formerly RCW 31.12.406.]

Notes

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

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 31.12.426

What does Revised Code of Washington § 31.12.426 cover?

Section 31.12.426 ("Loans — Secured or unsecured loans.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 31.12.426?

A common citation format is "Revised Code of Washington § 31.12.426" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

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