Washington § 31.12.438 - Investment in real property or leasehold interests — Limitations — Rules.

Full text of Washington Revised Code of Washington § 31.12.438 — Investment in real property or leasehold interests — Limitations — Rules., with citation guidance and answers to common questions.

§ 31.12.438. Investment in real property or leasehold interests — Limitations — Rules.

(1) A credit union may invest in real property or leasehold interests including, but not limited to, structures and fixtures attached to real property for use in conducting its business or the business of a credit union service organization, subject to the following limitations:
(a) The credit union's net worth equals at least five percent of the total of its share and deposit accounts;
(b) The board approves the investment; and
(c) The aggregate of all such investments does not exceed seven and one-half percent of the total of its share and deposit accounts.
(2) The director may, upon written application, waive any of the limitations listed in subsection (1) of this section, and the director may adopt rules to interpret this section.
[ 2022 c 15 s 5; 2013 c 34 s 9; 2001 c 83 s 20; 1997 c 397 s 37. Prior: 1994 c 256 s 87; 1994 c 92 s 198; 1984 c 31 s 45. Formerly RCW 31.12.435.]

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 § 31.12.438

What does Revised Code of Washington § 31.12.438 cover?

Section 31.12.438 ("Investment in real property or leasehold interests — Limitations — Rules.") 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 § 31.12.438?

A common citation format is "Revised Code of Washington § 31.12.438" (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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