Washington § 31.12.724 - Actions that are void — Felonious conduct — Penalties.

Full text of Washington Revised Code of Washington § 31.12.724 — Actions that are void — Felonious conduct — Penalties., with citation guidance and answers to common questions.

§ 31.12.724. Actions that are void — Felonious conduct — Penalties.

(1) Every transfer of a credit union's property or assets, and every assignment by a credit union for the benefit of creditors, made in contemplation of insolvency, or after it has become insolvent, to intentionally prefer one creditor over another, or to intentionally prevent the equal distribution of its property and assets among its creditors, is void.
(2) Every credit union director, officer, or employee making any transfer described in subsection (1) of this section is guilty of a class B felony punishable according to chapter 9A.20 RCW.
(3) An officer, director, or employee of a credit union who fraudulently receives any share or deposit on behalf of the credit union, knowing that the credit union is insolvent, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2003 c 53 s 192; 1997 c 397 s 86.]

Notes

Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.

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

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What does Revised Code of Washington § 31.12.724 cover?

Section 31.12.724 ("Actions that are void — Felonious conduct — Penalties.") 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.

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