WSR 13-22-084

PREPROPOSAL STATEMENT OF INQUIRY

[Filed November 6, 2013, 9:04 a.m.]

Subject of Possible Rule Making: Credit Union Act, chapter 31.12 RCW. Propose and adopt rules to implement chapter 34, Laws of 2013 (SB 5302) regarding frequency of board meetings.

Chapter 208-444 WAC or [a] new chapter will be created under Title 208 WAC.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 31.12.516 and 31.12.225 (as passed legislature in 2013, section 6, chapter 34, Laws of 2013). These rules are proposed in compliance with OFM Guidance 3(a).

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The department of financial institutions wants to adopt rules to implement SB 5302 (chapter 34, Laws of 2013), addressing credit unions corporate governance. These new rules will address the frequency of board meetings.

Process for Developing New Rule: Negotiated rule making.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication. Interested parties may participate in this rule making by attending public meetings and hearings. Interested parties may also make comments in writing to P.O. Box 41200, Olympia, WA 98504-1200, or phone (360) 902-8701, or e-mail dcu@dfi.wa.gov.

The rule-making web site is http://www.dfi.wa.gov/cu/rulemaiing.htm [http://www.dfi.wa.gov/cu/rulemaking.htm].

November 6, 2013

Linda Jekel

Division Director

Division of Credit Unions