H-557                _______________________________________________

                                                    HOUSE BILL NO. 104

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Sommers, Lux, Winsley, P. King and Belcher

Read first time 1/21/85 and referred to Committee on Financial Institutions & Insurance.

AN ACT Relating to credit union directors; and amending RCW 31.12.235.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

        Sec. 1.  Section 25, chapter 31, Laws of 1984 and RCW 31.12.235 are each amended to read as follows:

          (1) A director shall be a member of the credit union.  If a director ceases to be a member of the credit union, the director shall no longer serve as director.

          (2) A director shall no longer serve as director if the director in any twelve-month period is absent from more than thirty-three percent of the regular board meetings required by this chapter, unless such absences are approved by the board for good cause.

          (3) The remainder of the term of a director's office that becomes vacant under subsection (1) or (2) of this section shall be served by an interim director appointed by the board.