{"data":{"id":"us-wa/rcw-31.12.413","jurisdiction":"us-wa","citation":"RCW 31.12.413","heading":"Low-income credit unions—Director's approval required—Powers—Rules.","body":"(1) A credit union may apply in writing to the director for designation as a low-income credit union. To qualify for approval of this designation, the credit union must provide evidence satisfactory to the director that at least fifty percent of a substantial and well-defined segment of the credit union's members or potential primary members are low-income members.\n(2) Among other powers and authorities, a low-income credit union may:\n(a) Issue secondary capital accounts approved in advance by the director upon application of the credit union; and\n(b) Accept and maintain shares and deposits from nonmembers.\n(3) The director may adopt rules for the organization and operation of low-income credit unions including, but not limited to, rules concerning secondary capital accounts and requiring disclosures to the purchasers of the accounts.","path":["Title 31","Chapter 31.12"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=31.12.413","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T01:25:35Z","sha256":"895b490a46afb38b1e46548f748743dbbce9423871711e757201cb74f9bca41b","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-31.12.408","next":"us-wa/rcw-31.12.416"},"notice":"GroundRules: Original legal text. Not legal advice."}