WAC 208-444-040. Definitions

Unless the context clearly requires otherwise, as used in this chapter: (1) "Compensation" includes nonmonetary items, except those of nominal value. (2) "Immediate family member" means a spouse or other family member living in the same household. (3) "Loan" includes line of credit. (4) "Person" means a natural person or an organization. (5) "Senior management employee" means the credit union's chief executive officer (typically, this individual holds the title of president or treasurer/manager), any assistant chief executive officers (e.g., assistant president, vice president, or assistant treasurer/manager), and the chief financial officer (comptroller). (6) "Volunteer official" means an official of a credit union who does not receive compensation from the credit union solely for his or her service as an official.