RCW 33.16.060
Fiduciary relationship of directors and officers.
Directors and officers of an association shall be deemed to stand in a fiduciary relation to the association and shall discharge the duties of their respective positions in good faith and with that diligence, care, and skill which ordinary, prudent persons would exercise under similar circumstances in like position.
[ 1982 c 3 § 32; 1945 c 235 § 20; Rem. Supp. 1945 § 3717-139. Prior: 1933 c 183 § 15; 1925 ex.s. c 144 § 3; 1919 c 169 § 3; 1913 c 110 § 4.]
NOTES:
Severability—1982 c 3: See note following RCW 33.04.002.
Structure Revised Code of Washington
Title 33 - Washington Savings Association Act
Chapter 33.16 - Directors, Officers, and Employees.
33.16.010 - Directors—Number—Vacancies.
33.16.020 - Directors—Qualifications—Eligibility.
33.16.030 - Directors—Prohibited acts.
33.16.050 - Removal of director for cause—When—Procedure.
33.16.060 - Fiduciary relationship of directors and officers.
33.16.080 - Officers—Election—Service.
33.16.090 - Board meetings—Notice—Quorum.
33.16.120 - Statement of assets and liabilities—Reports.
33.16.130 - Bonds of officers and employees.