I have a 2014 Honda Pilot. It has two kinds of keys, one has buttons on the key itself the other does not have buttons, the one without buttons is a valet key. 

When I went to the Honda dealer to get a spare valet key, they had to program it. There are no obvious electronics. It looks like a metal key with a plastic cover over the handle (bow). I have always assumed it was safe to submerge in water, so I use it when I go boating. But I got wondering if they have to program it does that mean it needs to stay dry?