Revised Code of Washington - RCW Title 31 Miscellaneous Loan Agencies - Section 31.12.285 Suspension of members of board or supervisory committee by board -- For cause

§ 31.12.285. Suspension of members of board or supervisory committee by board -- For cause

The board may suspend for cause a member of the board or a member of the supervisory committee until a membership meeting is held. The membership meeting must be held within thirty days after the suspension. The members attending the meeting shall vote whether to remove a suspended party. For purposes of this section, "cause" includes demonstrated financial irresponsibility, a breach of fiduciary duty to the credit union, or activities which, in the judgment of the board, threaten the safety and soundness of the credit union.

[1997 c 397 § 21; 1984 c 31 § 30.]

Sections:  Previous  31.12.225  31.12.235  31.12.246  31.12.255  31.12.265  31.12.267  31.12.269  31.12.285  31.12.326  31.12.335  31.12.345  31.12.365  31.12.367  31.12.382  31.12.384  Next

Last modified: April 7, 2009