(1) Subject to subsection (2) of this section, a credit union may expel any member of the credit union who:
(a) Has not carried out the member’s engagements with the credit union;
(b) Has been convicted of a criminal offense;
(c) Fails to comply with the provisions of this chapter or of the credit union’s articles, bylaws or policies;
(d) Threatens, harasses or abuses any member, employee, board or committee member or agent of the credit union; or
(e) Habitually neglects to pay the member’s debts or becomes insolvent or bankrupt.
(2) A credit union that expels a member shall inform the member in writing of the reasons for the expulsion and give the expelled member reasonable opportunity to request the credit union’s board of directors to reinstate the member. Members of a credit union who withdraw or are expelled shall not be relieved of any liability to the credit union. The amounts paid in on shares or deposited by such members, together with any dividends credited to their shares and any interest which has accrued on their deposits, shall be repaid to them in the order of their withdrawal or expulsion, as funds become available therefor, but the credit union may deduct from such payments any sums due to the credit union from such members. [1975 c.652 §24; 1985 c.762 §94; 1999 c.185 §13; 2007 c.343 §6]
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