Current through L. 2024, ch. 202
Section 6-542 - [Effective Until ninety-one days after adjournment] Suspension and removal of officialsA. Both the supervisory committee and the board may suspend for cause by a two-thirds vote of their entire membership any director, officer or member of a committee and shall immediately notify such person in writing of the suspension and the reasons for the suspension.B. A suspended director, officer or committee member may request a special meeting of the members to consider that suspension. The board shall call a special meeting for that purpose not fewer than seven days nor more than twenty-one days after that suspension, and that suspension shall be upheld or overturned by a majority of the members present. The suspended person is entitled to appear and be heard at the special meeting.C. In the absence of a request for a hearing, the suspension is deemed a removal from office. Approval of the suspension by the membership constitutes removal from office.D. Notwithstanding any other provision of this section, the members of a credit union may suspend or remove any director or committee member at any annual or special meeting of the members.This section is set out more than once due to postponed, multiple, or conflicting amendments.