Cal. Fin. Code § 15051

Current through the 2023 Legislative Session.

Section 15051 - Office declared vacant for failure to timely reduce obligation

The board of directors shall declare the office of any director, officer, committee member, or the credit manager vacant if the person fails to reduce any obligation to the credit union for which he or she is liable in a timely manner according to the terms of the obligation.

Ca. Fin. Code § 15051

Amended by Stats. 1984, Ch. 789, Sec. 16.