Section 31.12.345. Suspension of members of a committee or members of the board by supervisory committee—For cause.

(1) The supervisory committee may, by unanimous vote, for cause, suspend a member of the board, until a special membership meeting called for that purpose is held in accordance with the requirements of RCW 31.12.195. The membership meeting must be held within ninety days after the suspension. The members participating in that meeting shall vote whether to remove the suspended person or persons.

(2) 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 supervisory committee, threaten the safety and soundness of the credit union.

[ 2015 c 114 § 6; 1997 c 397 § 24; 1984 c 31 § 36.]

2015 c 114 § 6; 1997 c 397 § 24; 1984 c 31 § 36.