California Statutes
§ 14452.5. — 14452.5. (Added by Stats. 1998, Ch. 539, Sec. 22.)
California·Code FIN Financial Code - FIN·Div. 5. DIVISION 5. CREDIT UNIONS·Ch. 4. CHAPTER 4. Management and Operations·Art. 2. ARTICLE 2. Directors
A vacancy on the board of directors shall be filled in accordance with Section 7224 of the Corporations Code, subject to the following:
(a)A vacancy that exists due to the expiration of the term of a director shall be filled only by the members of a credit union.
(b)If the board of directors elects a director to fill a vacancy, the director so elected shall hold office only until the next annual meeting at which time the members
shall elect a director to hold office until the expiration of the term for which elected.
(c)If the members elect a director to fill a vacancy, the director so elected shall hold office until the expiration of the term for which elected.
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California § 14452.5. (14452.5. (Added by Stats. 1998, Ch. 539, Sec. 22.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1998, Ch. 539, Sec. 22. Effective January 1, 1999.