§ 14551. — 14551. (Amended by Stats. 1996, Ch. 330, Sec. 1.)

California § 14551.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 5.: DIVISION 5. CREDIT UNIONS
• Ch. 4.: CHAPTER 4. Management and Operations
• Art. 4.: ARTICLE 4. Supervisory Committee

Text

The supervisory committee may:
(a)
Suspend at any time by unanimous vote, at a meeting called for that purpose, the credit committee, or any member thereof, or the credit manager, or any member of the board of directors, or any officer.
(b)
By a majority vote call a meeting of the members to consider any violation of this division or the bylaws, or any practices of the credit union which, in the opinion of the committee, are unsafe
or unauthorized.
(c)
Inspect the securities, cash, and accounts of the credit union.
(d)
Fill vacancies in the supervisory committee until the next annual meeting of the members.
(e)
Declare vacant any office of a member of the supervisory committee if such member is absent from three consecutive regular meetings of the supervisory committee unless excused therefrom or is completely inactive as a member of the supervisory committee for a consecutive 12 months’ period.

Legislative History

Amended by Stats. 1996, Ch. 330, Sec. 1. Effective January 1, 1997.