§ 6152. — 6152. (Amended by Stats. 2009, Ch. 500, Sec. 36.)

California § 6152.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 2.: DIVISION 2. SAVINGS ASSOCIATION LAW
• Ch. 3.: CHAPTER 3. Corporate Administration
• Art. 4.: ARTICLE 4. Directors

Text

(a)
A director shall automatically cease to be a director upon becoming the subject of an order for relief in bankruptcy or upon conviction of a criminal offense involving dishonesty or a breach of trust.
(b)
In the case of an association which converts from a mutual association to a stock association, for a period of up to five years from
the date of the conversion, a director may not otherwise be removed except for cause on the affirmative vote of a majority of the votes of members or stockholders eligible to be cast at a legal meeting.

Legislative History

Amended by Stats. 2009, Ch. 500, Sec. 36. (AB 1059) Effective January 1, 2010.