District of Columbia § 26-504.07 Termination of membership.

District of Columbia Statutes

§ 26-504.07 — Termination of membership.

District of Columbia § 26-504.07

JurisdictionDistrict of Columbia

Title 26Banks and Other Financial Institutions.

Ch. 5Credit Unions.

Subch. ICredit Union Act of 2020.

Part DCredit Union Membership.

This text of District of Columbia § 26-504.07 (Termination of membership.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-504.07 (2026).

Text

(1)For the purposes of this section, the term "cause" includes a loss to the District credit union, a violation of the membership agreement or any policy or procedure adopted by the board, or inappropriate behavior such as physical or verbal abuse of a District credit union member or staff.

(2)All members shall be given written notice of all policies and procedures that have been adopted by the board.

(b)The board of directors may expel a member for cause by a majority vote of a quorum of the board of directors, pursuant to a written policy adopted by the board. A person expelled by the board shall have the right to request a hearing before the board to reconsider the expulsion.

(c)Consistent with § 26-504.01(d) , a District credit union may terminate the membership of any membe

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(1) For the purposes of this section, the term "cause" includes a loss to the District credit union, a violation of the membership agreement or any policy or procedure adopted by the board, or inappropriate behavior such as physical or verbal abuse of a District credit union member or staff.

(2) All members shall be given written notice of all policies and procedures that have been adopted by the board.

(b) The board of directors may expel a member for cause by a majority vote of a quorum of the board of directors, pursuant to a written policy adopted by the board. A person expelled by the board shall have the right to request a hearing before the board to reconsider the expulsion.

(c) Consistent with § 26-504.01(d) , a District credit union may terminate the membership of any member who withdraws his or her shares to less than one par share.

(d) A person whose membership has been terminated, whether by withdrawal or expulsion, shall have no further rights in the District credit union but is not released from any obligation owed to the District credit union.

(e) A person who has been expelled as provided by this subchapter may not be readmitted to membership except upon approval by a majority vote of the board after application and proof that the expelled person remains within the District credit union's field of membership, has adequately explained, addressed, or remedied the conditions leading to expulsion, and will abide by the terms and conditions of membership. Only one application for readmission may be submitted within a 12-month calendar period.