Idaho § 26-2157 AUTHORITY OF DIRECTOR TO CALL AND ATTEND SPECIAL MEETING OF THE BOARD

Idaho Statutes

§ 26-2157 — AUTHORITY OF DIRECTOR TO CALL AND ATTEND SPECIAL MEETING OF THE BOARD

Idaho·Title 26 BANKS AND BANKING·Ch. 21 IDAHO CREDIT UNION ACT

The director may require and attend a special meeting of the board of a credit union if an examination of the credit union results in a composite capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk (CAMELS) rating of "3," "4," or "5." The director’s request for a special board meeting must be made in writing to the chairman and the secretary of the board. On receipt of such a request, the secretary shall designate a time and place for the special board meeting, which shall be held within thirty (30) days after receipt of the request. The director may require the attendance of all of the directors at the special board meeting, and an absence unexcused by the director constitutes a violation of this chapter.

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The director may require and attend a special meeting of the board of a credit union if an examination of the credit union results in a composite capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk (CAMELS) rating of "3," "4," or "5." The director’s request for a special board meeting must be made in writing to the chairman and the secretary of the board. On receipt of such a request, the secretary shall designate a time and place for the special board meeting, which shall be held within thirty (30) days after receipt of the request. The director may require the attendance of all of the directors at the special board meeting, and an absence unexcused by the director constitutes a violation of this chapter.

Idaho § 26-2157 (AUTHORITY OF DIRECTOR TO CALL AND ATTEND SPECIAL MEETING OF THE BOARD) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.