§ 6-06-15 — Duties and powers of supervisory committee

North Dakota § 6-06-15

• Jurisdiction: North Dakota
• Title 6: Banks and Banking
• Ch. 6-06: Credit Unions

Text

The supervisory committee, by a majority vote, may call a special meeting of the members
of the credit union to consider any matter which it wishes to submit to the membership. The
supervisory committee shall:
1. Fill vacancies in the committee's own membership.

2. Make an examination of the affairs of the credit union, including an audit of the credit
union's books, at least annually, and the committee may submit such report to the
members of the credit union at a meeting called for that purpose by the committee
whenever the committee deems such action necessary.
3. Make an annual audit and report and submit the audit and report at the annual
meeting of the credit union.
4. Suspend any officer, director, or member of any committee when by unanimous, not
including the person who is being considered for suspension, vote of the committee,
such action is determined to be necessary to the proper conduct of the credit union,
but upon taking such action, the committee shall call the members of the credit union
together immediately to act on the suspension, and the members at the meeting may
sustain the suspension and remove the officer permanently or may reinstate the
officer, director, or committee member.
5. The commissioner may reject a supervisory committee examination or audit if the
examination or audit is determined to be unsatisfactory.
If the bylaws do not provide for the election or appointment of a supervisory committee, the
duties and powers described above are the responsibility of and delegated to the board of
directors.