West Virginia Statutes
§ 31C-4-5 — Liability and expulsion of members
West Virginia § 31C-4-5
This text of West Virginia § 31C-4-5 (Liability and expulsion of members) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
W. Va. Code § 31C-4-5 (2026).
Text
(a)The members of the credit union shall not be personally or individually liable for the payment of its debts solely by virtue of holding membership.
(b)Any member may be expelled by a two-thirds vote of its members present at any regular meeting or a special meeting called to consider the matter, but only after an opportunity has been given the member to be heard.
(c)The credit union's board of directors may expel a member pursuant to a written policy adopted by it. All members shall be given written notice of the terms of any such policy upon becoming a member. Any person expelled by the credit union's board of directors shall have the right to request a hearing before it to reconsider the expulsion.
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Legislative History
1996 Reg. Sess., HB4527
Nearby Sections
15
§ 31C-1-1
Definitions§ 31C-1-3
Powers of commissioner§ 31C-1-4
Suspension; involuntary liquidation§ 31C-1-5
Examinations§ 31C-1-6
Records§ 31C-1-7
Reports§ 31C-1-8
Assessments§ 31C-10-1
Voluntary liquidation§ 31C-10-2
Merger of credit unions§ 31C-10-3
Conversion§ 31C-11-1
Incorporation§ 31C-11-10
Reserves§ 31C-11-11
Annual audit§ 31C-11-12
Securities exemptionCite This Page — Counsel Stack
Bluebook (online)
West Virginia § 31C-4-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/wv/31C/31C-4-5.