2011 Vermont Code
Title 08 Banking and Insurance
Chapter 221 ORGANIZATION AND MANAGEMENT OF CREDIT UNION
§ 31312 Vacancies
§ 31312. Vacancies
A vacancy on the governing body, the supervisory committee, or any other governing-body-appointed or member-elected committee that exists due to the death, resignation, or removal of a director or committee member shall be filled by majority vote of the remaining directors, regardless of whether the remaining directors constitute a quorum. A director or committee member appointed by the governing body to fill a vacancy on a committee where the members elect the members of such committee shall hold office until the next annual meeting, at which time the members of the credit union shall vote to fill the remainder of the unexpired term. (Added 2005, No. 16, { 1, eff. July 1, 2005.)
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