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2021 Idaho Code
Title 26 - BANKS AND BANKING
Chapter 21 - IDAHO CREDIT UNION ACT
Section 26-2121B - SUSPENSION OF MEMBERS OF THE BOARD BY SUPERVISORY COMMITTEE — FOR CAUSE.
Universal Citation: ID Code § 26-2121B (2021)
26-2121B. SUSPENSION OF MEMBERS OF THE BOARD BY SUPERVISORY COMMITTEE — FOR CAUSE. (1) The supervisory committee may, for cause, suspend a member of the board, until a special membership meeting called for that purpose is held in accordance with the requirements of section 26-2113B, Idaho Code. The members participating in that meeting shall vote whether to remove the suspended person or persons.
(2) For purposes of this section, "cause" means demonstrated financial irresponsibility, a breach of fiduciary duty to the credit union, or activities which, in the judgment of the supervisory committee, create a material risk to the credit union.
History:
[26-2121B, added 2018, ch. 165, sec. 18, p. 336.]
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