§ 14552 Suspension Notice And Meeting

Financial Code·California

AI SummaryVerified

This law requires that a special meeting be called within seven days after any member of the credit committee, board of directors, or other officer is suspended, so the remaining members can decide what actions to take.

Key Takeaways

•A special meeting must be called within seven days of a suspension.
•All members are notified to discuss the suspension.
•The members decide what actions to take regarding the suspension.

Example

A credit union suspends one of its board members due to misconduct.

The supervisory committee must notify all members that a special meeting will be held within seven days to decide how to proceed with the suspension and any other necessary steps.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 14552 Suspension Notice And Meeting

The supervisory committee shall, within seven days after suspension of any or all members of the credit committee, or any member of the board of directors, or any other officer, cause notice of a special meeting to be given to the members to take such action regarding the suspension as the members deem necessary. (Amended by Stats. 1985, Ch. 951, Sec. 9.)

Last verified: January 11, 2026

Key Terms

supervisory committee credit committee board of directors special meeting suspension

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14552.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References