§ 15051 Credit Union Officer Removal

This law lets the board remove a director, officer, committee member, or credit manager from their job if they don't pay back money they owe to the credit union on time.

Key Takeaways

•The board can fire someone from their role if they don't pay obligations to the credit union on time.
•The rule applies to directors, officers, committee members, and credit managers.
•The removal happens when the person fails to meet the payment terms of their obligation.

Example

A credit union employee owes a loan to the credit union but keeps missing the payment deadlines.

Because the employee isn't paying back the loan as required, the board can declare their position vacant and remove them from the job.

The board of directors shall declare the office of any director, officer, committee member, or the credit manager vacant if the person fails to reduce any obligation to the credit union for which he or she is liable in a timely manner according to the terms of the obligation. (Amended by Stats. 1984, Ch. 789, Sec. 16.)

This law lets the board remove a director, officer, committee member, or credit manager from their job if they don't pay back money they owe to the credit union on time.

Key Takeaways

•The board can fire someone from their role if they don't pay obligations to the credit union on time.
•The rule applies to directors, officers, committee members, and credit managers.
•The removal happens when the person fails to meet the payment terms of their obligation.

Example

A credit union employee owes a loan to the credit union but keeps missing the payment deadlines.

Because the employee isn't paying back the loan as required, the board can declare their position vacant and remove them from the job.

Key Takeaways

Example

Key Terms

References

§ 15051 Credit Union Officer Removal

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References