Washington Code 31.12.246 – Removal of directors and supervisory committee members — Interim directors and supervisory committee members
Current as of: 2023 | Check for updates
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(1) The members of a credit union may remove a director of the credit union at a special membership meeting held in accordance with RCW 31.12.195 and called for that purpose. If the members remove a director, the members may at the same special membership meeting elect an interim director to complete the remainder of the former director’s term of office or authorize the board to appoint an interim director as provided in RCW 31.12.225.
Terms Used In Washington Code 31.12.246
- Board: means the board of directors of a credit union. See Washington Code 31.12.005
- Credit union: means a credit union organized and operating under this chapter. See Washington Code 31.12.005
- Director: means the director of financial institutions. See Washington Code 31.12.005
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(2) The members of a credit union may remove a supervisory committee member at a special membership meeting held in accordance with RCW 31.12.195 and called for that purpose. If the members remove a supervisory committee member, the members may at the same special membership meeting elect an interim supervisory committee member to complete the remainder of the former supervisory committee member’s term of office or authorize the supervisory committee to appoint an interim supervisory committee member as provided in RCW 31.12.326.