Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
§ 6.542 — Arizona Law | CourtGPT
  1. Home/
  2. Laws/
  3. Arizona/
  4. Title 6 - Banks and Financial Institutions§ 6-101 - Definitions/
  5. Chapter 5/
  6. § 6.542
Arizona Legal Code

§ 6.542

Ask AI about this
6-542. Suspension and removal of officials Unless the bylaws provide otherwise, a director, officer or member of a committee may be removed as follows: 1. Either the supervisory committee or the board may suspend for cause by a majority vote of their entire membership any director, officer or member of a committee and shall immediately notify such person in writing of the suspension and the reasons for the suspension. 2. A suspended director, officer or committee member may request a special meeting of the members to consider that suspension within ten days after the date the director, officer or committee member was notified of the suspension. The board shall call a special meeting for that purpose not fewer than seven days or more than thirty days after receiving the request for a meeting, and that suspension shall be upheld or overturned by a majority of the members present. The suspended person is entitled to appear and be heard at the special meeting. 3. In the absence of a request for a hearing within ten days after the date the director, officer or committee member was notified of the suspension, the suspension is deemed a removal from office.

. 3. In the absence of a request for a hearing within ten days after the date the director, officer or committee member was notified of the suspension, the suspension is deemed a removal from office. If a hearing is requested, approval of the suspension by the membership constitutes removal from office. 4. Notwithstanding any other provision of this section, the members of a credit union may suspend or remove any director or committee member at any annual or special meeting of the members.