15051. 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.)
California Legal Code
§ 15051
Source: https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=FIN&division=5.&title=&part=&chapter=7.&article=3.· Version 2026