§ 301-a-20

301-A:20 Expulsion of Members. – Any member whose activity in the association is contrary to basic consumer cooperation principles or who endangers effective operation of the association may be expelled by the board of directors. Written notice of the charges against him and reasonable opportunity for a hearing shall be provided prior to any such expulsion. His shares shall be repurchased at par value or book value, whichever is lower, if and when there are sufficient reserve funds. He shall have the right of appeal at the next membership meeting and an opportunity to be heard in his own defense, either in person or by counsel. Source. 1983, 462:1, eff. July 1, 1983.