TITLE 26

BANKS AND BANKING

CHAPTER 21

IDAHO CREDIT UNION ACT

26-2121B.  SUSPENSION OF MEMBERS OF THE BOARD BY SUPERVISORY COMMITTEE — FOR CAUSE. (1) The supervisory committee may, for cause, suspend a member of the board, until a special membership meeting called for that purpose is held in accordance with the requirements of section 26-2113B, Idaho Code. The members participating in that meeting shall vote whether to remove the suspended person or persons.

(2)  For purposes of this section, "cause" means demonstrated financial irresponsibility, a breach of fiduciary duty to the credit union, or activities which, in the judgment of the supervisory committee, create a material risk to the credit union.

History:

[26-2121B, added 2018, ch. 165, sec. 18, p. 336.]