The board may, for cause, suspend a member of the board or a member of the supervisory committee until a special membership meeting, called for that purpose, is held under RCW 31.12.195. The membership meeting must be held within ninety days after the suspension. The members attending the meeting shall vote whether to remove a suspended party. For purposes of this section, "cause" includes demonstrated financial irresponsibility, a breach of fiduciary duty to the credit union, or activities which, in the judgment of the board, threaten the safety and soundness of the credit union.
RCW 31.12.285
Suspension of members of board or supervisory committee by board—For cause.
Known as the Washington State Credit Union Act
The act spans §§ 31–31 (99 sections).
Applied in 3 court decisions — leading case 88 Wash. App. 939 - Galbraith v. Tapco Credit Union (1997)
Most recently applied in SAVE COLUMBIA CU COMMITTEE v. Columbia (May 2009)
2015 c 114 s 4; 2013 c 34 s 5; 1997 c 397 s 21; 1984 c 31 s 30.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.