(a) The administrator or any member of the Credit Union Board may be removed from office by a vote of two thirds of the members of the entire Credit Union Board for:
(1) neglect of duty;
(2) malfeasance;
(3) misfeasance;
(4) extortion or corruption in office;
(5) incompetency;
(6) intemperance in the use of intoxicating liquors or narcotics to such an extent, in view of the dignity of the office and the importance of its duties, as to render such person unfit for the discharge of his duties; or
(7) any offense involving moral turpitude while in office, committed under color thereof or connected therewith.
(b) The administrator may also be removed from office, without cause, upon written order of four appointed members of the Credit Union Board and the Governor.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Article 2 - Alabama Credit Union Administration.
Section 5-17-41 - Administrator - Appointment; Vacancy; Eligibility.
Section 5-17-42 - Administrator - Oath; Bond.
Section 5-17-43 - Official Seal; Use of Sealed Papers as Evidence; Recording.
Section 5-17-44 - Removal From Office of Administrator or Board Member.
Section 5-17-45 - Legislative Findings; Powers of Credit Unions; Agreements; Reports.
Section 5-17-48 - Annual Report; Public Distribution of Report and Other Material.
Section 5-17-49 - Violations to Be Submitted to Grand Jury.
Section 5-17-50 - Employment and Compensation of Necessary Personnel; Assistant Administrator.
Section 5-17-51 - Immunity From Personal Liability.
Section 5-17-52 - Oath and Duties of Examiner.
Section 5-17-54 - Bond of Alabama Credit Union Administration Employees.
Section 5-17-55 - Credit Union Board Created; Composition; Appeals.
Section 5-17-56 - Meetings; Executive Sessions; Confidential Information.
Section 5-17-58 - Compensation and Expenses of Board Members.
Section 5-17-59 - Applicability of Alabama Business Corporation Act.
Section 5-17-60 - Confidentiality of Conditions and Affairs of Credit Unions; Disclosures.