(a) A seat on a District credit union's board of directors or on one of the District credit union's committees will be considered vacant if a board or committee member:
(1) Resigns from his or her position on the board or committee;
(2) Is removed from the board or committee;
(3) Is unable to carry out his or her duties as a board or committee member; or
(4) Is made ineligible by operation of law.
(b) The board of directors shall fill any vacancies occurring on the board or on any board-appointed committee from among the District credit union's natural person members.
(May 6, 2020, D.C. Law 23-86, § 504, 67 DCR 3476.)
Structure District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Subchapter I - Credit Union Act of 2020
Part E - Credit Union Governance
§ 26–505.01. Authority and duty of a board of directors
§ 26–505.02. Election of a board of directors
§ 26–505.03. Appointment of committees
§ 26–505.05. Compensation of officials
§ 26–505.06. Limited liability of directors and officers
§ 26–505.07. Conflicts of interest