(a) The board of directors may suspend any member of the District credit union's board of directors for cause, as defined in § 26-504.07, by a 2/3 vote of a quorum of the board. The board member shall be suspended until the next members' meeting, which shall be held no fewer than 7 days and not more than 60 days after the suspension. The suspended board member shall be notified of the details of the member's suspension and shall have a right to request a hearing before the board to reconsider the suspension prior to the next membership meeting.
(b) Any suspended board member may be removed by a majority vote of a quorum of members at a properly called membership meeting. The suspended board member shall be notified of the details of the board member's removal. At the membership meeting, the suspended board member shall have the right to appear and be heard. The suspension shall be acted upon by the members and the suspended board member shall be removed from or restored to office.
(c) The board of directors may, by a 2/3 vote of a quorum of the board, suspend or remove any officer from his or her office for cause, as defined in § 26-504.07. The officer affected will be notified of the suspension or removal and shall have the right to request a hearing before the board of directors for reconsideration of the board's decision.
(May 6, 2020, D.C. Law 23-86, § 511, 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