Statute · California Financial Code
Cal. Fin. Code § 14452.5 — Directors
Cal. Fin. Code § 14452.5
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 1999-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A vacancy on the board of directors shall be filled in accordance with Section 7224 of the Corporations Code, subject to the following:
Citator
Cal. Fin. Code § 14452.5 — Directors is in force in the current edition of the Code, and nothing recorded condemns it.
A vacancy on the board of directors shall be filled in accordance with Section 7224 of the Corporations Code, subject to the following:
(a) A vacancy that exists due to the expiration of the term of a director shall be filled only by the members of a credit union.
(b) If the board of directors elects a director to fill a vacancy, the director so elected shall hold office only until the next annual meeting at which time the members shall elect a director to hold office until the expiration of the term for which elected.
(c) If the members elect a director to fill a vacancy, the director so elected shall hold office until the expiration of the term for which elected.