§412:10-120  Suspension or removal of
officials.  (a)  The supervisory committee by a two-thirds vote of the
entire committee may suspend any member of the credit committee or the credit
manager and shall report such action to the board of directors.  The board
shall meet not less than seven nor more than twenty-one days after such
suspension to take appropriate action.  The suspended person shall have the
right to appear and be heard at the meeting.



(b)  The supervisory committee by a two-thirds
vote of the entire committee may suspend any officer or any member of the board
of directors until the next members' meeting, which shall be held not less than
seven nor more than twenty-one days after such suspension.  At such meeting the
suspended person shall have the right to appear and be heard.  The suspension
shall be acted upon by the members and the person shall be removed for cause
from or restored to office.



(c)  The board of directors by a two-thirds
vote of those present at a meeting may suspend or remove any member of the
supervisory committee or of the credit committee for failure to perform duties
in accordance with this chapter, the articles of association, or the bylaws. 
The committee member shall have the right to appear and be heard at such meeting.
[L 1993, c 350, pt of §1]