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

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

(c)  The board of directors by a two-thirdsvote of those present at a meeting may suspend or remove any member of thesupervisory committee or of the credit committee for failure to perform dutiesin 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]