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§ 705. Expulsion, suspension and withdrawal

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 17 Pa.C.S.A. Credit UnionsEffective: August 18, 2014

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 17 Pa.C.S.A. Credit Unions (Refs & Annos)
Chapter 7. Members, Directors and Officers
Effective: August 18, 2014
17 Pa.C.S.A. § 705
§ 705. Expulsion, suspension and withdrawal
(a) Expulsion.--Unless otherwise provided in the credit union's bylaws:
(1) The board of directors may expel a member for cause by a majority vote of a quorum of directors pursuant to a written policy adopted by the board. For the purposes of this subsection, “cause” includes a loss to the credit union, a violation of the membership agreement or any policy or procedure adopted by the board or inappropriate behavior, such as physical or verbal abuse of credit union members or staff. All members shall be given written notice of such policies. Any person expelled by the board shall have the right to request a hearing before the board to reconsider the expulsion.
(2) A credit union may terminate the membership of any member who withdraws the member's shares to less than one share.
(3) Persons whose membership has been terminated, whether by withdrawal or expulsion, shall have no further rights in the credit union, but are not released from any obligation owed to the credit union.
(4) A member who has been expelled, as provided by this subsection, may not be readmitted to membership except upon approval by a majority vote of the board after application and proof that the applicant remains within the credit union's field of membership, has adequately explained, addressed or remedied the conditions leading to expulsion and will abide by the terms and conditions of membership. Not more than one such application for readmission may be made within any 12-month calendar period.
(a.1) Suspension.--Unless otherwise provided in the credit union's bylaws, a credit union may, for cause, suspend certain services to a credit union member under a policy adopted by the credit union's board of directors. Members with suspended services may maintain a share account and continue to vote at annual and special meetings.
(b) Withdrawal.--Any member may withdraw from the credit union at any time, but notice of withdrawal may be required.

Credits

1990, Dec. 19, P.L. 834, No. 198, § 302, effective in two months. Amended 2014, June 18, P.L. 754, No. 62, § 2, effective in 60 days [Aug. 18, 2014].
17 Pa.C.S.A. § 705, PA ST 17 Pa.C.S.A. § 705
Current through 2022 Regular Session Act 96. Some statute sections may be more current, see credits for details.
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