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C-4.1 - Savings and Credit Unions Act
Section 140
Disposition versions
140. Where the number of directors remaining in office does not constitute a quorum, a director, two members of the credit union, a member of the board of audit and ethics or the board of directors of the federation with which the credit union is affiliated may order the secretary of the credit union to call a special meeting to fill the vacancy.
If the secretary fails to act, the meeting may be called by the persons who ordered the holding of the meeting. Unless the members object thereto by resolution at the meeting, the credit union shall reimburse those who called the meeting for reasonable expenses incurred by them to hold the meeting.
140. Where the number of directors remaining in office does not constitute a quorum, a director, two members of the credit union, a member of the board of supervision or the board of directors of the federation with which the credit union is affiliated may order the secretary of the credit union to call a special meeting to fill the vacancy.
If the secretary fails to act, the meeting may be called by the persons who ordered the holding of the meeting. Unless the members object thereto by resolution at the meeting, the credit union shall reimburse those who called the meeting for reasonable expenses incurred by them to hold the meeting.
