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C-4.1 - Savings and Credit Unions Act

Section 160
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160. Ad hoc committees shall exercise their powers and functions under the direction of the board of directors and shall report their findings and submit their recommendations to the board.
1988, c. 64, s. 160; 1996, c. 69, s. 43.
160. In the event of vacancy, the members of the credit committee may appoint a replacement for the unexpired portion of the term of office. If they fail to do so before the next general meeting, the general meeting may fill the vacancy.
If, due to vacancies, a quorum cannot be reached, a member of the credit committee, a director, two members of the credit union or 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 vacancies.
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.
1988, c. 64, s. 160.
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