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C-4.1 - Savings and Credit Unions Act

Section 179
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Full text
179. The board of audit and ethics may suspend any employee or officer of the credit union or request that the federation with which the credit union is affiliated intervene to that effect. Before rendering its decision, the board shall serve on the person concerned a prior notice of not less than three clear days mentioning the grounds which justify such decision, the date on which it will become effective and the possibility of presenting observations. Where the board is of the opinion that any delay could seriously compromise the interests of the members of the credit union, it may render its decision without giving the person advance notice or an opportunity to present observations.
Within five days following the suspension, the board shall notify, in writing, the board of directors and the federation with which the credit union is affiliated and the confederation with which the federation is affiliated, where that is the case as well as the Inspector General in the case of the suspension of an officer.
1988, c. 64, s. 179; 1996, c. 69, s. 53, s. 180, s. 181.
179. The board of supervision may suspend any employee of the credit union or any member of the credit committee. Before rendering its decision, the board shall serve on the person concerned a prior notice of not less than three clear days mentioning the grounds which justify such decision, the date on which it will become effective and the possibility of being heard. Where the board of supervision is of the opinion that any delay could seriously compromise the interests of the members of the credit union, it may render its decision without giving the person advance notice or an opportunity to be heard.
Within five days following the suspension, the board of supervision shall notify, in writing, the board of directors and the federation with which the credit union is affiliated and the confederation with which the federation is affiliated, where that is the case.
1988, c. 64, s. 179.
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