Ca_Law

statute | California

Financial Code - FIN - FIN § 6152

  • UIDca_leginfo_codes:fin-6152
  • CitationFinancial Code - FIN - FIN § 6152
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

(a) A director shall automatically cease to be a director upon becoming the subject of an order for relief in bankruptcy or upon conviction of a criminal offense involving dishonesty or a breach of trust. (b) In the case of an association which converts from a mutual association

Text

(a)
A director shall automatically cease to be a director upon becoming the subject of an order for relief in bankruptcy or upon conviction of a criminal offense involving dishonesty or a breach of trust.
(b)
In the case of an association which converts from a mutual association to a stock association, for a period of up to five years from
the date of the conversion, a director may not otherwise be removed except for cause on the affirmative vote of a majority of the votes of members or stockholders eligible to be cast at a legal meeting.

Retrieval chunks

  • #1 | Financial Code - FIN - FIN § 6152

    (a) A director shall automatically cease to be a director upon becoming the subject of an order for relief in bankruptcy or upon conviction of a criminal offense involving dishonesty or a breach of trust. (b) In the case of an association which converts from a mutual association to a stock association, for a period…