(205 ILCS 305/35) (from Ch. 17, par. 4436)
Sec. 35. Suspension and removal of officials.
(1) The supervisory committee,
by a unanimous vote of the whole committee, may suspend any member of the credit committee
or the credit manager if no credit committee has been
appointed. The supervisory committee shall report such action to
the board of directors for appropriate action.
(2) The supervisory committee, by a unanimous vote of the whole committee,
may suspend any officer or member of the board of directors until the next
members' meeting, which shall be held not less than 7 nor more than 21 days
after such suspension. At such meeting, the suspension shall be acted upon
by the members, who shall either confirm or reject it by majority vote.
(Source: P.A. 97-133, eff. 1-1-12.)
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