Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-542. Suspension and removal of officials

1. Either the supervisory committee or the board may suspend for cause by a majority vote of their entire membership any director, officer or member of a committee and shall immediately notify such person in writing of the suspension and the reasons for the suspension.

2. A suspended director, officer or committee member may request a special meeting of the members to consider that suspension within ten days after the date the director, officer or committee member was notified of the suspension. The board shall call a special meeting for that purpose not fewer than seven days or more than thirty days after receiving the request for a meeting, and that suspension shall be upheld or overturned by a majority of the members present. The suspended person is entitled to appear and be heard at the special meeting.

3. In the absence of a request for a hearing within ten days after the date the director, officer or committee member was notified of the suspension, the suspension is deemed a removal from office. If a hearing is requested, approval of the suspension by the membership constitutes removal from office.

4. Notwithstanding any other provision of this section, the members of a credit union may suspend or remove any director or committee member at any annual or special meeting of the members.