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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - California Code, Financial Code - FIN § 6152 - last updated January 01, 2025 | https://codes.findlaw.com/ca/financial-code/fin-sect-6152/
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