(2) The board may remove any member of the supervisory committee for failing to perform duties prescribed in this chapter or in the credit union’s articles of incorporation, bylaws or policies.
(3) A person may not serve as a director if the person has defaulted on payment of a voluntary obligation to the credit union or has otherwise caused the credit union to incur a financial loss. [1975 c.652 §40; 1985 c.762 §96; 1999 c.185 §16; 2005 c.95 §8; 2013 c.480 §5]