4:13-22 - Expulsion of members; removal of director or officer - New Jersey Statutes

4:13-22.  Expulsion of members;  removal of director or officer
    A member, director or officer who is also a director of the association may,  for cause, be expelled from membership or removed from office, by vote of not  less than   2/3   of the directors present and voting at any regular meeting or  at any special meeting of the board of directors called for the purpose.

    Under the terms and conditions prescribed in the bylaws, a member or stockholder member, as the case may be, may lose his membership and his right to vote if he ceases to belong to the class eligible for membership, or has done no business with an association for the previous fiscal year of the association.

    The person against whom charges are to be presented shall be given at least  20 days' written notice of the time, place and object of any such meeting, and  of the charges against him and at the meeting shall have an opportunity to be  heard in person or by counsel and by witnesses in regard thereto.

     Amended by L.1966, c. 286, s. 18;  L.1971, c. 324, s. 12, eff. Oct. 28, 1971.