705 - Expulsion and withdrawal. - Pennsylvania Statutes

§ 705. Expulsion and withdrawal. (a) Expulsion.--A member may be expelled: (1) by a vote of a majority of the members present at a regular or a special meeting called to consider the matter at which a quorum, as provided in the bylaws, is present but only after a hearing after due notice to the member of the time and place of the meeting and of the reason or reasons for such proposed expulsion; or (2) by a vote of a two-thirds majority of the board of directors present at a regular or special meeting called to consider the matter if: (i) the board has given the member notice of the meeting and of the reason for proposed expulsion; (ii) there is a quorum, as provided in the bylaws, present at the meeting; and (iii) there is a hearing on the matter at the meeting. (b) Withdrawal.--Any member may withdraw from the credit union at any time, but notice of withdrawal may be required.