89-0201 / February 1989
Nonstandard Bylaw Amendment
FROM: Deputy General Counsel James J. Engel
SUBJECT: Nonstandard Bylaw Amendment - [redacted]
DATE: February 1, 1989
We have no objection to the FCU's requested nonstandard bylaw amendment that would:
- permit declaring a director's position vacant for failure of the director to attend three board meetings within a period of twelve consecutive months; and
- permit declaring a credit committee member's position vacant for failure of a member to attend three consecutive weekly meetings or six such meetings in any calendar year.