Nonstandard Bylaw Amendment

89-0201 / February 1989
Nonstandard Bylaw Amendment

SSIC 6150/#395


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:

  1. 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
  2. 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.


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