{"code":"FIN","codeName":"Financial Code","section":"14452.5","citation":"Fin. Code, § 14452.5","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 5. CREDIT UNIONS [14000. - 16906.]","url":"https://blackletter.si/financial-code/division-5"},{"name":"CHAPTER 4. Management and Operations [14400. - 14768.]","url":"https://blackletter.si/financial-code/division-5/chapter-4"},{"name":"ARTICLE 2. Directors [14450. - 14456.]","url":"https://blackletter.si/financial-code/division-5/chapter-4/article-2"}],"history":"Added by Stats. 1998, Ch. 539, Sec. 22.   Effective January 1, 1999.","effective":"1999-01-01","html":"<p>A vacancy on the board of directors shall be filled in accordance with Section <a href=\"/corp/7224\">7224</a> of the Corporations Code, subject to the following:</p><p>(a) A vacancy that exists due to the expiration of the term of a director shall be filled only by the members of a credit union.</p><p>(b) If the board of directors elects a director to fill a vacancy, the director so elected shall hold office only until the next annual meeting at which time the members shall elect a director to hold office until the expiration of the term for which elected.</p><p>(c) If the members elect a director to fill a vacancy, the director so elected shall hold office until the expiration of the term for which elected.</p>","text":"A vacancy on the board of directors shall be filled in accordance with Section 7224 of the Corporations Code, subject to the following: (a) A vacancy that exists due to the expiration of the term of a director shall be filled only by the members of a credit union. (b) If the board of directors elects a director to fill a vacancy, the director so elected shall hold office only until the next annual meeting at which time the members shall elect a director to hold office until the expiration of the term for which elected. (c) If the members elect a director to fill a vacancy, the director so elected shall hold office until the expiration of the term for which elected.","otherVersions":[],"url":"https://blackletter.si/financial-code/directors-14452-5","source":"California Legislative Information bulk export (pubinfo)"}