{"code":"FIN","codeName":"Financial Code","section":"6152","citation":"Fin. Code, § 6152","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. SAVINGS ASSOCIATION LAW [5000. - 10009.]","url":"https://blackletter.si/financial-code/division-2"},{"name":"CHAPTER 3. Corporate Administration [6000. - 6477.]","url":"https://blackletter.si/financial-code/division-2/chapter-3"},{"name":"ARTICLE 4. Directors [6150. - 6157.]","url":"https://blackletter.si/financial-code/division-2/chapter-3/article-4"}],"history":"Amended by Stats. 2009, Ch. 500, Sec. 36.   (AB 1059)   Effective January 1, 2010.","effective":"2010-01-01","html":"<p>(a) A director shall automatically cease to be a director upon becoming the subject of an order for relief in bankruptcy or upon conviction of a criminal offense involving dishonesty or a breach of trust.</p><p>(b) In the case of an association which converts from a mutual association to a stock association, for a period of up to five years from the date of the conversion, a director may not otherwise be removed except for cause on the affirmative vote of a majority of the votes of members or stockholders eligible to be cast at a legal meeting.</p>","text":"(a) A director shall automatically cease to be a director upon becoming the subject of an order for relief in bankruptcy or upon conviction of a criminal offense involving dishonesty or a breach of trust. (b) In the case of an association which converts from a mutual association to a stock association, for a period of up to five years from the date of the conversion, a director may not otherwise be removed except for cause on the affirmative vote of a majority of the votes of members or stockholders eligible to be cast at a legal meeting.","otherVersions":[],"url":"https://blackletter.si/financial-code/directors-6152","source":"California Legislative Information bulk export (pubinfo)"}