Minnesota § 52.11 - SUPERVISORY COMMITTEE; DUTIES
Full text of Minnesota Minnesota Statutes § 52.11 — SUPERVISORY COMMITTEE; DUTIES, with citation guidance and answers to common questions.
§ 52.11. SUPERVISORY COMMITTEE; DUTIES
The supervisory committee shall:
(1) make an examination of the affairs of the credit union at least semiannually, in June and December, including an audit of its books and, in the event the committee feels such action to be necessary, it shall call the members together thereafter and submit to them its report;
(2) make an annual report of its audits and submit the same at the annual meeting of the members; and
(3) by unanimous vote, if it deems such action to be necessary to the proper conduct of the credit union, suspend any officer, director, or member of committee, and call the members together to act on the suspension. The members at the meeting may, by majority vote of those present, sustain the suspension and remove an officer permanently, or may reinstate the officer.
By majority vote, the supervisory committee may call a special meeting of the members to consider any matter submitted to it by the committee. The committee shall fill vacancies in its own membership until successors are chosen and qualify at the next annual meeting.
History:
(7774-11) 1925 c 206 s 11; 1937 c 213 s 4
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 52.11
What does Minnesota Statutes § 52.11 cover?
Section 52.11 ("SUPERVISORY COMMITTEE; DUTIES") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 52.11?
A common citation format is "Minnesota Statutes § 52.11" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 52.11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.