Oklahoma § 6-2012 - Expulsions and withdrawals
Full text of Oklahoma Oklahoma Statutes § 6-2012 — Expulsions and withdrawals, with citation guidance and answers to common questions.
§ 6-2012. Expulsions and withdrawals
(A) A member may be expelled by a two-thirds (2/3) vote of the
members present at the annual or a special meeting called to
consider the matter, but only after an opportunity has been given to
the member to be heard at said meeting. Any member may withdraw
from the credit union at any time but notice of withdrawal may be
required.
(B) The board of directors may expel a member pursuant to a
written policy adopted by it. All members shall be given written
notice of the terms of any such policy. Any person expelled by the
board shall have the right to request a hearing before it to
reconsider the expulsion.
(C) All amounts paid on shares and deposits on an expelled or
withdrawing member shall, as funds become available and after
deducting all amounts due from the member to the credit union, be
paid to him. Withdrawing or expelled members shall have no further
rights in the credit union but are not, by such expulsion or
withdrawal, released from any remaining liability to the credit
union.
Added by Laws 1941, p. 15, § 12. Amended by Laws 1965, c. 496, § 8;
Laws 1992, c. 90, § 10, eff. July 1, 1992.
Frequently Asked Questions About Oklahoma § 6-2012
What does Oklahoma Statutes § 6-2012 cover?
Section 6-2012 ("Expulsions and withdrawals") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. 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 Oklahoma § 6-2012?
A common citation format is "Oklahoma Statutes § 6-2012" (Oklahoma). 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 Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 6-2012 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma 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 Oklahoma.