Section 491.824 - Liquidating agent or committee; removal; appointment of new agent or members.
SAVINGS AND LOAN ACT OF 1980 (EXCERPT)
Act 307 of 1980
491.824 Liquidating agent or committee; removal; appointment of new agent or members.
Sec. 824.
At a meeting called at any time in the same manner as if the association continued as an active association, the members by vote representing a majority of the outstanding voting units of the association, subject to approval by the supervisor, may remove the liquidating agent or committee and appoint a new agent or new members of the committee.
History: 1980, Act 307, Eff. Jan. 1, 1981