§ 7-8-24 - Expulsion of members.
SECTION 7-8-24
§ 7-8-24 Expulsion of members. – The bylaws may make provision for the expulsion of members by a two-thirds (2/3) vote of the members present at a regular or special meeting. The bylawsshall provide for the giving to a member of written notice of the chargesagainst him or her at least three (3) weeks in advance of the meeting. Themember shall have opportunity to be heard in person, or by counsel, at themeeting. On decision of the association to expel a member, the board ofdirectors shall purchase the member's holdings at par value, when there aresufficient reserve funds.