2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 248 - Removal and Forfeiture of Office of Trustee.

§ 248.  Removal  and forfeiture of office of trustee. 1.  Whenever the
conduct and habits of a trustee  are  of  such  a  character  as  to  be
injurious to the savings bank, or a trustee has been guilty of acts that
are  detrimental or hostile to the interests of the savings bank, he may
be removed from office at any regular meeting of the  trustees,  by  the
affirmative  vote  of  three-fourths  of  all  the  trustees;  provided,
however, that a written copy of the charges made against him shall  have
been  served upon him personally at least two weeks before such meeting,
that the vote of such trustees shall be entered in  the  record  of  the
minutes of such meeting, and that such removal shall receive the written
approval  of  the superintendent, which shall be attached to the minutes
of such meeting and form a part of the record.
2. The office of a trustee of  a  savings  bank  shall  become  vacant
whenever he
(a)  Shall  fail  to comply with any of the provisions of this article
relating to his official oath and declaration.
(b) Shall become disqualified for any of the reasons specified in this
article.
(c) Shall have failed to attend the regular meetings of the  board  of
trustees and also of any committee of the board of which he is a member,
for  a  period of six successive months, unless excused by the board for
such failure by resolution  adopted  at  the  first  or  second  regular
meeting  of  the  board  after  expiration of such six months period and
entered upon its minutes; provided, however,  that  a  trustee  who  has
forfeited  or  vacated  his  office  by reason of such failure to attend
meetings shall not be eligible for re-election until the  expiration  of
one  year  from  the  date  of the first regular meeting of the board at
which a resolution could have been adopted by it, as herein provided, to
excuse such failure. A copy of such resolution shall be  transmitted  to
the  superintendent  by  the  savings  bank  within  five days after its
adoption.
(d) Shall violate any of  the  provisions  of  this  article  imposing
restrictions upon trustees and officers.
(e)  Shall  reach  the mandatory retirement age, if any, prescribed in
the by-laws of the savings bank.
3. A trustee who has forfeited or vacated  his  office  shall  not  be
eligible for re-election, except when the forfeiture or vacancy occurred
solely by reason of his
(a)  Failure to comply with the provisions of this article relating to
his official oath and declaration; or
(b) Failure to attend the regular meetings of the board of trustees or
neglect of his  official  duties  as  prescribed  in  paragraph  (c)  of
subdivision two of this section; or
(c)  Disqualification  through  becoming a non-resident, or becoming a
trustee, officer or employee of another  savings  bank,  or  becoming  a
director or trustee of a bank, trust company, national bank, mortgage or
title company and such disqualification shall have been removed.
(d)  Resignation  while free of any of the disqualifications specified
in this article.