12 U.S.C. § 1761d — Supervisory committee; powers and duties; suspension of members; passbook

The supervisory committee must make or cause to be made an annual audit and must submit a report of that audit to the board^* of directors and a summary of the report to the members at the next annual meeting of the credit^* union; must make or cause to be made that supplementary audits as it deems necessary or as can be ordered by the Board, and submit reports of the supplementary audits to the board of directors; can by a unanimous vote suspend any officer of the credit union or any member of the credit committee or of the board of directors, until the next members’ meeting, which must be held not less than seven or more than fourteen days after any that suspension, at which meeting any that suspension must be acted upon by the members; and can call by a majority vote a special meeting of the members to consider any violations of this chapter, the charter, or the bylaws, or any practice of the credit union deemed by the supervisory committee to be unsafe or unauthorized. Any member of the supervisory committee can be suspended by a majority vote of the board of directors. The members must decide, at a meeting held not less than seven nor more than fourteen days after any that suspension, whether the suspended committee member must be removed from or restored to the supervisory committee. The supervisory committee must cause the passbooks and accounts of the members to be verified with the records of the treasurer from time to time, and not less frequently than once every two years. As used in this section, the term “passbook” must include any book, statement of account^*, or other record approved by the Board for use by Federal credit unions.

A quoted term that this section does not define keeps its quoted meaning; this section does not define it.