Sec. 14. (a) The auditor of state may at any time, by an order under the seal of the auditor of state, for due cause stated in the order, suspend a trustee from the board.
(b) Upon the application of two-thirds (2/3) of the trustees of a savings bank setting forth good reasons for the action in regard to a trustee, the auditor of state shall issue the order.
(c) Upon issuing an order under this section, the auditor of state shall send a copy of the order to each of the following:
(1) The savings bank. The order shall be entered in full in the minutes of the savings bank.
(2) To the suspended trustee. Upon request of the trustee, the auditor of state shall send the original order to the trustee.
(3) To the judge of the court.
(d) The judge of the court, after giving proper notice to the trustee and an opportunity for the trustee to be heard in the trustee's defense, may vacate or confirm the order. Confirmation of an order under this subsection operates to remove the trustee from office.
As added by P.L.42-1993, SEC.72.
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