Section 8
SEC. 8. Section thirty-four of Act Numbered Twenty-five hundred and eight is hereby amended to read as follows: "SEC. 34. Any director of the association may be removed for cause from office by the stockholders' general assembly, and by the vote of at least two-thirds of all members present at a regular meeting, or a special meeting called for the purpose, upon notification in the latter case to the stock-holders of the intention to propose such removal at such meeting: Provided, however, That the removal of any director from office shall not be effective until after all the proceedings of such removal have been forwarded to the Director of Commerce for review, and the decision of the general assembly of stockholders has been confirmed by the said Director of Commerce. The records of such proceedings shall be forwarded to the Director of Commerce within fifteen days from the date the decision is rendered, and the Director of Commerce may, if the case so warrants, order a reinvestigation of the case, confirm the decision or revoke the same. In case of failure of the stockholders to remove any director found guilty, the Director of Commerce is authorized to remove the said director."