I doubt that there are any provisions for “suspending” a board member. Either you are a member or you are not. I believe you must disqualify and remove the offending member from the Board; and then the Board should appoint a replacement to finish out the term of office.
Alternatively, if the bylaws permit the Board to be short a member, then the Board may wait until 30 days after the account is current and then appoint the individual to the Board. This may have changed in the new regulations, so double check this.