Yum fails with traceback and final error: TypeError: __init__() got an unexpected keyword argument 'timeout'

Issue

• error when registering or updating client:

# yum update
Loaded plugins: product-id, rhnplugin, security, subscription-manager
Updating Red Hat repositories.
Traceback (most recent call last):
  File "/usr/bin/yum", line 29, in ?
    yummain.user_main(sys.argv[1:], exit_code=True)
  File "/usr/share/yum-cli/yummain.py", line 309, in user_main
    errcode = main(args)
  File "/usr/share/yum-cli/yummain.py", line 157, in main
    base.getOptionsConfig(args)
  File "/usr/share/yum-cli/cli.py", line 187, in getOptionsConfig
    self.conf
  File "/usr/lib/python2.4/site-packages/yum/__init__.py", line 665, in <lambda>
    conf = property(fget=lambda self: self._getConfig(),
  File "/usr/lib/python2.4/site-packages/yum/__init__.py", line 254, in _getConfig
    self.plugins.run('init')
  File "/usr/lib/python2.4/site-packages/yum/plugins.py", line 179, in run
    func(conduitcls(self, self.base, conf, **kwargs))
  File "/usr/lib/yum-plugins/rhnplugin.py", line 121, in init_hook
    login_info = up2dateAuth.getLoginInfo()
  File "/usr/share/rhn/up2date_client/up2dateAuth.py", line 219, in getLoginInfo
    login(timeout=timeout)
  File "/usr/share/rhn/up2date_client/up2dateAuth.py", line 170, in login
    server = rhnserver.RhnServer(timeout=timeout)
  File "/usr/share/rhn/up2date_client/rhnserver.py", line 155, in __init__
    self._server = rpcServer.getServer(timeout=timeout)
  File "/usr/share/rhn/up2date_client/rpcServer.py", line 156, in getServer
    timeout=timeout)
TypeError: __init__() got an unexpected keyword argument 'timeout'