32-3-414. Meeting of credit committee -- loan approval. The credit committee shall meet as often as the business of the credit union requires to consider applications for loans. A loan may not be made unless it is approved by a majority of the committee who are present at the meeting at which the application is considered. However, credit union loan policies may provide that the credit committee may approve loans by category of size or type.

     History: En. 14-633 by Sec. 33, Ch. 38, L. 1975; R.C.M. 1947, 14-633; amd. Sec. 27, Ch. 237, L. 2003.