2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 21 - IDAHO CREDIT UNION ACT
Section 26-2118 - CREDIT COMMITTEE.
The credit committee, upon approval of the board, may appoint one (1) or more loan officers to act under the supervision of the credit committee and such loan officer, when so appointed, may make loans without necessity for a meeting of or approval by any members of the credit committee, as provided in the bylaws. No more than one (1) member of the credit committee may serve in the position of loan officer. No individual shall have authority to disburse funds of the credit union for any loan which has been approved by him in his capacity as loan officer except that the loan officer may disburse loans approved by him which are fully secured by shares or which do not exceed the credit union's unsecured loan limit set by the board of directors.
No member of the credit committee may serve as a member of the board of directors or supervisory committee while serving as a member of the credit committee.
History:
[26-2118, added 1977, ch. 213, sec. 2, p. 592.]
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