Maine § 9-B §845 Credit committee

Maine Statutes

§ 9-B §845 — Credit committee

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 8 CREDIT UNIONS·Ch. 84 MANAGEMENT AND OPERATIONS

1.Powers and duties. If a credit committee is appointed pursuant to section 842, subsection 2, the credit committee shall:

2.Loan officers.

3.Personal loans. No personal loan, other than those approved by loan officers, shall be made unless a majority of the members of the credit committee who are present at a meeting when the loan application is considered vote to approve said loan. A quorum of the credit committee at such meeting shall be at least 2/3 of the members of the committee.

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1.
Powers and duties.
If a credit committee is appointed pursuant to section 842, subsection 2, the credit committee shall:
2.
Loan officers.
3.
Personal loans.
No personal loan, other than those approved by loan officers, shall be made unless a majority of the members of the credit committee who are present at a meeting when the loan application is considered vote to approve said loan. A quorum of the credit committee at such meeting shall be at least 2/3 of the members of the committee.

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