Section 394-B:47 Credit Committee. - New Hampshire Statutes

The credit committee shall hold meetings to consider loan applications as provided in RSA 394-B:34. If no loan officers are appointed, the credit committee shall hold meetings, of which due notice shall be given its members, for the purpose of considering applications for loans, and no loan shall be made unless a majority of the members of the committee who are present when the application is considered approve the loan and are satisfied that it promises to benefit the borrower. A majority of the members of the committee shall constitute a quorum. The action of the credit committee in approving or disapproving a loan shall be final.

Source. 1983, 195:1, eff. Aug. 14, 1983.