§ 54-109.49. Duties of supervisory committee. - North Carolina Statutes

§54‑109.49.  Duties of supervisory committee.

The supervisory committeeshall make or cause to be made an annual audit, in accordance with rules andregulations promulgated by the Administrator of Credit Unions, and shall submita report of that audit to the board of directors and a summary of the report tothe members at the next annual meeting of the credit union. The supervisorycommittee shall make or cause to be made such supplemental audits as deemednecessary by it or as may be ordered by the Administrator of Credit Unions. Anyviolation of this Article or of the bylaws or of any practice of thecorporation which in the opinion of the supervisory committee is unsafe,unsound, or unauthorized, shall be reported to the board of directors and theAdministrator of Credit Unions within seven days after its discovery. (1915,c. 115, s. 12; C.S., s. 5236; 1965, c. 956, s. 21; 1973, c. 199, s. 11; 1975,c. 538, s. 1.)