§412:10-116 Loan officers. (a) The board of directors, and if given such power by the board, the credit committee or the credit manager, may appoint one or more loan officers, who may be empowered to approve or disapprove loan applications, subject to written policies established by the board of directors. Not more than one member of any credit committee may serve as a loan officer. Each loan officer shall report to the credit committee or credit manager any action taken on a loan application within seven days after the filing thereof.
(b) A member whose application was disapproved by a loan officer may appeal such action to the credit committee, the credit manager or the board of directors, as provided by the bylaws. [L 1993, c 350, pt of §1]
Section: Previous 412-10-109 412-10-110 412-10-111 412-10-112 412-10-113 412-10-114 412-10-115 412-10-116 412-10-117 412-10-118 412-10-119 412-10-120 412-10-121 412-10-122 412-10-123 NextLast modified: October 27, 2016