The credit committee, credit manager, or loan officer may approve in advance upon their own motion or upon application by a member, a line of credit, and advances may be granted to such member within the limit of such extension of credit. Where a line of credit has been approved, no additional loan applications are required as long as the aggregate obligation does not exceed the limit of such extension of credit. [1975 c.652 §56; 1987 c.286 §8]
Section: Previous 723.498 723.502 723.506 723.510 723.512 723.516 723.520 723.522 723.526 723.530 723.532 723.536 723.540 723.550 723.560 NextLast modified: August 7, 2008