ARTICLE 4. Supervisory Committee [14550. - 14556.]

Article 4 added by Stats. 1979, Ch. 112.

§§ 14550–14556 · 8 sections

• § 14550 Every credit union shall have a supervisory committee of at least three persons, provided that the number of members on the committee is an odd number, each of…
• § 14551 The supervisory committee may: (a) Suspend at any time by unanimous vote, at a meeting called for that purpose, the credit committee, or any member thereof, or…
• § 14551.5 The supervisory committee shall be responsible for reviewing the credit union’s policies and control procedures to safeguard against fraud and self-dealing,…
• § 14552 The supervisory committee shall, within seven days after suspension of any or all members of the credit committee, or any member of the board of directors, or…
• § 14553 (a) The supervisory committee shall at least once each year make or cause to be made an audit of the books and records and an examination of the business and…
• § 14554 No member of the supervisory committee shall serve as a member of the credit committee, as the credit manager, as a member of the board of directors, or as an…
• § 14555 The commissioner may, after investigation and finding that the supervisory committee is not performing in conformance with this article, declare all offices of…
• § 14556 (a) The board of directors may, by resolution, establish an audit committee in lieu of a supervisory committee. An audit committee that meets all the…