C-4.1 - Savings and Credit Unions Act

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154. If so authorized by by-law of the credit union, the board of directors may form an executive committee composed of not fewer than three directors, including the president, vice-president or secretary of the credit union.
The number of members of the executive committee must not exceed half the number of directors.
1988, c. 64, s. 154; 1996, c. 69, s. 43.
154. The functions of the credit committee are
(1)  to authorize the credit that may be extended by the credit union;
(2)  to authorize the signing of releases, discharges or waivers of priority and applications for cancellation under article 2157b of the Civil Code of Lower Canada.
1988, c. 64, s. 154.