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C-4.1 - Savings and Credit Unions Act

Section 156
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156. In the event of a vacancy on the executive committee, the directors may appoint a substitute for the remainder of the term of office.
1988, c. 64, s. 156; 1996, c. 69, s. 43.
156. The credit committee may, on the conditions it determines, authorize the director general or any other person who may be designated by the board of directors, to exercise all or part of its powers.
The credit committee cannot, however, in the case of transactions with restricted parties, delegate its powers to authorize credit.
The board of directors shall exercise the powers of the credit committee where, on a given subject, a quorum cannot be reached because of a conflict of interest involving one of its members.
1988, c. 64, s. 156.
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