C-4.1 - Savings and Credit Unions Act

Section 154 Disposition versions

1997-02-15

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.

1989-03-15

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.