KRS 286.6-255: Credit committee.

(1) A credit committee shall have the general supervision of all loans to members,

unless it is dispensed with as provided in KRS 286.6-265.

(2) The credit committee shall meet as often as the business of the credit union requires

to consider applications for loans and review the work of the loan officers. No loan

shall be made unless it is approved by a majority of the committee who are present

at the meeting at which the application is considered.