{"data":{"id":"us-nc/n.c.-gen.-stat.-54-109.48","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 54-109.48","heading":"When credit committee dispensed with.","body":"The credit committee may be dispensed with, and loan officer(s) empowered to approve or disapprove loans under conditions prescribed by the board of directors. In the event the credit committee is dispensed with, the procedures prescribed in G.S. 54-109.45, 54-109.46 and 54-109.47 do not apply, and no loans shall be made unless approved by the loan officer(s). (1915, c. 115, s. 11; C.S., s. 5235; 1961, c. 1187, s. 22; 1965, c. 956, s. 1; 1969, c. 69, s. 5; 1973, c. 199, s. 10; 1975, c. 538, s. 1.)","path":["Chapter 54. Cooperative Organizations.","SUBCHAPTER III. CREDIT UNIONS.","Article 14E. Direction of Affairs."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_54/GS_54-109.48.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:32Z","sha256":"fdbc4cb715bd8172bc1a87ba65e1bc64d55c294136b935f4089f1deb4bce953a","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-54-109.47","next":"us-nc/n.c.-gen.-stat.-54-109.49"},"notice":"GroundRules: Original legal text. Not legal advice."}