Subject to the limitations set forth in sections 854 and 855, the credit committee of a credit union may approve a line of
credit to a member upon written application by the member, and advances may be made to that member within the limits of that
extension of credit. A line of credit given pursuant to this section must be reviewed periodically by a loan officer or the
credit committee in accordance with the policy established under section 854.
1995, c. 512, §3 (AMD)
Repayment of advances made pursuant to a line of credit shall be on such terms as shall be mutually agreed upon by the member
and the credit union.
1979, c. 133, §2 (NEW)
1979, c. 133, §2 (NEW).
1987, c. 405, §31 (AMD).
1995, c. 512, §3 (AMD).
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