§ 32326
62 words·~1 min read·
/ca/financial-code/32326A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board of directors of the corporation shall establish a loan committee, which shall review, rank, and approve or disapprove applications for loans under this division in accordance with procedures and criteria adopted by the board of directors. The loan committee shall consist of persons appointed by, and who shall serve at the pleasure of, the board of directors of the corporation.