32-3-606. Line of credit.
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/mt/title-32/chapter-3/part-6/32-3-606·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32-3-606 . Line of credit. Upon their own motion or upon application by a member, the credit committee or credit manager may approve a line of credit in advance, and advances may be granted to each member within the limit of such extension of credit. Where a line of credit has been approved, no additional loan applications are required as long as the aggregate obligation does not exceed the limit of such extension of credit.