Arizona § 6-538 - Credit committee
Full text of Arizona Arizona Revised Statutes § 6-538 — Credit committee, with citation guidance and answers to common questions.
§ 6-538. Credit committee
A. The credit committee has the general supervision of all loans to members, unless it is replaced by a credit manager as provided in section 6-539. The credit committee may approve or disapprove loans subject to written policies established by the board of directors.
B. The credit committee shall meet as often as the business of the credit union requires but not less frequently than monthly, to review the lending activities of the credit union and to consider applications for loans. A loan shall not be made unless it is approved by a majority of the members of the committee who are present at the meeting at which the application is considered.
C. The credit committee or the credit manager shall keep a record of all actions taken and shall report on such actions to the board at its next meeting.
Frequently Asked Questions About Arizona § 6-538
What does Arizona Revised Statutes § 6-538 cover?
Section 6-538 ("Credit committee") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 6-538?
A common citation format is "Arizona Revised Statutes § 6-538" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 6-538 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.