Montana § 32-3-416 - Credit Committee Or Credit Manager Duties
Full text of Montana Montana Code Annotated § 32-3-416 — Credit Committee Or Credit Manager Duties, with citation guidance and answers to common questions.
§ 32-3-416. Credit Committee Or Credit Manager Duties
Credit committee or credit manager duties. (1) A credit union may use a credit committee or a credit manager to approve or disapprove loans under conditions the board of directors prescribes. (2) The credit committee or the credit manager may appoint one or more loan officers with the power to approve loans, subject to limitations or conditions that the board of directors prescribes. The board of directors shall provide an appeal process for applications rejected by loan officers. (3) If a credit union uses a credit committee, a quorum of the credit committee shall meet as often as required to consider loan applications. A majority of the credit committee members who are present at the meeting at which an application is considered is required for approval of the application. (4) Credit union policies set by the board of directors may determine the loan size or type of loans that a credit committee or credit manager may approve.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 32-3-416
What does Montana Code Annotated § 32-3-416 cover?
Section 32-3-416 ("Credit Committee Or Credit Manager Duties") is part of the Montana Code Annotated, the codified statutory law of Montana. 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 Montana § 32-3-416?
A common citation format is "Montana Code Annotated § 32-3-416" (Montana). 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 Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 32-3-416 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana 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 Montana.