23 CAR § 304-115. Credit committee

(a) The credit committee shall have the authority to remove any loan officer by majority vote with or without cause. (b)(1) The credit committee or loan officer shall maintain detailed minutes and records of all meetings. (2) At a minimum, the minutes or other appropriate credit union documents should show and include the following: (A) Date of meeting; (B) Members present at the meeting; (C) Collateral or security offered on each loan; (D) Appraised value of collateral or security offered; (E) Specific action taken on each loan considered; and (F) If a loan is disapproved, the reason or reasons for disapproval must be stated and the member notified in accordance with the Equal Credit Opportunity Act, 15 U.S.C. § 1691 et seq.