Pub. L. 95-22, tit. III, sec. 304

Sec. 304. Section 114 of the Federal Credit Union Act (12 U.S.C. 1761c) is amended as follows: (1) by adding “and lines of credit” after “loans” in the first sentence; (2) by striking “No loan shall be made unless it is approved” in the third sentence and inserting in lieu thereof “Except for those loans or lines of credit required to be approved by the board of directors in section 107(5) of this Act, approval of an application shall be” and by adding “and lines of credit” after “the power to approve loans”; 91 STAT. 52 (3) by striking “loan” as it appears after “each” and before “approved” in the fourth sentence, and inserting in lieu thereof “application”; (4) by striking “loans” in the fifth sentence and inserting in lieu thereof “applications”; (5) by striking “for any loan which” in the sixth sentence and inserting in lieu thereof “with respect to any loan or line of credit for which the application”; (6) by adding “and lines of credit” after “loans” in the eighth sentence and by striking “the purpose for which the loan is desired”; (7) by striking the ninth sentence; and (8) by striking “$200 or” and “whichever is greater”, in the tenth sentence.