§412:10-116  Loan officers.  (a)  The
board of directors, and if given such power by the board, the credit committee
or the credit manager, may appoint one or more loan officers, who may be
empowered to approve or disapprove loan applications, subject to written
policies established by the board of directors.  Not more than one member of
any credit committee may serve as a loan officer.  Each loan officer shall
report to the credit committee or credit manager any action taken on a loan
application within seven days after the filing thereof.



(b)  A member whose application was disapproved
by a loan officer may appeal such action to the credit committee, the credit
manager or the board of directors, as provided by the bylaws. [L 1993, c 350,
pt of §1]