§412:10-410 - Lines of credit.
§412:10-410 Lines of credit. A creditunion may offer its members self-replenishing lines of credit. Loan advanceswithin the limits of a line of credit may be made without the necessity ofsubmitting additional loan applications; provided that the applicant qualifiesfor the line of credit and the applicant's aggregate indebtedness under theline of credit does not exceed the approved limit. The board, credit committeeor credit manager shall review, or cause to be reviewed, all lines of credit atleast once every three years. [L 1993, c 350, pt of §1]