credit unions; certificates; powers; committee

Added an exception allowing associations of credit unions or organizations primarily owned by them to use the words 'credit union' in their names, whereas previously only the credit union itself could do so.

Clarified that the credit committee must approve or deny loan applications by a majority vote of the members present at the meeting where the application is considered.

Added a requirement that the credit committee or credit manager must keep a record of all actions taken and report them to the board at the next meeting.

Updated the statute regarding loan appeals to ensure they are approved or denied by a majority of the committee members present at the specific meeting where the application is considered.

Extended the deputy director's decision deadline for approving a change in a credit union's principal place of business from 30 business days to 60 business days.