54-109.49. Duties of supervisory committee.
The supervisory committee shall make or cause to be made an annual audit, in accordance with rules and regulations promulgated by the Administrator of Credit Unions, and shall submit a report of that audit to the board of directors and a summary of the report to the members at the next annual meeting of the credit union. The supervisory committee shall make or cause to be made such supplemental audits as deemed necessary by it or as may be ordered by the Administrator of Credit Unions. Any violation of this Article or of the bylaws or of any practice of the corporation which in the opinion of the supervisory committee is unsafe, unsound, or unauthorized, shall be reported to the board of directors and the Administrator of Credit Unions within seven days after its discovery. (1915, c. 115, s. 12; C.S., s. 5236; 1965, c. 956, s. 21; 1973, c. 199, s. 11; 1975, c. 538, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 54 - Cooperative Organizations
Article 14E - Direction of Affairs.
§ 54-109.35 - Election or appointment of officials.
§ 54-109.36 - Record of board and committee members.
§ 54-109.38 - Compensation of officials.
§ 54-109.39 - Conflicts of interest.
§ 54-109.40 - Executive officers.
§ 54-109.41 - Authority of directors.
§ 54-109.42 - Executive committee.
§ 54-109.43 - Meetings of directors.
§ 54-109.44 - Duties of directors.
§ 54-109.45 - Authority of credit committee.
§ 54-109.46 - Meetings of credit committee.