Co-Operative Societies Act 2008
59. Credit Committee reports
1. The Credit Committee shall-
a. meet at least once every month;
b. keep minutes of its meetings;
c. submit a monthly report to the Board of directors stating-
i. the number of loan applications received;
ii. the number and category of loans granted;
iii. the security obtained for such loans granted;
iv. details of applications denied, and delinquent loans; and
d. submit an annual report on the matters referred to in paragraph (c) to the annual meeting of the credit union.
2. The members of a society may, by special resolution in a special meeting called for the purpose, remove a Credit Committee which fails to comply with paragraph (c) of subsection (1).