1. A credit union may make loans to its directors and to members of its committees, except that any loan or aggregate of loans to any one director or member of a committee which is more than $30,000 plus pledged shares must be approved by the board.
2. A credit union may permit its directors and members of its committees to act as guarantor or endorser of loans to other members, except that when such a loan standing alone or when added to any outstanding loan to the guarantor is more than $30,000, approval of the board is required.
(Added to NRS by 1975, 390; A 1983, 2018; 1999, 1454) — (Substituted in revision for NRS 678.730)
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