186.098 Loans.
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(6) POLICIES. The board of directors shall determine policy regarding all of the following:
(a) Collateral acceptable for secured loans.
(b) Loan limits.
(c) Loan approval if a director, officer, credit committee member or employee provides security as a comaker, guarantor, endorser or other form of surety.
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(8) CREDIT EXTENSIONS.
186.098(8)(a)(a) The credit committee or a loan officer may approve, upon its own motion or upon application by a member, an extension of credit, and loans may be granted to the member within the limit of the extension of credit. The credit committee or loan officers shall review all extensions of credit in accordance with written policies adopted by the board of directors.
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Wis. Stats: 186 Credit Unions (state-chartered only) as regarding policies.
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