§ 6-405. Commissioner may require independent audit

Latest version.

(a) Authority. -- If the Commissioner finds that the supervisory committee of a credit union is not performing its duties properly, the Commissioner may require the credit union to have a certified public accountant audit the credit union for any period of time that the Commissioner considers necessary.

(b) Cost. -- The audit required under subsection (a) of this section shall be made at the expense of the credit union.

HISTORY: An. Code 1957, art. 11, § 147A; 1980, ch. 33, § 2; 1996, ch. 326, § 2; 2001, ch. 147, § 1; ch. 148, § 1.

                    
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