Every credit union shall have a supervisory committee of at least three persons, provided that the number of members on the committee is an odd number, each of whom shall be a member of the credit union and elected by the members of the credit union. In the alternative, the board of directors may establish an audit committee subject to the requirements of Section 14556.
(Amended by Stats. 2016, Ch. 353, Sec. 5. (AB 2274) Effective January 1, 2017.)