(2) The supervisory committee shall cause the accounts of the members to be verified with the records of the credit union from time to time in accordance with subsection (3) of this section. This verification shall be done not less frequently than every two years.
(3) Verification of members’ accounts shall be made using either of the following methods:
(a) A controlled verification of 100 percent of members’ share and loan accounts; or
(b) A controlled random statistical sampling method in accordance with rules that the director may prescribe.
(4) Records of accounts verified shall be maintained and retained until the next verification of members’ accounts is completed. [1975 c.652 §39; 1991 c.635 §10]