The board of directors shall establish appropriate written policies and operating strategies to conduct prudent credit union operations based on the size, complexity, and financial condition of the credit union. Policies shall be reviewed and approved/reaffirmed per a schedule adopted by the Board, but no less than once every two years from the previous adoption or reaffirmation of each policy. The board is encouraged to consider published industry guidance provided by regulatory agencies in the development of policies, if available. The policies shall ensure that the credit union complies with all applicable state and federal requirements with respect to all operations and activities.
Rulemaking Authority 655.012 FS. Law Implemented Florida Statutes § 657.021. History-New 3-6-07.