3 CCR 703-1-14 - BUSINESS PLANS AND DIRECTORS' POLICIES
14-1.
Business Plans. Each savings and loan
association shall prepare a written business plan that specifies the
association's operating goals and details the strategies to achieve the
association's goals. The plan shall consist of a narrative and proforma
financial statements. Said business plan shall reflect a minimum period of
three years into the future, updated no less than annually.
14-2. Each association's business plan and
any amendments thereto shall be approved by the association's board of
directors, at which time such plan or amendments shall become effective. Such
approval shall be recorded in the minutes of the board of directors.
14-4.
Directors'
Policies. The board of directors of each savings and loan
association shall establish sufficient written policies to guide the
association's operations. The directors shall annually review and revise, as
necessary, all policies previously established.
Notes
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