law: Co-Operative Societies Act 2008 
  59.
  
  Credit Committee reports
  1.      The Credit Committee
  
  shall-
  a.     
  
    meet
  
  at least once every month;
  b.    
  
    keep
  
  minutes of its meetings;
  c.     
  
    submit
  
  a monthly report to the Board of directors stating-
                       
  
   i.        
  
    the
  
  number of loan applications received;
                      
  
   ii.        
  
    the
  
  number and category of loans granted;
                     
  
   iii.        
  
    the
  
  security obtained for such loans granted;
                     
  
   iv.        
  
    details
  
  of applications denied, and delinquent loans; and
  a.    
  
     
  b.    
  
     
  c.    
  
     
  d.    
  
    submit
  
  an annual report on the matters referred to in paragraph (c) to the
  
  annual meeting of the credit union.
  2.      The members of a
  
  society may, by special resolution in a special meeting called for the purpose,
  
  remove a Credit Committee which fails to comply with paragraph (c) of
  
  subsection (1).