4. Annual report. The supervisory committee shall make an annual report at the annual meeting of members of the credit union.

5.__Exception.__Notwithstanding the provisions of subsections 1 and 1-A, any credit union that has total assets in excess of $100,000,000 must employ an independent public accountant to conduct an annual audit of the credit union.

6.__Rulemaking.__The superintendent may adopt rules to further define the duties of the supervisory committee.__Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

Sec. 34. 9-B MRSA §845, sub-§1, as enacted by PL 1975, c. 500, §1, is amended to read:

1. Powers and duties. The If a credit committee, is appointed pursuant to section 842, subsection 2, the credit committee shall:

A. Hold meetings at least once in each month;

B. Act on all applications for loans to members;

C. Approve in writing all personal loans granted and the security, if any, pledged therefor for personal loans; and

D. Submit to the board of directors all applications for loans to be secured by mortgages of real estate, with its recommendations thereon on the applications, which shall must include a signed appraisal as to its best judgment of the value of the real estate involved.

Sec. 35. 9-B MRSA §846, sub-§1, as amended by PL 1983, c. 51, §6, is further amended to read:

1. Time and notice. The annual meeting of the members of a credit union shall must be held at such time and place as the board of directors may determine, but not later than 180 days after the close of the fiscal year. Special meetings may be called at any time by a majority of the directors, and shall must be called by the clerk upon written application of 10 or more members entitled to vote request of 25 members or 5% of the total members entitled to vote as of the date of request, whichever number is greater. Notwithstanding this section, the maximum number of members required to call a special meeting may not