(1) Training topics and course selection for directors' training must reflect the size and complexity of the business model of the credit union that the directors serve and the depth of understanding needed by the directors to effectively manage the credit union. The training must ensure directors achieve at least the minimum level of competency to enable the directors to exercise appropriate independent business judgment to complement the expertise and business judgment of the credit union's executive officers in matters within the board's authority.

History: 32-3-422, MCA; IMP, 32-3-422, MCA; NEW, 2015 MAR p. 2247, Eff. 12/25/15; TRANS from 2.59.421 & AMD, 2016 MAR p. 720, Eff. 4/23/16.