Question 338 of 415
What new rule was implemented for the cooperative society?
- No staff could borrow more than N250,000
- All loans must be approved by the MD
- Management must be informed about cooperative elections
- All of the above
Correct Answer:
D
Explanation
The board reached a decision: no staff member could borrow more than N250,000; all loan requests had to be approved by the MD; and management must be duly informed about cooperative elections.