Mutual Banks Act, 1993 (Act No. 124 of 1993)

Chapter IV : Administration of Mutual Banks

Purchase

(1)	The board of any mutual bank may in its discretion establish one or more branch offices or agencies of the mutual bank at such place or places as it may determine.

(2)	The board may place any such branch office or agency under the management of a local board and may determine the powers and duties of any such local board.

(3)	Every local board and every officer appointed to any such branch office or agency shall be under the control of the board of the mutual bank.