(1) The credit committee may appoint one (1) or more loan officers and delegate the power to approve or disapprove loans, subject to such limitations or conditions as the credit committee prescribes.
(2) Where a credit manager is provided in lieu of a credit committee, the credit manager may appoint one (1) or more loan officers with the power to approve or disapprove loans, subject to such limitations or conditions as the credit manager prescribes.
(3) A member whose application was disapproved by a loan officer may appeal such action to the credit committee or credit manager, as appropriate under the bylaws.