Rule 2.59.415 - DUTIES OF THE SUPERVISORY COMMITTEE(1) The supervisory committee shall:(a) verify that adequate internal controls are established and maintained to safeguard the credit union's assets;(b) oversee the inspection of securities, cash, and accounts of the credit union;(c) review credit union operations and monitor its overall financial condition on an ongoing basis;(d) review the actions of the board of directors, officers, and committees to ensure that the individuals and entities: (i) exercise firm control over the credit union's affairs;(ii) understand their role; and(iii) promote the credit union for its intended purposes;(e) ensure that the credit union complies with all applicable laws and regulations;(f) review all new policies and changes to credit union procedures and assess their effects on the safety of members' funds; and (g) understand, support, and monitor compliance programs related to the Bank Secrecy Act of 1970 and the Money Laundering Control Act of 1986.NEW, 2015 MAR p. 2247, Eff. 12/25/2015.AUTH: 32-3-403, MCA; IMP: 32-3-403, MCA