(1) If the verification is performed by the supervisory committee, a controlled verification of 100% of the members' share, deposit and loan accounts must be made.

(2) If the verification is performed by a certified public accountant, the auditor may choose the verification method set forth in subsection 1 or a sampling method sufficient in both number and scope on which to base conclusions concerning the validity of such records.

B. If the superintendent determines such verification inadequate, the superintendent may cause the bureau to verify such accounts; and the bureau must have full access to every aspect of the credit union's activities and to all books, papers, vouchers, resources and all other records and property belonging to said credit union, whether in its immediate possession or otherwise, for the purpose of facilitating such verification.

C. Expenses incurred by the superintendent in any such verification must be paid by the credit union, to be credited and used as provided in section 214.

3. Meetings. The supervisory committee shall hold meetings at least once each quarter, and shall keep records thereof.

4. Annual report. The supervisory committee shall make an annual report at the annual meeting of members of the credit union.

5.__Exception.__Notwithstanding the provisions of subsections 1 and 1-A, any credit union that has total assets in excess of $50,000,000 must employ an independent public accountant to conduct an annual audit of the credit union.

6.__Rulemaking.__The superintendent may adopt rules to further define the duties of the supervisory committee.__Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

Sec. 34. 9-B MRSA §845, sub-§1, as enacted by PL 1975, c. 500, §1 is amended to read: