ORS Chapter 723 - Oregon Statutes

Chapter 723 — CreditUnions

 

2009 EDITION

 

 

CREDITUNIONS

 

CREDITUNIONS; LENDING INSTITUTIONS; PAWNBROKERS

 

GENERALPROVISIONS

 

723.001     Definitions

 

723.002     Shorttitle

 

723.006     “Creditunion” defined

 

723.008     “Creditunion” defined for ORS 723.136 and 723.464 to 723.498

 

FORMATION

 

723.012     Organizationprocedure; articles of incorporation; bylaws; fee; rules

 

723.014     Denialof certificate of approval

 

723.016     Formof articles and bylaws

 

723.022     Amendmentof articles and bylaws; fee; rules

 

723.026     Useof name exclusive; criminal penalty

 

723.032     Placesof business; fee; rules; mobile facilities

 

723.036     Fiscalyear

 

723.042     Interstatecredit unions

 

REGULATORYAUTHORITY

 

723.102     Rulemakingauthority

 

723.106     Reports;late filing penalty; rules

 

723.112     Examinations

 

723.114     Annualfees paid by credit unions

 

723.116     Records;rules

 

723.118     Disclosureof records of department; exemptions

 

723.122     Bondor letter of credit; rules

 

723.126     Enforcementactions

 

723.132     Orderto remove officer, director or committee member

 

723.134     Receiptof deposits from person not a member of credit union; secondary capitalaccounts; rules

 

723.136     Agreementswith other credit union supervisory agencies and Financial Crimes EnforcementNetwork; contracts for use of credit union examiners; joint examination orenforcement; fees

 

POWERSOF CREDIT UNIONS

 

723.152     Generalpowers; rules

 

723.156     Exerciseof powers of federal credit union

 

MEMBERSHIP

 

723.172     Creditunion membership; rules

 

723.176     Businessand nonbusiness organizations as members

 

723.182     Othercredit unions as members

 

723.184     Statedeemed member with respect to deferred compensation deposits; restrictions onmembership

 

723.186     Memberswho leave field of membership

 

723.188     Fosterparents as members

 

723.192     Individualliability

 

723.196     Meetingof members; mail or electronic ballots

 

723.202     Withdrawaland expulsion of members; request for reinstatement

 

DIRECTIONOF AFFAIRS

 

723.252     Electionof directors and appointment of credit committee and credit manager

 

723.256     Recordof board and committee members

 

723.262     Vacancies

 

723.266     Compensationof officials

 

723.272     Conflictsof interest

 

723.276     Executiveofficers

 

723.282     Authorityof directors

 

723.286     Executivecommittee

 

723.292     Meetingsof directors

 

723.296     Dutiesof directors; delegation of duties

 

723.302     Dutiesof credit committee

 

723.306     Meetingsof credit committee

 

723.312     Loanofficers

 

723.316     Creditmanager

 

723.322     Dutiesof supervisory committee; verification of member accounts; rules

 

723.326     Suspensionand removal of officials; restrictions on service as director

 

723.332     Specialmeetings

 

723.338     Dutyto notify law enforcement officers of violations of Oregon Credit Union Act;investigations; costs

 

ACCOUNTS

 

723.402     Shares

 

723.406     Dividends

 

723.412     Depositand deposit certificate accounts; interest;

                  priority

 

723.426     Jointaccounts

 

723.432     Trustaccounts

 

723.434     Sharedraft accounts

 

723.447     Certifiedshare drafts

 

723.450     Paymenton shares and deposits; restriction on class of shares

 

723.454     Liens

 

723.460     Reductionin shares

 

723.464     Depositsmade in name of minor

 

723.466     Dispositionof deposit on death of depositor

 

723.468     Adverseclaim to deposit; notice; restraining order or other process; indemnity bond orletter of credit

 

723.470     Checksdrawn by agents presumed to be in authorized manner

 

723.472     Checksof intoxicated or drugged persons

 

723.474     Definitionsfor ORS 723.474 to 723.498

 

723.476     Applicationof ORS 723.478, 723.480 and 723.482; liability and setoff rights of credit unions

 

723.478     Ownershipof multiple-party accounts

 

723.480     Multiple-partyaccounts; disposition of deposit upon death of party or trustee; effect of will

 

723.482     Rightsof survivorship based on form of account; alteration of form of account

 

723.484     Transfersof moneys upon death of depositor or trustee is not testamentary disposition

 

723.486     Multipleparty account; payment of deposit to one or more parties; credit union notrequired to determine source or use of funds in account

 

723.488     Jointaccount; payment to any party to account; payment to others

 

723.490     P.O.D.account; payment to any original party; payment to others

 

723.492     Trustaccount; payment to trustee; payment to others

 

723.494     Dischargeof credit union for payments made; conditions

 

723.496     Rightof credit union to setoff; amount

 

723.498     Designationof agent for account; powers of agent

 

LOANS

 

723.502     Purposes;terms

 

723.506     Application

 

723.512     Loanlimit; exception

 

723.516     Installments

 

723.522     Lineof credit

 

723.526     Otherloan programs

 

723.532     Loansto credit union officials; waiver; rules

 

723.536     Loansto nonmembers; personal liability

 

INSURANCEAND GROUP PURCHASING

 

723.572     Insurancefor members

 

723.576     Liabilityinsurance for director, officer, employee or agent