Section 723.672 – Suspension; revocation of charter.
(1) If it appears that any credit union is bankrupt or insolvent, or that it has willfully violated any provision of this chapter, or is operating in an unsafe or unsound manner, the Director of the Department of Consumer and Business Services shall issue an order temporarily suspending the credit union’s operations for not less […]
Section 723.676 – Liquidation.
(1) A credit union may elect to dissolve voluntarily and liquidate its affairs in the manner prescribed in this section. (2) The board of directors shall adopt a resolution recommending the credit union be dissolved voluntarily and directing that the question of liquidation be submitted to the members. (3) Within 10 days after the board […]
Section 723.512 – Loan limit; exception.
(1) A credit union may not make a loan to any member in an aggregate amount that exceeds $100,000, or 15 percent of the credit union’s equity, whichever is greater. In determining the amount of loans to be made to a member, loans for which that member is a guarantor or surety must be included, […]
Section 723.682 – Merger; opposition to merger.
(1)(a) A credit union chartered in this state may, with the approval of the Director of the Department of Consumer and Business Services, merge with another credit union under the existing charter of the other credit union pursuant to a plan that the majority of each board of directors of each credit union joining in […]
Section 723.516 – Installments.
A member may receive a loan in installments, or in one sum, and may pay the whole or any part of the member’s loan on any day on which the office of the credit union is open for business. [1975 c.652 §55]
Section 723.686 – Conversion of charter.
(1) A credit union chartered under the laws of this state may be converted to a credit union chartered under the laws of the United States, subject to the approval of the National Credit Union Administration. (2) A credit union chartered under the laws of the United States may convert to a credit union chartered […]
Section 723.522 – Line of credit.
The credit committee, credit manager, or loan officer may approve in advance upon their own motion or upon application by a member, a line of credit, and advances may be granted to such member within the limit of such extension of credit. Where a line of credit has been approved, no additional loan applications are […]
Section 723.702 – Organization; name.
Any central credit union may be organized and operated under this chapter with all the rights and powers of any credit union organized under this chapter, except those granted to a corporate central credit union under ORS 723.730, and shall be subject to all provisions of this chapter not inconsistent with ORS 723.702 to 723.730. […]
Section 723.526 – Other loan programs.
(1) Loans to credit union members may be shared with other credit unions, corporations or financial organizations. (2) A credit union may participate in guaranteed loan programs of the federal government, the State of Oregon or any other state. (3) A credit union may purchase the conditional sales contracts, notes and similar instruments of its […]
Section 723.706 – Membership.
Membership in a central credit union is limited to: (1) Credit unions organized and operating under this chapter or under any other credit union act. (2) Officers, directors, committee members and employees of such credit unions; officials and employees of any association of credit unions; and employees of federal or state governmental agencies responsible for […]