(1) A credit union shall establish and maintain a regular reserve for contingencies. The Director of the Department of Consumer and Business Services may adopt rules prescribing: (a) Minimum net worth requirements for credit unions; and (b) Actions a credit union must take when the net worth of the credit union falls below the applicable […]
(1) Subject to subsection (2) of this section, the board of directors of a credit union may authorize losses to be charged to the regular reserve after first depleting the balance of the undivided earnings account and other appropriations of undivided earnings designated by the management of the credit union or by the regulatory authorities. […]
(1) In addition to the regular reserve established under ORS 723.631, special reserves to protect the interest of members shall be established, as provided in this section: (a) When required by rule; or (b) When found by the board of directors of the credit union or by the Director of the Department of Consumer and […]
