Or. Admin. R. 441-710-0520

Current through Register Vol. 63, No. 8, August 1, 2024

Section 441-710-0520 - Reports and Filings When Credit Union Invests in CUSO

(1) When a credit union first invests in or loans funds to a CUSO, the credit union shall, within 30 days after the funds are first invested or loaned, file with the Director a copy of:

(a) The charter, articles of association or incorporation, or partnership agreement, of the CUSO;

(b) The bylaws of the CUSO; and

(c) The most recent financial statement of the CUSO.

(2) Any amendments of the documents described by section (1) of this rule shall be filed with the Director by the credit union within 30 days after the amendment becomes effective.

(3) While a credit union has funds invested in or loaned to a CUSO, the credit union shall each year file the annual financial statement of the CUSO with the Director within 30 days after the statement is issued.

Or. Admin. R. 441-710-0520

BB 1-1984, f. & ef. 2-8-84; Renumbered from 805-072-0156; Renumbered from 441-710-0100, FCS 2-2005, f. & cert. ef. 8-25-05

Stat. Auth.: ORS 723.102

Stats. Implemented: ORS 723.106 & 723.602