Or. Admin. R. 441-710-0525

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

Section 441-710-0525 - Duty to Report Changes in Accounting Systems, Methods or Procedures

(1) A credit union shall report to the Director any major change that affects bookkeeping or accounting systems, methods and procedures at least 60 days prior to implementation of the change to permit the Director to schedule examinations appropriately.

(2) Any contract or agreement by a credit union to purchase accounting services shall include a clause acknowledging the right of the Director or authorized representatives to examine any and all records of the credit union on the premises of the servicer.

BB 4-1982, f. 8-24-82, ef. 9-1-82; Renumbered from 805-072-0160; Renumbered from 441-710-0110, FCS 2-2005, f. & cert. ef. 8-25-05

Stat. Auth.: ORS 723.102

Stats. Implemented: ORS 723.116 & 723.152