reglab/housing_qa huggingface dataset:
OR Rev Stat § 723.134 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.134 - Receipt of deposits from person not a member of credit union; secondary capital accounts; rules.

(1) The Director of the Department of Consumer and Business Services by rule may establish guidelines for determining whether a credit union predominantly serves low-income members. If the director, using the guidelines established in accordance with this subsection, determines that a credit union predominantly serves low-income members, the credit union may: (a) Receive deposits from a person that is not a member of the credit union and allow the person to hold shares in the credit union; and (b) Issue secondary capital accounts that are subject to any terms and conditions that the Director of the Department of Consumer and Business Services may prescribe by rule. (2) For purposes of this section, "secondary capital account" means a deposit or share account that is not insured by the National Credit Union Administration, or another primary share insurer approved by the Director of the Department of Consumer and Business Services, and that is subordinate to all other claims against the credit union, including claims of creditors, owners of share accounts and the National Credit Union Administration or another insurer approved by the Director of the Department of Consumer and Business Services. Secondary capital accounts that the credit union issues in accordance with this section are equity as defined in ORS 723.001 for the purposes of ORS 723.631 and for any other purpose. (3) The powers set forth in this section are in addition to the powers the credit union has under ORS 723.152. [2007 c.343 §5; 2021 c.97 §82]
OR Rev Stat § 723.156 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.156 - Exercise of powers of federal credit union.

(1) Notwithstanding any other provision of law, in addition to the powers and authorities provided under the laws of this state, a credit union may exercise any of the powers that were available to a federal credit union as of January 1, 2022. At least 45 days before exercising a power under this subsection, a credit union shall provide to the Director of the Department of Consumer and Business Services written notice of the credit union’s intent to exercise the power. The notice must describe the power and specify the statutory or regulatory authority or other legal basis for the federal credit union power the credit union intends to exercise. (2) Notwithstanding any other provision of law, in addition to the powers and authorities provided under the laws of this state, a credit union may, after obtaining approval from the director and subject to any limitations the director prescribes, exercise any of the powers conferred after January 1, 2022, upon a federal credit union that does business in this state and that is subject to the regulations of the administrator of the National Credit Union Administration or the successor or successors of the administrator, or any of the powers conferred on a credit union that is chartered under the laws of another state and does business in this state, if the director finds that exercising the powers: (a) Serves the public and members’ convenience and advantage; and (b) Equalizes and maintains the quality of competition among credit unions chartered under the laws of this state, of another state and under federal law. [1975 c.652 §17; 1991 c.635 §6; 1997 c.832 §3; 2013 c.480 §2; 2017 c.35 §4; 2019 c.45 §2; 2021 c.125 §1]
OR Rev Stat § 723.176 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.176 - Business and nonbusiness organizations as members.

Business and nonbusiness organizations composed of individuals who are eligible for membership, or whose employees are eligible for membership, may be admitted to membership in the same manner and under the same conditions as individuals. [1975 c.652 §19; 1987 c.286 §3; 1999 c.185 §56; 2001 c.308 §3]
OR Rev Stat § 723.182 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.182 - Other credit unions as members.

Any credit union organized under the laws of this state may permit membership of any other credit union organized under the laws of this state, of any other state or of the United States. [1975 c.652 §20]
OR Rev Stat § 723.184 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.184 - State deemed member with respect to deferred compensation deposits; restrictions on membership.

Notwithstanding any other provision of this chapter, a credit union may receive deposits from the State of Oregon of moneys belonging to the Deferred Compensation Fund established under ORS 243.411. With respect to such deposits, the State of Oregon shall be deemed to be a member of the credit union, except that the state shall not be entitled to vote, hold office or otherwise participate in the management or operation of the credit union. [1977 c.721 §17; 1997 c.179 §31]
OR Rev Stat § 723.186 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.186 - Members who leave field of membership.

A member who leaves the credit union’s field of membership may be permitted to retain the member’s membership in the credit union. [1975 c.652 §21; 2009 c.234 §4]
OR Rev Stat § 723.192 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.192 - Individual liability.

The members of the credit union shall not be personally or individually liable for the payment of the debts of the credit union. [1975 c.652 §22; 1981 c.903 §10]
OR Rev Stat § 723.196 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.196 - Meeting of members; mail or electronic ballots.

(1) The annual meeting and any special meetings of the members of the credit union shall be held at the time and in the manner indicated by the bylaws. (2) At meetings described in subsection (1) of this section, a member has one vote, irrespective of the amount of that member’s shareholdings. A member may not vote by proxy, but a member may vote by mail or electronic ballot if allowed by the bylaws of the credit union. The board of directors shall establish procedures to safeguard the confidentiality and integrity of the voting process. As used in this subsection, "electronic" has the meaning given that term in ORS 84.004. (3) The board may establish a minimum age as a qualification of eligibility to vote at meetings of the members. [1975 c.652 §23; 1999 c.185 §12; 2005 c.95 §5; 2019 c.45 §3]
OR Rev Stat § 723.202 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.202 - Withdrawal and expulsion of members; request for reinstatement.

(1) Subject to subsection (2) of this section, a credit union may expel any member of the credit union who: (a) Has not carried out the member’s engagements with the credit union; (b) Creates an undue risk of loss to the credit union, as determined in accordance with the bylaws of the credit union; (c) Has been convicted of a criminal offense; (d) Fails to comply with the provisions of this chapter or of the credit union’s articles, bylaws or policies; (e) Threatens, harasses or abuses any member, employee, board or committee member or agent of the credit union; or (f) Habitually neglects to pay the member’s debts or becomes insolvent or bankrupt. (2) A credit union that expels a member shall inform the member in writing of the reasons for the expulsion and give the expelled member reasonable opportunity to request the credit union’s board of directors to reinstate the member. Members of a credit union who withdraw or are expelled shall not be relieved of any liability to the credit union. The amounts paid in on shares or deposited by such members, together with any dividends credited to their shares and any interest which has accrued on their deposits, shall be repaid to them in the order of their withdrawal or expulsion, as funds become available therefor, but the credit union may deduct from such payments any sums due to the credit union from such members. [1975 c.652 §24; 1985 c.762 §94; 1999 c.185 §13; 2007 c.343 §6; 2017 c.35 §2]
OR Rev Stat § 723.252 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.252 - Election of directors and appointment of credit committee and credit manager.

(1) A credit union must be directed by a board that consists of an odd number of directors, at least five in number, who are elected by and from the credit union’s members in the manner provided in the credit union’s bylaws. Members of the board hold office for such terms as the bylaws provide. (2) The board of directors shall appoint a supervisory committee of not less than three members at the organizational meeting and within 60 days following each annual meeting of the members for such terms as the bylaws provide. (3) The board of directors shall appoint a credit committee that consists of an odd number not less than three for such terms as the bylaws provide. The members of the credit union may instead elect the members of the credit committee from among the membership of the credit union at the annual members’ meeting. In lieu of the credit committee, the board of directors may appoint a credit manager. (4) The board of directors may appoint temporary or successor directors or temporary or successor credit committee or supervisory committee members to serve in place of absent directors or committee members. [1975 c.652 §25; 1997 c.832 §4; 2009 c.234 §5]
OR Rev Stat § 723.256 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.256 - Record of board and committee members.

Within such time as the Director of the Department of Consumer and Business Services may establish, a record of the names and addresses of the members of the board, committees and all officers of the credit union shall be filed with the director on forms provided and in the manner prescribed by the director. [1975 c.652 §26; 1991 c.635 §7; 1999 c.185 §14]
OR Rev Stat § 723.262 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.262 - Vacancies.

(1) Subject to subsection (2) of this section, the board of directors may fill any vacancies occurring in the board until successors elected at the next annual meeting have qualified. (2) If a vacancy occurring in the board reduces the number of directors to five or fewer, the board shall fill the vacancy until a successor elected at the next annual meeting has qualified. (3) The board shall also fill vacancies in the credit and supervisory committees or in the office of credit manager. [1975 c.652 §27; 2005 c.95 §6]
OR Rev Stat § 723.266 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.266 - Compensation of officials.

A credit union may pay to the credit union’s directors and supervisory committee members reasonable compensation for service as directors and supervisory committee members and may reimburse directors, supervisory committee members and other committee members while the directors or committee members are on official business for necessary expenses incidental to performing the official business. [1975 c.652 §28; 1991 c.635 §8; 2015 c.458 §3]
OR Rev Stat § 723.272 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.272 - Conflicts of interest.

No director, committee member, officer, agent or employee of the credit union shall in any manner, directly or indirectly, participate in the deliberation upon or the determination of any question affecting pecuniary interest or the pecuniary interest of any corporation, partnership or association (other than the credit union) in which the director, committee member, officer, agent or employee is directly or indirectly interested. [1975 c.652 §29]
OR Rev Stat § 723.276 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.276 - Executive officers.

(1) At the organizational meeting of the board of directors and within 60 days after each annual meeting of the members, the directors shall elect an executive officer, whom the directors may designate as chairperson of the board or president, a vice chairperson of the board or one or more vice presidents, a treasurer and a secretary. The treasurer and the secretary may be the same individual. The persons that the board of directors elects are the executive officers of the corporation. (2) The terms of the officers are one year, unless the bylaws prescribe a different term. Officers may continue to serve until the successors of the officers are chosen and have duly qualified. (3) The bylaws must prescribe the duties of the officers. [1975 c.652 §30; 1987 c.286 §4; 1991 c.635 §9; 2009 c.234 §6; 2013 c.480 §3; 2019 c.45 §1]
OR Rev Stat § 723.282 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.282 - Authority of directors.

The board of directors shall have the general direction of the business affairs, funds and records of the credit union. [1975 c.652 §31]
OR Rev Stat § 723.286 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.286 - Executive committee.

From the persons elected to the board, the board may appoint an executive committee of not less than three directors who may be authorized to act for the board in all respects, subject to such conditions and limitations as are prescribed by the board. [1975 c.652 §32]
OR Rev Stat § 723.292 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.292 - Meetings of directors; rules.

The board of directors of a credit union shall hold regular meetings. The Director of the Department of Consumer and Business Services may specify by rule the minimum frequency of meetings of the board of directors. [1975 c.652 §33; 1999 c.185 §15; 2009 c.234 §7; 2011 c.327 §1; 2017 c.35 §3]
OR Rev Stat § 723.296 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.296 - Duties of directors; delegation of duties.

(1) The board of directors shall manage the business and affairs of the credit union. The duties of the board include, but are not limited to, the duties listed in this section. The board may not delegate duties listed in subsection (2) of this section. The board may delegate the duties listed in subsection (3) of this section to a committee, officer or employee of the credit union, who shall provide appropriate information to the board regarding the exercise of the duties. (2) The board shall: (a) Establish the requirements for membership in the credit union, including the par value, if any, of a share; (b) Authorize interest refunds, if any, to members from income earned and received in proportion to the interest the members pay on classes of loans and under conditions that the board prescribes; (c) Authorize the employment of persons necessary to carry on the business of the credit union and fix the compensation of the manager or chief executive officer; (d) Authorize the conveyance of property; (e) Suspend members of the credit or supervisory committee for failing to perform the members’ duties; (f) Appoint any special committees the board considers necessary; (g) Limit the number of shares and the amount of deposits that a member may own and ensure that limitations adopted under this subsection apply alike to all members; and (h) Establish policies and controls regarding the investment of surplus funds. (3) In addition to the duties listed in subsection (2) of this section, and subject to subsection (1) of this section, the board shall: (a) Act upon applications for membership. If this duty is delegated, a record of an approval or denial of membership must be made available to the board. A person to whom a committee, officer or employee of the credit union denies membership may appeal the denial to the board. (b) Purchase a blanket fidelity bond, in accordance with ORS 723.122. (c) Determine from time to time the interest rate or rates that shall be charged on loans. (d) Declare dividends on shares and share certificates in accordance with the provisions of the bylaws and determine the prospective dividend rate to be paid on shares and share certificates and the interest rate or rates that will be paid on deposits and deposit certificates. (e) Designate a depository or depositories for the funds of the credit union. (f) Borrow or lend money to carry out the functions of the credit union. [1975 c.652 §34; 1981 c.412 §7; 1985 c.762 §95; 1985 c.801 §3; 1987 c.286 §5; 1997 c.832 §5; 2005 c.95 §7; 2013 c.480 §4]
OR Rev Stat § 723.302 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.302 - Duties of credit committee.

The credit committee shall have the general supervision of all loans to members. [1975 c.652 §35]
OR Rev Stat § 723.306 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.306 - Meetings of credit committee.

The credit committee shall meet as often as the business of the credit union requires and not less frequently than once a month to consider applications for loans. No loan shall be made unless it is approved by a majority of the committee who are present at the meeting at which the application is considered. [1975 c.652 §36]
OR Rev Stat § 723.312 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.312 - Loan officers.

(1) The credit committee may appoint one or more loan officers and delegate the power to approve or disapprove loans, subject to such limitations or conditions as the credit committee prescribes. (2) Loan applications not approved by a loan officer may be reviewed by the credit committee. [1975 c.652 §37; 1987 c.286 §6]
OR Rev Stat § 723.316 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.316 - Chief credit officer.

The board of directors of a credit union may appoint a chief credit officer in lieu of a credit committee to approve or disapprove loans under conditions that the board prescribes. If the board appoints a chief credit officer in lieu of a credit committee, the provisions of ORS 723.302 to 723.312 do not apply and the credit union may not make a loan unless the chief credit officer approves the loan, except that the chief credit officer may appoint one or more loan officers with the power to approve loans subject to limitations or conditions that the chief credit officer prescribes. [1975 c.652 §38; 2011 c.327 §2]
OR Rev Stat § 723.322 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.322 - Duties of supervisory committee; verification of member accounts; rules.

(1) The supervisory committee shall make or cause to be made a comprehensive annual audit of the books and affairs of the credit union and shall submit a report of the audit to the board of directors and the Director of the Department of Consumer and Business Services and a summary of that report to the members at the next annual meeting of the credit union. It shall make or cause to be made such supplementary audits or examinations as it deems necessary or as are required by the director or by the board of directors, and submit reports of these supplementary audits to the board of directors. (2) The supervisory committee shall cause the accounts of the members to be verified with the records of the credit union from time to time in accordance with subsection (3) of this section. This verification shall be done not less frequently than every two years. (3) Verification of members’ accounts shall be made using either of the following methods: (a) A controlled verification of 100 percent of members’ share and loan accounts; or (b) A controlled random statistical sampling method in accordance with rules that the director may prescribe. (4) Records of accounts verified shall be maintained and retained until the next verification of members’ accounts is completed. [1975 c.652 §39; 1991 c.635 §10]
OR Rev Stat § 723.326 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.326 - Suspension and removal of officials; restrictions on service as director.

(1) The supervisory committee by a unanimous vote may suspend any member of the board until the next members’ meeting. The next members’ meeting must be held not less than 14 nor more than 45 days after the suspension. At the meeting the members shall decide whether to remove the suspended officer or board member. (2) The board may remove any member of the supervisory committee for failing to perform duties prescribed in this chapter or in the credit union’s articles of incorporation, bylaws or policies. (3) A person may not serve as a director if the person has defaulted on payment of a voluntary obligation to the credit union or has otherwise caused the credit union to incur a financial loss. [1975 c.652 §40; 1985 c.762 §96; 1999 c.185 §16; 2005 c.95 §8; 2013 c.480 §5]
OR Rev Stat § 723.338 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.338 - Duty to notify law enforcement officers of violations of Oregon Credit Union Act; investigations; costs.

(1) If a director, officer or committee member of a credit union has reason to believe that a person has violated any provision of the Oregon Credit Union Act for which criminal prosecution is provided, such official shall give the information relative to the violation to the appropriate federal, state or local law enforcement officer having jurisdiction of the violation, and to the Director of the Department of Consumer and Business Services. (2) If the matter is referred to the Attorney General or to a district attorney, such official promptly shall investigate the violation and institute such action against the person as the information and investigation requires or justifies. The cost of the investigation and action shall be paid by the county or state in the manner in which other criminal actions are paid. [1979 c.88 §33]
OR Rev Stat § 723.402 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.402 - Shares.

(1) Shares may be subscribed to, paid for and transferred in such manner as the bylaws prescribe. (2) A certificate need not be issued to denote ownership of a share in a credit union. [1975 c.652 §42; 1985 c.801 §4; 1987 c.158 §153; 1987 c.650 §7]
OR Rev Stat § 723.406 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 723 - Credit Unions|Section 723.406 - Dividends.

(1) At such intervals and for such periods as the board of directors may authorize, and after provision for the required reserves, the board of directors may declare dividends to be paid on shares or share certificates. Dividends may be paid at various rates, or not paid at all, with due regard to the conditions that pertain to each class of share. (2) Subject to the approval of the board of directors, accounts closed between dividend periods may be credited with dividends at the rate set by the board of directors. [1975 c.652 §43; 1985 c.206 §1; 1985 c.801 §5; 1995 c.319 §2; 2001 c.308 §4]