This text of Oregon § 723.118 (Disclosure of records of department; exemptions) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(1)The Director of the Department of Consumer and Business Services shall receive and file in the Department of Consumer and Business Services all reports required under this chapter.
(2)Except as provided in subsection (3) of this section, the records of the department pertaining to the administration of this chapter are available for public inspection unless the director determines in a particular instance that the credit union or the directors, members, officers or employees of the credit union have an interest in keeping the records confidential that outweighs the public interest in disclosing the records, or that the records are exempt from disclosure under ORS 192.338, 192.345 and 192.355. A determination by the director under this subsection is subject to review under ORS 192.311 Free access — add to your briefcase to read the full text and ask questions with AI
(1) The Director of the Department of Consumer and Business Services shall receive and file in the Department of Consumer and Business Services all reports required under this chapter.
(2) Except as provided in subsection (3) of this section, the records of the department pertaining to the administration of this chapter are available for public inspection unless the director determines in a particular instance that the credit union or the directors, members, officers or employees of the credit union have an interest in keeping the records confidential that outweighs the public interest in disclosing the records, or that the records are exempt from disclosure under ORS 192.338, 192.345 and 192.355. A determination by the director under this subsection is subject to review under ORS 192.311 to 192.478.
(3) Except as provided in subsections (4) and (5) of this section, the following records of the department are exempt from disclosure or production and shall be treated as confidential as provided in ORS 705.137:
(a) Examination reports and work papers, directives, orders and correspondence that relate to examination reports.
(b) Financial statements of and investigatory information concerning persons subject to investigation by the director under ORS 723.014 or 723.132.
(c) Proprietary information.
(d) Reviews of financial statements submitted to the director.
(e) The name of a member or borrower and the amount of shares, deposits or debts of a member or borrower.
(f) Correspondence, reports or other information obtained from or provided to the Financial Crimes Enforcement Network established by order of the United States Secretary of the Treasury.
(4) Notwithstanding subsection (3) of this section and except as otherwise provided in this subsection, the director may disclose a record that is specified in this subsection and that pertains to a credit union that has been liquidated under ORS 723.676 if the director determines in a particular instance that the public interest in disclosing the record outweighs the interests of the credit union or of the directors, members, officers or employees of the credit union in keeping the record confidential. The director may not disclose a record or portion of a record that contains proprietary information or information that relates to an individual’s financial activities or affairs unless the director concludes that the activities or affairs were a direct and substantial contributing factor in the failure of the credit union. This subsection applies to the following records of the department:
(a) Examination reports and work papers, directives, orders and correspondence that relate to examination reports.
(b) Investigatory information concerning persons subject to investigation by the director under ORS 723.014 or 723.132.
(c) Reviews of financial statements.
(d) Reports filed under ORS 723.106.
(5) Notwithstanding ORS 40.270, an officer of the department may be examined concerning records that are exempt from disclosure under subsection (2) or (3) of this section. The records are subject to production if the court before which a civil or criminal action is pending finds that the examination and production is essential for establishing a claim or defense. In making a finding under this subsection, if the court views the records, the court shall do so in camera.
(6) All records of the department pertaining to the condition of credit unions may be furnished to:
(a) The National Credit Union Administration.
(b) The Federal Home Loan Bank of which the credit union is a member or to which the credit union has applied for membership.
(c) The State Treasurer if the credit union is a depository of public fund deposits.
(d) The respective credit union.
(7) If the director is requested to disclose a record subject to this section and the record contains both material that is exempt from disclosure under this section or any other provision of law and material that is not exempt from disclosure, the director shall separate the exempt and nonexempt material and may disclose only the nonexempt material.