Oregon § 723.316 Chief credit officer

Oregon Statutes

§ 723.316 — Chief credit officer

Oregon § 723.316

Vol.18

Title 54Credit Unions, Lending Institutions and Pawnbrokers

Ch. 723Credit Unions

This text of Oregon § 723.316 (Chief credit officer) 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.

Bluebook

Or. Rev. Stat. § 723.316 (2026).

Text

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.

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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.