Oregon § 723.412 Deposit and deposit certificate accounts; interest; priority

Oregon Statutes

§ 723.412 — Deposit and deposit certificate accounts; interest; priority

Oregon § 723.412

Vol.18

Title 54Credit Unions, Lending Institutions and Pawnbrokers

Ch. 723Credit Unions

This text of Oregon § 723.412 (Deposit and deposit certificate accounts; interest; priority) 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. § 723.412 (2026).

Text

(1)A credit union may receive savings in deposit and deposit certificate accounts from its members and other credit unions, subject to such conditions as the board of directors establishes.

(2)Deposit and deposit certificate accounts differ from shares and share certificates in that a predeclared rate of return, as determined from time to time at such rates and upon such classes of deposit and deposit certificate accounts as are established by the board of directors, shall be established on deposit accounts.

(3)Interest may be paid on deposits and deposit certificates at various rates with due regard to the conditions that pertain to each type of account such as minimum balance, notice and time requirements.

(4)In the event of liquidation of a credit union, shares and share certificate

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(1) A credit union may receive savings in deposit and deposit certificate accounts from its members and other credit unions, subject to such conditions as the board of directors establishes.
(2) Deposit and deposit certificate accounts differ from shares and share certificates in that a predeclared rate of return, as determined from time to time at such rates and upon such classes of deposit and deposit certificate accounts as are established by the board of directors, shall be established on deposit accounts.
(3) Interest may be paid on deposits and deposit certificates at various rates with due regard to the conditions that pertain to each type of account such as minimum balance, notice and time requirements.
(4) In the event of liquidation of a credit union, shares and share certificates shall be subordinate to the claims of depositors and other creditors.