Oregon § 723.434 Share draft accounts

Oregon Statutes

§ 723.434 — Share draft accounts

Oregon § 723.434

Vol.18

Title 54Credit Unions, Lending Institutions and Pawnbrokers

Ch. 723Credit Unions

This text of Oregon § 723.434 (Share draft accounts) 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. § 723.434 (2026).

Text

(1)A credit union may allow a member holding a regular share or deposit account to use that account as a share draft account as provided in this section, subject to conditions established by the board of directors.

(2)As used in this section:

(a)“Share draft” means a negotiable or nonnegotiable draft used to withdraw shares or deposits from a share draft account.

(b)“Share draft account” means any regular share account or deposit account from which the credit union allows shares or deposits to be withdrawn by means of a share draft or other order.

(3)The terms “share draft” and “share draft account” may encompass accounts whether the underlying account is a share account or a deposit account, without changing the type of account.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A credit union may allow a member holding a regular share or deposit account to use that account as a share draft account as provided in this section, subject to conditions established by the board of directors.
(2) As used in this section:
(a) “Share draft” means a negotiable or nonnegotiable draft used to withdraw shares or deposits from a share draft account.
(b) “Share draft account” means any regular share account or deposit account from which the credit union allows shares or deposits to be withdrawn by means of a share draft or other order.
(3) The terms “share draft” and “share draft account” may encompass accounts whether the underlying account is a share account or a deposit account, without changing the type of account.