Oregon § 723.631 Regular reserve; reserve for loan losses; rules

Oregon Statutes

§ 723.631 — Regular reserve; reserve for loan losses; rules

Oregon § 723.631

Vol.18

Title 54Credit Unions, Lending Institutions and Pawnbrokers

Ch. 723Credit Unions

This text of Oregon § 723.631 (Regular reserve; reserve for loan losses; rules) 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. § 723.631 (2026).

Text

(1)A credit union shall establish and maintain a regular reserve for contingencies. The Director of the Department of Consumer and Business Services may adopt rules prescribing:

(a)Minimum net worth requirements for credit unions; and

(b)Actions a credit union must take when the net worth of the credit union falls below the applicable minimum net worth requirement.

(2)In addition to the regular reserve required in subsection (1) of this section, a credit union shall establish a reserve for loan losses in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board or a successor organization.

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(1) A credit union shall establish and maintain a regular reserve for contingencies. The Director of the Department of Consumer and Business Services may adopt rules prescribing:
(a) Minimum net worth requirements for credit unions; and
(b) Actions a credit union must take when the net worth of the credit union falls below the applicable minimum net worth requirement.
(2) In addition to the regular reserve required in subsection (1) of this section, a credit union shall establish a reserve for loan losses in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board or a successor organization.