Oregon Code § 723.316·Enacted ·Last updated March 01, 2026
Statute Text
Chief
credit officer.
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. [1975 c.652 §38; 2011 c.327 §2]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 723.316
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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