Oregon Code § 723.412·Enacted ·Last updated March 01, 2026
Statute Text
Deposit and deposit certificate accounts; interest; priority.
(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. [1975 c.652 §44;
1985 c.801 §8]
Plain English Explanation
This Oregon statute addresses Deposit and deposit certificate accounts; interest; priority. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 723.412
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Deposit and deposit certificate accounts; interest; priority. Read the full statute text above for details.
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