Oregon Code § 723.536·Enacted ·Last updated March 01, 2026
Statute Text
Loans
to nonmembers; personal liability.
Any officer, director or member of a committee of a credit union who knowingly
permits a loan to be made or participates in a loan to a nonmember of the
credit union shall be primarily liable to the credit union for the amount thus
illegally loaned. The illegality of such loan shall be no defense in any action
by the credit union to recover the amount loaned. [1975 c.652 §59]
Plain English Explanation
This Oregon statute addresses Loans
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 723.536
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Loans
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The formal citation is Oregon Code § 723.536. Use this format in legal documents and court filings.
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