Oregon Code § 723.631·Enacted ·Last updated March 01, 2026
Statute Text
Regular reserve; reserve for loan losses; rules.
(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. [1981 c.192 §38 (enacted in lieu of
723.632); 1995 c.319 §3; 2005 c.95 §10; 2009 c.234 §9]
Plain English Explanation
This Oregon statute addresses Regular reserve; reserve for loan losses; rules. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 723.631
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Regular reserve; reserve for loan losses; rules. Read the full statute text above for details.
This page reflects the current text as of our last update. Always verify with the official Oregon legislature website for the most current version.
The formal citation is Oregon Code § 723.631. Use this format in legal documents and court filings.
Browse related sections using the links below, or search all Oregon statutes on FlawFinder.