Insofar as ORS 722.116 and 722.118 are not inconsistent with federal law, they apply to a federal association whose principal office is located in this state and to the members thereof, except that the request permitted by ORS 722.118 (5) shall be submitted to the Federal Housing Finance Board, Washington, D.C., in the case of a federal association and forwarded to members only upon the order and direction of that board. [1975 c.582 §66; 1999 c.107 §6]
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