Oregon Statutes - Chapter 722 - Savings Associations - Section 722.136 - Ascertainment of earnings; payment of expenses.

The gross earnings of a savings association shall be ascertained at least annually on an accrual basis according to generally accepted accounting principles. The expenses of an association shall be paid first from its gross earnings, then from earned surplus and finally from capital surplus. With the prior approval of the Director of the Department of Consumer and Business Services, expenses may be paid from stated capital or from any expense fund of a mutual association. [Formerly 722.145]

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Last modified: August 7, 2008