Oregon Statutes - Chapter 723 - Credit Unions - Section 723.156 - Exercise of powers of federal credit union.

Notwithstanding any other provision of law, a credit union may, upon prior approval by the Director of the Department of Consumer and Business Services and subject to any limitations prescribed by the director, exercise any of the powers conferred upon a federally chartered credit union doing business in this state that is subject to the regulations of the administrator of the National Credit Union Administration or the successor or successors of the administrator, if the director finds that the exercise of the power:

(1) Serves the public and membersí convenience and advantage; and

(2) Equalizes and maintains the quality of competition between state chartered credit unions and federally chartered credit unions. [1975 c.652 §17; 1991 c.635 §6; 1997 c.832 §3]

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Last modified: August 7, 2008