Oregon Statutes - Chapter 723 - Credit Unions - Section 723.252 - Election or appointment of officials.

(1) The credit union shall be directed by a board consisting of an odd number of directors, at least five in number, to be elected by and from the members in the manner provided in the credit unionís bylaws. All members of the board shall hold office for such terms as the bylaws provide.

(2) The board of directors shall appoint a supervisory committee of not less than three members at the organizational meeting and within 30 days following each annual meeting of the members for such terms as the bylaws provide.

(3) The board of directors shall appoint a credit committee consisting of an odd number, not less than three in number, for such terms as the bylaws provide, or said credit committee may be elected at the annual membersí meeting by and from the members, or in lieu of a credit committee, a credit manager may be appointed.

(4) The board of directors may appoint alternate directors, credit committee or supervisory committee members to serve in place of absent officials. [1975 c.652 §25; 1997 c.832 §4]

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Last modified: August 7, 2008