OAR 441-710-0070
Procedures for Amending Bylaws on Field of Membership

(1)

When a credit union wishes to expand its field of membership, it shall amend its bylaws to describe the group or groups to be added to the field of membership. The proposed amendment to the bylaws and the application for approval of the amendment filed with the Director shall include:

(a)

The bylaw that defines the field of membership of the credit union with the text of the proposed amendment to the bylaw showing the new language underlined and deleted language, if any, bracketed;

(b)

The credit union’s most recent financial statement;

(c)

An updated plan of business for the credit union that takes into account the implications of the anticipated increased membership, deposits, responsibilities and effect on capital level of the credit union;

(d)

An updated budget;

(e)

If the amendment proposes to add a separate employment group to the field of membership; the names and addresses of individuals who represent the group;

(f)

If the amendment proposes to add a group with a separate bond of occupation or association, the credit union shall submit evidence:

(A)

That the group does not contain more than 3,000 members;

(B)

That the group could not feasibly or reasonably establish a new credit union due to a lack of volunteer resources, financial resources or other factors important to the likelihood of successful formation of a new credit union; or

(C)

That the group proposes to transfer to the credit union in connection with a merger, consolidation or transfer approved by the director, or in connection with the liquidation of another credit union.

(g)

Any other evidence in support of the application, including relevant correspondence from the group to be added.

(2)

Any requirement in section (1) of this rule may be waived by the Director if the requirement is not necessary for the purposes of that application.

Source: Rule 441-710-0070 — Procedures for Amending Bylaws on Field of Membership, https://secure.sos.state.or.us/oard/view.action?ruleNumber=441-710-0070.

441–710–0000
Definitions 441–710–0020
Membership in General 441–710–0035
Community Charter Applications 441–710–0037
Procedures for Amending Bylaws on Community Charter Field of Membership 441–710–0070
Procedures for Amending Bylaws on Field of Membership 441–710–0071
Application to Serve Former Occupational Groups and Associational Members 441–710–0075
Underserved Areas 441–710–0085
Guidelines for a Low-Income Designated Credit Union 441–710–0240
Limitations on Ownership of Fixed Assets 441–710–0260
Investment in Fixed Assets 441–710–0270
Investment in Premises 441–710–0305
Compensation of Boards of Directors and Supervisory Committee Members 441–710–0325
Housing Agency Low Income Rental Housing Fund Client Trust Accounts 441–710–0400
Loans to Officials 441–710–0450
Mergers of Community Charters 441–710–0460
Notice to Members of Merger Plan 441–710–0500
Fees and Charges Credit Unions Pay the Director 441–710–0505
Amendment and Late Charge Fees 441–710–0510
Annual Audit 441–710–0515
Required “Additional Reports” Defined 441–710–0520
Reports and Filings When Credit Union Invests in CUSO 441–710–0525
Duty to Report Changes in Accounting Systems, Methods or Procedures 441–710–0527
Regular Meetings of Credit Union Board of Directors 441–710–0530
Accrual Accounts, When Required 441–710–0535
Back-Up Records 441–710–0540
Contents of Foreclosure Notices

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

OAR 441-710-0070 Procedures for Amending Bylaws on Field of Membership

(1)

(a)

(b)

(c)

(d)

(e)

(f)

(A)

(B)

(C)

(g)

(2)

OAR 441-710-0070
Procedures for Amending Bylaws on Field of Membership