OAR 441-720-0310
Implementation of Member Business Loan Program


(1)

It is the responsibility of the board of directors to:

(a)

Adopt specific member business loan policies and review them at least annually.

(b)

Send a copy of the policies to the Director prior to beginning the program.

(c)

Make certain that management of the credit union:

(A)

Utilizes the services of an individual with at least two years direct experience with the type of lending the credit union will be engaging in; except that

(B)

If the credit union is engaged in construction and development lending, the qualified individual must have five years direct experience.

(d)

The qualified individual does not have to be on staff, but the expertise must be readily available.

(e)

The experience requirement can be met through various approaches. For example, the credit union may use:

(A)

The services of a credit union service organization;

(B)

An employee of another credit union;

(C)

An independent contractor; or

(D)

Other third parties.

(2)

The actual decision to grant a loan must be made by the originating credit union.

(3)

A Credit Union Service Organization (CUSO) may not grant or fund a member business loan, but may provide member business loan services to a credit union.

Source: Rule 441-720-0310 — Implementation of Member Business Loan Program, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-720-0310.

441‑720‑0100
Scope and Application
441‑720‑0110
Definitions
441‑720‑0120
Risk Weights and Risk Categories
441‑720‑0130
Minimum Capital Ratio
441‑720‑0140
Procedures, Risk-Weight Ratios and Computations
441‑720‑0150
Required Reserve Transfers
441‑720‑0160
Fidelity Bond Coverage for Corporate Credit Union
441‑720‑0200
Purpose, Authority for Federal Tie-In Rules
441‑720‑0210
Adoption of Federal Regulations Concerning Purchase, Sale and Pledge of Eligible Obligations
441‑720‑0215
Procedures Required Prior to Exercise of Certain Investment Powers
441‑720‑0220
Investments in Investment and Borrowing Repurchase Agreements, Bankers Acceptances, Participation in Federal Funds Authorized
441‑720‑0225
Adoption of Federal Statutes, Rulings, Policy Regarding Mortgage Assumptions
441‑720‑0230
Adoption of Federal Statutes and Regulations Concerning Loan Participations
441‑720‑0300
Definitions
441‑720‑0305
Member Business Loan
441‑720‑0310
Implementation of Member Business Loan Program
441‑720‑0315
Member Business Loan Policies and Procedures
441‑720‑0320
Collateral and Security Requirements
441‑720‑0325
Recordkeeping Requirements
441‑720‑0330
Aggregate Loans to a Member or Associated Members
441‑720‑0335
Calculation of the Aggregate 15% Limit
441‑720‑0340
Aggregate Member Business Loan Limit for a Credit Union
441‑720‑0345
Exceptions to the Aggregate Member Business Loan Limit for a Credit Union
441‑720‑0350
Exception Procedure
441‑720‑0355
Construction and Development Lending
441‑720‑0360
Classification of Member Business Loans to Reserve for Potential Losses
441‑720‑0365
Minimum Reserves for Potential Loan Losses
441‑720‑0370
Prohibited Member Business Loans
441‑720‑0375
Available Waivers for Specific Loan Types
441‑720‑0380
Waiver Procedure
Last Updated

Jun. 8, 2021

Rule 441-720-0310’s source at or​.us