OAR 441-720-0370
Prohibited Member Business Loans


(1)

A credit union may not grant a member business loan to the following:

(a)

The credit union’s chief executive officer;

(b)

Any assistant chief executive officers;

(c)

The chief financial officer; or

(d)

Any associated member or immediate family member of anyone listed in subsections (a) through (c) of this section.

(2)

Equity agreement/Joint Ventures. The credit union may not grant a member business loan if any additional income received by the credit union or senior management employees is tied to the profit or sale of the business or commercial endeavor for which the loan is made.

(3)

Loans to directors. A credit union may not grant a member business loan to a director unless the board of directors approves in advance granting the loan and the director is recused from the decision making process.

Source: Rule 441-720-0370 — Prohibited Member Business Loans, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-720-0370.

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 441-720-0370’s source at or​.us