(1) When a credit union first invests in or loans funds to a CUSO, the credit union shall, within 30 days after the funds are first invested or loaned, file with the Director a copy of:
- (a) The charter, articles of association or incorporation, or partnership agreement, of the CUSO;
- (b) The bylaws of the CUSO; and
- (c) The most recent financial statement of the CUSO.
- (2) Any amendments of the documents described by section (1) of this rule shall be filed with the Director by the credit union within 30 days after the amendment becomes effective.
- (3) While a credit union has funds invested in or loaned to a CUSO, the credit union shall each year file the annual financial statement of the CUSO with the Director within 30 days after the statement is issued.
Statutory/Other Authority
ORS 723.102
Statutes/Other Implemented
ORS 723.106 & 723.602
History
Renumbered from 441-710-0100, FCS 2-2005, f. & cert. ef. 8-25-05
BB 1-1984, f. & cert. ef. 2-8-84, Renumbered from 805-072-0156