For any period of time during which fewer than 10 credit unions are qualified depositories, the State Treasurer, notwithstanding ORS 295.001 (14), by rule may set the maximum liability for a credit union that holds uninsured public funds at 20 percent of the greater of:

1. (1) All uninsured public funds deposits the credit union holds, as shown on the date of the credit union’s most recent treasurer’s report; or
2. (2) The average of the balances of all uninsured public funds deposits the credit union holds, as shown on the credit union’s last two immediately preceding treasurer reports.

[2010 c.101 §13b; 2019 c.587 §7]