Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 720 - CREDIT UNIONS
Section 441-720-0215 - Procedures Required Prior to Exercise of Certain Investment Powers
Universal Citation: OR Admin Rules 441-720-0215
Current through Register Vol. 63, No. 9, September 1, 2024
(1) A credit union shall not exercise the investment powers granted credit unions by OAR 441-720-0220 and 441-720-0225, unless it first adopts investment procedures and policies covering the type of investment programs it intends to engage in.
(2) The investment policies and procedures shall:
(a) Describe the particular type of
investment it intends to engage in, summarize the procedures and policies
developed for each program and describe investment objectives for the
program;
(b) Name the person who
will do the investing and any professionals who will be used as adviser;
and
(c) Show the ability and
training of the person that qualifies the person to do the investing.
Stat. Auth.: ORS 723.102
Stats. Implemented: ORS 723.156 & 723.602
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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