Oregon Administrative Rules
Chapter 441 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, FINANCE AND SECURITIES REGULATION
Division 720 - CREDIT UNIONS
Section 441-720-0335 - Calculation of the Aggregate 15% Lending Limit

Universal Citation: OR Admin Rules 441-720-0335

Current through Register Vol. 63, No. 9, September 1, 2024

For purposes of complying with the provisions of OAR 441-720-0330, a credit union must:

(1) Calculate the numerator by adding together the credit union's total outstanding balance(s) of loans and any unfunded commitments to any one member (including those loans that the member guarantees) and groups of associated borrowers. From this amount, subtract any loans fully secured by shares, including deposits, in the credit union or in another financial institution; and

(2) Divide the numerator by the net worth of the credit union.

Statutory/Other Authority: ORS 723.102

Statutes/Other Implemented: ORS 723.152, 723.156 & 723.512

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