(1) A central credit union shall have all of the rights and powers of any other credit union organized under this chapter and the additional rights and powers specified in this section, notwithstanding any limitations or restrictions found elsewhere in this chapter.

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Terms Used In Oregon Statutes 723.716

  • Director: means the Director of the Department of Consumer and Business Services. See Oregon Statutes 723.001
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

(2) A central credit union may make loans to other credit unions, purchase shares of and make deposits in other credit unions and, with the approval of the director, obtain or acquire the assets and liabilities of any credit union operating in this state that enters into liquidation.

(3) A central credit union may invest in and grant loans to associations of credit unions, central funds of credit unions or organizations chartered to provide service to credit unions.

(4) A central credit union may borrow money from any source. It may also issue debentures pursuant to a plan approved by the director. The debentures must be subordinate to the deposits and shares of the credit union. [1975 c.652 § 76; 1985 c.762 § 102]

 

CORPORATE CENTRAL CREDIT UNION

 

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