Or. Admin. Code § 441-720-0215

Current through Register Vol. 64, No. 1, January 1, 2025

Section 441-720-0215 - Procedures Required Prior to Exercise of Certain Investment Powers

(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.

Or. Admin. Code § 441-720-0215

FID 5-1986, f. & ef. 8-27-86; Renumbered from 805-072-0260; Renumbered from 441-710-0180, FCS 2-2005, f. & cert. ef. 8-25-05

Stat. Auth.: ORS 723.102

Stats. Implemented: ORS 723.156 & 723.602