2011 Oregon Revised Statutes
ORS Volume 16, Chapters 705 - 752
ORS Chapter 723
723.032 Places of business; fee; rules; mobile facilities.
(1) A credit union may establish a place of business or change the credit union s place of business within this state upon written notice to the Director of the Department of Consumer and Business Services.
(2) A credit union may establish additional places of business upon written application to the director. The application must be accompanied by a fee in an amount that the director sets by rule. The fee must be paid only with applications for the establishment of new places of business. Except as provided in subsection (3) of this section, mobile facilities described in subsection (3) of this section are new places of business. The fee is not required to be paid with applications relating to the acquisition or relocation of existing places of business. The director may approve or disapprove the application. If the director does not disapprove an application within 30 days after receiving a completed application, the application is approved.
(3) A credit union may establish one or more mobile facilities to engage in credit union operations. Mobile facilities of a credit union that have the membership described in ORS 723.172 (3)(a) may operate in this state or in other states. Mobile facilities of a credit union that have the membership described in ORS 723.172 (3)(b) may operate only within the well-defined local community, neighborhood or rural district served by the credit union. An application and fee are not required under this section for mobile facilities that exercise permissible credit union powers or engage in permissible credit union activities but that do not accept deposits.
(4) The director may limit or restrict a credit union s ability to establish additional places of business upon written notice to the credit union if the director determines that the credit union s safety and soundness would be adversely affected by an addition.
(5) A credit union may share office space with one or more credit unions and contract with a person or corporation to provide facilities or personnel. [1975 c.652 8; 1977 c.135 44; 1991 c.635 3; 1997 c.832 1; 1999 c.185 55; 2005 c.95 1; 2007 c.343 2; 2009 c.234 1]
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