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2019 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 295 - Depositories of Public Funds and Securities
Section 295.012 - State Treasurer rule setting maximum liability for qualified credit union depositories.
Universal Citation: OR Rev Stat § 295.012 (2019)
For any period of time during which fewer than 10 credit unions are qualified depositories, the State Treasurer, notwithstanding ORS 295.001 (14), by rule may set the maximum liability for a credit union that holds uninsured public funds at 20 percent of the greater of:
(1) All uninsured public funds deposits the credit union holds, as shown on the date of the credit union’s most recent treasurer’s report; or
(2) The average of the balances of all uninsured public funds deposits the credit union holds, as shown on the credit union’s last two immediately preceding treasurer reports. [2010 c.101 §13b; 2019 c.587 §7]
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