Or. Admin. Code § 441-710-0535

Current through Register Vol. 63, No. 11, November 1, 2024

Section 441-710-0535 - Back-Up Records; Off-Site Storage Required

(1) To insure the viability and reasonable continuity of the credit union in the event of a catastrophe that would destroy or make its records at the place of business useless, every credit union shall store off-site records that could be used to reconstruct the credit union's records. The credit union shall, at the credit union, maintain a log of the records stored off-site.

(2) The adequacy of the plan of each credit union for complying with this rule is subject to the approval of the Director. Each credit union shall submit its plan, and any major revision of its plan, to the Director for approval. The submission shall identify the kinds of records to be stored off-site, the procedure used to collect the records and to transport them to storage, and the place where stored.

BB 4-1982, f. 8-24-82, ef. 9-1-82; Renumbered from 805-072-0175; Renumbered from 441-710-0140, FCS 2-2005, f. & cert. ef. 8-25-05

Stat. Auth.: ORS 723.116

Stats. Implemented: ORS 723.116