Or. Admin. R. 441-720-0215
Current through Register Vol. 63, No. 9, September 1, 2024
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. R. 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. 8-25-05Stat. Auth.: ORS 723.102
Stats. Implemented: ORS 723.156 & 723.602