State Treasurer rule setting maximum liability for credit union depositories
For any period of time during which fewer than 10 credit unions are subject to pledge agreements with the State Treasurer and a custodian under ORS 295.008 (Conditions for acting as custodian or depository), the State Treasurer, notwithstanding ORS 295.001 (Definitions for ORS 295.001 to 295.108) (12), by rule may set the maximum liability for a credit union depository at 20 percent of the greater of:
(1) All uninsured public funds deposits the credit union depository holds, as shown on the date of the credit union depository’s most recent treasurer’s report; or
(2) The average of the balances of all uninsured public funds deposits the credit union depository holds, as shown on the credit union depository’s last two immediately preceding treasurer reports. [2010 c.101 §13b]
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