2015 ORS 723.470¹
Checks drawn by agents presumed to be in authorized manner

If a person who owns a share or deposit account subject to check authorizes another person as agent to draw checks against the account, the credit union, in the absence of written notice to the contrary, may presume that any check drawn by the agent in the manner authorized by the terms and conditions of the account, including checks drawn to the personal order of the agent, is drawn for a purpose authorized by the principal and within the scope of the authority conferred upon the agent. [1999 c.185 §23]

Chapter 723

Atty. Gen. Opinions

Political contribu­tions by savings and loan associa­tion or a credit union, (1974) Vol 37, p 144; depositing deferred salaries of state employes in state-chartered credit unions, (1977) Vol 38, p 911; authority of state chartered credit unions to enlarge membership to include govern­mental units participating in deferred compensa­tion plans, (1977) Vol 38, p 1188


1 Legislative Counsel Committee, CHAPTER 723—Credit Unions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors723.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 723, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano723.­html (2015) (last ac­cessed Jul. 16, 2016).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.