2015 ORS 723.496¹
Right of credit union to setoff
  • amount

Without qualifying any other statutory or common law right to setoff or lien, and subject to any contractual provision, if a party to a multiple-party account is indebted to a credit union, the credit union has a right to setoff against the account in which the party has or had immediately before the death of the party a present right of withdrawal. The amount of the account subject to setoff is that proportion to which the debtor is, or was immediately before the death of the debtor, beneficially entitled and, in the absence of proof of net contributions, to an equal share with all parties having present rights of withdrawal. [1999 c.185 §36]

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.