Or. Rev. Stat. § 723.522
Line of credit
Oregon · Oregon Revised Statutes Chapter 723 — Credit Unions · Status: effective
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- Citation
- Or. Rev. Stat. § 723.522, Line of credit, Oregon, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2530828
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Full text
The credit committee, credit manager, or loan officer may approve in advance upon their own motion or upon application by a member, a line of credit, and advances may be granted to such member within the limit of such extension of credit. Where a line of credit has been approved, no additional loan applications are required as long as the aggregate obligation does not exceed the limit of such extension of credit.