Or. Admin. Code § 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.
Notes
Stat. Auth.: ORS 723.102
Stats. Implemented: ORS 723.156 & 723.602
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