Removes requirement that credit union apply and pay fee to Director of Department of Consumer and Business Services in order to open additional places of business. Removes requirement that credit union apply and pay fee to Director of Department of Consumer and Business Services in order to open additional places of business.
Removes limitation on credit union membership that is conditioned on member subscribing for and paying initial installment on one or more shares of credit union. Provides that foster parent or legal guardian of eligible member may also be member of credit union.
Provides that credit union may pay directors and supervisory committee members of credit union reasonable compensation for directors' or committee members' services and may reimburse directors and committee members for necessary expenses in performing credit union's official business.
Repeals requirement that credit union that provides membership to employees of State of Oregon also provide membership to person that serves as foster parent in home that Department of Human Services certifies or that maintains developmental disability child foster home that department certifies.
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SB 582
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