ORS § 711.470 — OR Code / Title 53 / Chapter 711 / Section 711.470
711.470 Subrogation rights of Federal Deposit Insurance Corporation
Status: in_force

If any Oregon stock bank in which the deposits are to any extent insured by the Federal Deposit Insurance Corporation is closed for the purpose of liquidation without adequate provision being made for the payment of its depositors and if the Federal Deposit Insurance Corporation pays or makes available for payment the insured deposit liabilities of the closed insured Oregon stock bank, the Federal Deposit Insurance Corporation is subrogated to all rights against the closed insured Oregon stock bank of the owners of deposits to the extent of any payments made by the corporation to the depositors. [Amended by 1973 c.797 §260; 1997 c.631 §247]

Source: Section 711.470 — Subrogation rights of Federal Deposit Insurance Corporation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.585 — OR Code / Title 53 / Chapter 708a / Section 708a.585
708A.585 Claims and judgments as assets
Status: in_force

An institution may not carry claims against the estates of insolvent persons or deceased or incompetent persons and judgments against any person as an asset on the institution’s books for more than two years, unless the Director of the Department of Consumer and Business Services grants a written extension of time. This section does not apply to loans an institution makes to the personal representative, guardian, conservator or trustee of any estate. [1997 c.631 §192; 2015 c.244 §70]

Source: Section 708A.585 — Claims and judgments as assets , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 716.910 — OR Code / Title 53 / Chapter 716 / Section 716.910
716.910 Report to director
Status: in_force

After the directors of an Oregon nonstock bank have filed their report and deposited the unclaimed funds with the State Treasurer as required under ORS 716.905 (Notice of intention to close) , the directors shall report their proceedings to the Director of the Department of Consumer and Business Services. Upon filing the report and the petition of the directors with the Director of the Department of Consumer and Business Services, the director shall order the charter surrendered, the directors discharged from liability accruing after the order, and the existence of the Oregon nonstock bank terminated. [Amended by 1973 c.797 §396; 1997 c.631 §362; 2019 c.678 §76]

Source: Section 716.910 — Report to director; termination of existence , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 714.075 — OR Code / Title 53 / Chapter 714 / Section 714.075
714.075 Reports of deposits held at branches
Status: in_force

Upon the call for a report of condition by the Director of the Department of Consumer and Business Services:

(1) Each Oregon commercial bank and Oregon savings bank shall report to the director the total deposits held at each of its branches; and

(2) Each non-Oregon institution and each federal bank that in either case holds deposits of the State of Oregon or any political subdivision thereof, or that underwrites bonds or other debt instruments issued by the state or any political subdivision thereof, shall report to the director the total deposits held at each of its branches located in the State of Oregon. [1997 c.631 §321]

Source: Section 714.075 — Reports of deposits held at branches , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 717.200 — OR Code / Title 53 / Chapter 717 / Section 717.200
717.200 Definitions
Status: in_force

As used in ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) , unless the context requires otherwise:

(1) “Applicant” means a person that files an application for a license under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) .

(2) “Authorized delegate” means a person that a licensee designates under the provisions of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) to sell or issue payment instruments or engage in the business of transmitting money on the licensee’s behalf.

(3) “Control” means possessing, directly or indirectly, the power to direct or cause the direction of a person’s management and policies, whether through ownership of voting securities, by contract or otherwise.

(4) “Controlling person” means any person in control of a licensee or applicant for a license.

(5) “Controlling shareholder” means any person, or group of persons acting in concert, that owns 25 percent or more of any voting class of an applicant’s stock.

(6) Intentionally left blank —Ed.

(a) “Electronic instrument” means a card or other tangible object for transmitting or paying money that contains a microprocessor chip, magnetic stripe or other means for storing information, that is prefunded and for which the value is decremented upon each use.

(b) “Electronic instrument” does not include a card or other tangible object that the issuer may redeem in the issuer’s goods or services.

(7) “Executive officer” means the licensee’s president, chairperson of the executive committee, senior officer responsible for the licensee’s business, chief financial officer and any other person who performs similar functions.

(8) “Licensee” means a person licensed under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) .

(9) “Material litigation” means any litigation that, according to generally accepted accounting principles, is significant to an applicant’s or licensee’s financial health and to which the applicant or licensee must refer in the applicant’s or licensee’s annual audited financial statements, report to shareholders or similar documents.

(10) “Money” means a medium of exchange that:

(a) The United States or a foreign government authorizes or adopts; or

(b) Represents value that substitutes for currency but that does not benefit from government regulation requiring acceptance of the medium of exchange as legal tender.

(11) “Money transmission” means selling or issuing payment instruments or engaging in the business of receiving money for transmission, or transmitting money within the United States or to locations abroad by any and all means, including but not limited to payment instrument, wire, facsimile or electronic transfer.

(12) “Nationwide Multistate Licensing System” means a system that the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, or assigns of the Conference of State Bank Supervisors or the American Association of Residential Mortgage Regulators, develop and maintain for participating state agencies to use in licensing and registering mortgage loan originators and other persons that provide nondepository financial services.

(13) Intentionally left blank —Ed.

(a) “Payment instrument” means any electronic or written check, draft, money order, traveler’s check or other electronic or written instrument or order for transmitting or paying money, sold or issued to one or more persons, whether or not the instrument is negotiable.

(b) “Payment instrument” does not include any credit card voucher, any letter of credit or any instrument that is redeemable by the issuer in goods or services.

(14) “Outstanding payment instrument” means any payment instrument that a licensee issued and sold in the United States, or that a licensee issued and an authorized delegate of the licensee sold in the United States, and that has been reported to the licensee as having been sold but that has not yet been paid by or for the licensee.

(15) “Permissible investments” means:

(a) Cash;

(b) Certificates of deposit or other debt obligations of a financial institution, either domestic or foreign;

(c) Bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as bankers’ acceptances, that are eligible for purchase by member banks of the Federal Reserve System;

(d) Any investment security bearing a rating of one of the three highest grades as defined by a nationally recognized organization that rates such securities;

(e) Investment securities that are obligations of the United States Government, or agencies or instrumentalities of the United States Government, or obligations that the United States guarantees fully as to principal and interest, or any obligations of any state, municipality or any political subdivision of a state or municipality;

(f) Shares in a money market mutual fund, interest-bearing bills, notes or bonds, debentures or stock traded on any national securities exchange or national market system, mutual funds primarily composed of such securities or a fund composed of one or more permissible investments as set forth herein;

(g) Any demand borrowing agreement or agreements made with a corporation or a subsidiary of a corporation the capital stock of which is listed on a national securities exchange;

(h) Receivables that are due to a licensee from the licensee’s authorized delegates under a contract described in ORS 717.270 (Conduct of money transmission business through authorized delegates) and that are not past due or doubtful of collection; or

(i) Any other investments or security device approved by the Director of the Department of Consumer and Business Services.

(16) “Person” means an individual, partnership, association, joint stock association, limited liability company, trust or corporation.

(17) “Remit” means either to pay funds directly to a licensee or representatives of a licensee authorized to receive the funds, or to deposit the funds in a bank, credit union or savings and loan association or other similar financial institution in an account that the licensee specifies.

(18) “Security device” means a surety bond, irrevocable letter of credit issued by an insured institution as defined in ORS 706.008 (Additional definitions for Bank Act) or other similar security acceptable to the Director of the Department of Consumer and Business Services. [1999 c.571 §2; 2001 c.104 §283; 2015 c.118 §6]

Source: Section 717.200 — Definitions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 711.445 — OR Code / Title 53 / Chapter 711 / Section 711.445
711.445 Notice of taking possession of institution
Status: in_force

(1) Upon taking possession of the property and business of an institution, the Director of the Department of Consumer and Business Services shall give written notice of the fact to all persons holding or in possession of any assets of the institution.

(2) A person knowing that the director has taken possession of an institution shall not have a lien or charge for any payment advanced or any clearance thereafter made, or liability thereafter incurred, against any of the assets of the institution. [Amended by 1973 c.797 §257]

Source: Section 711.445 — Notice of taking possession of institution; prohibition against liens subsequent to insolvency , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 716.556 — OR Code / Title 53 / Chapter 716 / Section 716.556
716.556 Investment in loans secured by pledged notes or bonds
Status: in_force

A savings bank may invest in loans secured by pledge of the notes or bonds specified in ORS 716.552 (Investments in notes or bonds secured by real estate mortgages or trust deeds) , if the notes or bonds pledged as collateral are at least 25 percent more than the loans which they secure. [1973 c.797 §371b]

Source: Section 716.556 — Investment in loans secured by pledged notes or bonds , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 715.090 — OR Code / Title 53 / Chapter 715 / Section 715.090
715.090 Authority of financial holding company or bank holding company to share information concerning customers with controlled company
Status: in_force

(1) A financial holding company or bank holding company may share financial and credit information concerning its customers with any company of which it directly or indirectly controls 50 percent or more of the voting shares. Any company so controlled by a financial holding company or bank holding company may share information concerning its customers with the financial holding company or bank holding company and with any other company so controlled by the same financial holding company or bank holding company. This section shall not be construed as otherwise permitting or limiting the sharing or disclosure of information.

(2) For purposes of this section, “customers” includes but is not limited to depositors, borrowers, credit card holders, lessees, purchasers under contracts and applicants for credit. [1985 c.357 §2; 2001 c.377 §36]

Source: Section 715.090 — Authority of financial holding company or bank holding company to share information concerning customers with controlled company , https://www.­oregonlegislature.­gov/bills_laws/ors/ors715.­html (accessed May 26, 2025).
ORS § 707.188 — OR Code / Title 53 / Chapter 707 / Section 707.188
707.188 Service of process on institution or Oregon stock savings bank
Status: in_force

(1) The registered agent appointed by an institution or Oregon stock savings bank shall be an agent of the institution or Oregon stock savings bank upon whom any process, notice or demand required or permitted by law to be served upon the institution or Oregon stock savings bank may be served.

(2) The Director of the Department of Consumer and Business Services shall be an agent of an institution or Oregon stock savings bank, including a dissolved institution or Oregon stock savings bank, upon whom any such process, notice or demand may be served whenever the institution or Oregon stock savings bank fails to appoint or maintain a registered agent in this state or whenever the institution’s or Oregon stock savings bank’s registered agent cannot with reasonable diligence be found at the registered office.

(3) Service shall be made on the director by:

(a) Serving the director or a clerk on duty at the office of the director a copy of the process, notice or demand, with any papers required by law to be delivered in connection with the service, and the required fee for each party being served or by mailing to the office of the director a copy of the process, notice or demand and the required fee for each party being served by certified or registered mail;

(b) Transmittal by the person instituting the proceedings of notice of the service on the director and a copy of the process, notice or demand and accompanying papers to the institution or Oregon stock savings bank being served by certified or registered mail:

(A) At the last registered office of the institution or Oregon stock savings bank as shown by the records of the director; and

(B) At such address the use of which the person initiating the proceedings knows or, on the basis of reasonable inquiry, has reason to believe is most likely to result in actual notice; and

(c) Filing with the appropriate court or other body, as part of the return of service, the return receipt of mailing and an affidavit of the person initiating the proceedings stating that this section has been complied with.

(4) The director shall keep a record of all processes, notices and demands served upon the director under this section.

(5) After completion of initial service upon the director, no additional documents need be served upon the director to maintain jurisdiction in the same proceeding or to give notice of any motion or provisional process.

(6) Nothing contained in this section shall limit or affect the right to serve any process, notice or demand required or permitted by law to be served upon an institution or Oregon stock savings bank in any other manner now or hereafter permitted by law, or enlarge the purposes for which service on the director is permitted where such purposes are limited by other provisions of law. [2005 c.192 §5]

Source: Section 707.188 — Service of process on institution or Oregon stock savings bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.295 — OR Code / Title 53 / Chapter 708a / Section 708a.295
708A.295 Limitations on amount of obligations to Oregon commercial bank
Status: in_force

Except as provided in ORS 708A.300 (Obligations secured by readily marketable collateral) to 708A.375 (Obligations of guarantors) , the loans and other obligations of a person to an Oregon commercial bank outstanding at any time shall not exceed 15 percent of the Oregon commercial bank’s capital. Any loan made or other obligation acquired in accordance with ORS 708A.300 (Obligations secured by readily marketable collateral) to 708A.375 (Obligations of guarantors) shall be in addition to and shall not be applied against the 15 percent limitation. Any loan made or obligation acquired that complies with ORS 708A.290 (“Capital” defined for ORS 708A.290 to 708A.375) to 708A.375 (Obligations of guarantors) when made or acquired shall not be considered out of compliance on account of a subsequent decline in the capital of the Oregon commercial bank. Obligations in the name of one person for the benefit of another person shall be considered obligations of both the named person and the benefited person. [1997 c.631 §144]

Source: Section 708A.295 — Limitations on amount of obligations to Oregon commercial bank; applicability , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 717.210 — OR Code / Title 53 / Chapter 717 / Section 717.210
717.210 Exemptions
Status: in_force

(1) ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) do not apply to:

(a) Any company that accepts deposits in this state and that is insured under the Federal Deposit Insurance Act, 12 U.S.C. 1811 et seq., as amended.

(b) Credit unions or trust companies.

(c) The United States Government or any department, agency or instrumentality thereof.

(d) The United States Postal Service.

(e) Any state or political subdivision of a state.

(f) The provision or electronic transfer of government benefits for any federal, state or county government or other agency as defined in the Federal Reserve Board Regulation E (12 C.F.R. part 205), by a contractor for and on behalf of the United States Government or any department, agency or instrumentality of the United States, or any state or any political subdivision of a state.

(g) The provision or handling of electronic or other transfer of escrowed moneys by an escrow agent licensed under ORS 696.511 (License requirement) to the extent that the escrow agent is:

(A) Closing an escrow, as defined in ORS 696.505 (Definitions for ORS 696.505 to 696.590) ;

(B) Engaging in activity related to a collection escrow, as defined in ORS 696.505 (Definitions for ORS 696.505 to 696.590) ; or

(C) Serving as a trustee of a trust deed in accordance with ORS 86.713 (Qualifications of trustee) .

(h) Authorized delegates of a licensee, acting within the scope of authority conferred by a written contract as described in ORS 717.270 (Conduct of money transmission business through authorized delegates) .

(i) Any bank holding company as defined in the federal Bank Holding Company Act of 1956, 12 U.S.C. 1841 et seq., as amended, or any financial holding company as defined in ORS 706.008 (Additional definitions for Bank Act) .

(j) Any savings and loan holding company as defined in 12 U.S.C. 1467a (a)(1)(D), as amended.

(2) The Director of the Department of Consumer and Business Services by rule or order may modify or waive the application of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) to any person or group of persons if the director determines that adequate regulation of the person or group of persons is provided by law or by another agency of this state.

(3) The director by rule or order may temporarily suspend the application of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) to any person or group of persons while the director considers whether an exemption should be granted and during the pendency of any rulemaking proceeding proposing to create an exemption. [1999 c.571 §4; 2001 c.377 §50; 2013 c.444 §3]

Source: Section 717.210 — Exemptions; waiver; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 707.400 — OR Code / Title 53 / Chapter 707 / Section 707.400
707.400 Suspension of payment of dividends
Status: in_force

The Director of the Department of Consumer and Business Services may require any institution or Oregon stock savings bank to suspend the payment of any dividends if the director determines that the payment of dividends would result in the remaining stockholders’ equity of the institution or Oregon stock savings bank being inadequate for the safe and sound operation of the institution or Oregon stock savings bank. [Amended by 1963 c.580 §82; 1973 c.797 §80; 1997 c.631 §75]

Source: Section 707.400 — Suspension of payment of dividends , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.840 — OR Code / Title 53 / Chapter 716 / Section 716.840
716.840 Liability of directors voting improper dividend
Status: in_force

If any dividend is declared and credited in excess of profits earned together with surplus and undivided profits since the last declaration of dividends and appearing to the credit of the Oregon nonstock bank, after making the deduction for expenses and the guaranty fund as provided in ORS 716.780 (Crediting portion of net earnings to guaranty fund) and 716.830 (Payment of dividends) , the directors voting for the dividend shall be jointly and severally liable to the Oregon nonstock bank for the amount of the excess so declared and credited. [Amended by 1973 c.797 §391; 1975 c.544 §49a; 1997 c.631 §357]

Source: Section 716.840 — Liability of directors voting improper dividend , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 709.200 — OR Code / Title 53 / Chapter 709 / Section 709.200
709.200 Acquisition or investment of trust property in own name or name of nominee
Status: in_force

(1) In the acquisition or investment of trust property, a trust company may take in its own name, or in the name of its nominee, any assets in which it may be authorized to invest or hold trust property.

(2) Upon the satisfaction, conveyance or investment of trust property, whether the trust property is held in the name of the trust company, individually, or in its name as trustee or in a specified fiduciary capacity or otherwise, the instrument of satisfaction or transfer may be executed by the trust company in its own name. [Amended by 1973 c.797 §198; 1997 c.631 §215]

Source: Section 709.200 — Acquisition or investment of trust property in own name or name of nominee , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 716.900 — OR Code / Title 53 / Chapter 716 / Section 716.900
716.900 Voluntary dissolution of Oregon nonstock banks
Status: in_force

(1) Subject to the written approval of the Director of the Department of Consumer and Business Services and if necessary or expedient, the board of directors of an Oregon nonstock bank may adopt, by resolution passed by the affirmative vote of two-thirds of the directors, at a meeting called for that purpose, a plan to close the business, liquidate the assets, pay money due first to depositors, including those depositors whose deposits are uninsured, second to holders of consumer repurchase agreements, third to holders of capital notes, and then to other creditors, distribute the remaining assets, if any, as provided by this chapter and the plan of liquidation and surrender the corporate charter. The plan shall provide that any assets remaining after payment of depositors, holders of consumer repurchase agreements, capital noteholders and other creditors, and payment of the costs of liquidation and dissolution, shall be distributed to the time depositors and to other persons entitled thereto according to their several interests as determined by this chapter and the plan of liquidation. Each depositor shall receive a share of the remaining assets based on an apportionment as provided by the plan of dissolution approved by the director.

(2) Before approving the plan for closing the Oregon nonstock bank under subsection (1) of this section, the director may make a special examination of the condition and affairs of the Oregon nonstock bank. [Amended by 1973 c.797 §394; 1979 c.88 §30; 1983 c.37 §30; 1997 c.631 §360]

Source: Section 716.900 — Voluntary dissolution of Oregon nonstock banks; priority of payment , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 711.550 — OR Code / Title 53 / Chapter 711 / Section 711.550
711.550 Objection to rejection of claims
Status: in_force

(1) If the Director of the Department of Consumer and Business Services rejects any claim in whole or in part, written notice of the rejection shall be given to the claimant, either in person or by mail. If notice by mail is given, it is sufficient that the notice be sent to the address indicated by the claimant on the proof of claim filed with the director. If no address is given, then it is sufficient if the notice is mailed to the last address of the claimant as shown by the books and records of the closed institution. If notice of rejection is given by mail, the notice is considered to have been given by the director on the day when the notice of rejection is properly addressed and deposited in the mail, postage prepaid. Proof of giving of notice of rejection by the director shall be made by affidavit, and the affidavit shall be prima facie evidence of the giving of notice. The affidavit shall be filed in the office of the director.

(2) Within 30 days after the giving of the notice of rejection, the claimant may appeal the rejection by serving the director with notice of appeal and by filing the notice with the clerk of the supervising court with proof of service of the notice upon the director and a copy, certified as correct by the director, of the rejected claim and the indorsement made thereon by the director. [Amended by 1973 c.797 §276; 2007 c.71 §230]

Source: Section 711.550 — Objection to rejection of claims , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.600 — OR Code / Title 53 / Chapter 711 / Section 711.600
711.600 Liquidation expenses
Status: in_force

The expenses incurred by the Director of the Department of Consumer and Business Services in the liquidation of an institution include the expenses of all employees of the Department of Consumer and Business Services employed in the liquidation, reasonable attorney fees for counsel employed by the director in the course of the liquidation, and stationery, rent, postage, telephone, telegraph and other office and traveling expense. The compensation of the employees and the expense of supervision and liquidation shall be fixed by the director, subject to the approval of the supervising court. The supervising court shall not increase the compensation or expenses over the amount fixed by the director. [Amended by 1973 c.797 §290; 1985 c.762 §44]

Source: Section 711.600 — Liquidation expenses , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 706.544 — OR Code / Title 53 / Chapter 706 / Section 706.544
706.544 Costs for special examination or other actions taken
Status: in_force

A banking institution or a non-Oregon institution shall pay to the Director of the Department of Consumer and Business Services the actual costs of the Department of Consumer and Business Services, as determined by the director, for conducting any special examination or taking any action under ORS 706.600 (Authority to protect creditors and depositors of banking institution or non-Oregon institution) . [1973 c.797 §25a; 1977 c.135 §10; 1985 c.762 §30a; 1985 c.786 §11; 1997 c.631 §6]

Source: Section 706.544 — Costs for special examination or other actions taken , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 711.185 — OR Code / Title 53 / Chapter 711 / Section 711.185
711.185 Stockholder withdrawal of demand for payment for shares made under ORS 711.180
Status: in_force

(1) A dissenting stockholder making a demand under ORS 711.180 (Rights of stockholder dissenting to merger, share exchange, transfer of assets or liabilities or conversion) may withdraw the demand if:

(a) The Oregon stock bank, Oregon trust company or its successor consents to the withdrawal; or

(b) The dissenting stockholder pays the stockholder’s pro rata share of the appraisal costs and the Oregon stock bank’s or Oregon trust company’s reasonable costs and expenses, including attorney fees and costs.

(2) When a dissenting stockholder withdraws the demand under subsection (1) of this section, the stockholder’s status as a stockholder shall be restored, without prejudice to any corporate proceedings taking place in the interim. [1997 c.631 §281; 2005 c.134 §11]

Source: Section 711.185 — Stockholder withdrawal of demand for payment for shares made under ORS 711.180 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.355 — OR Code / Title 53 / Chapter 708a / Section 708a.355
708A.355 Insured and guaranteed obligations
Status: in_force

In addition to obligations permitted under ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) , an Oregon commercial bank may make loans to and acquire other obligations of a person without regard to amount to the extent the obligations are insured, guaranteed or covered by commitments or agreements to take over or purchase made by a private mortgage insurance company, the State of Oregon, any Federal Reserve Bank, the United States or any department, bureau, board, commission or agency of the United States, including any corporation wholly owned, directly or indirectly, by the United States. [1997 c.631 §156]

Source: Section 708A.355 — Insured and guaranteed obligations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.758 — OR Code / Title 53 / Chapter 707 / Section 707.758
707.758 Indemnification of officers, employees and agents
Status: in_force

Unless a banking institution’s articles of incorporation provide otherwise:

(1) An officer of the banking institution is entitled to mandatory indemnification under ORS 707.748 (Mandatory indemnification) and is entitled to apply for court-ordered indemnification under ORS 707.754 (Court-ordered indemnification) , in each case to the same extent as a director under ORS 707.748 (Mandatory indemnification) and 707.754 (Court-ordered indemnification) .

(2) The banking institution may indemnify and advance expenses under ORS 707.744 (Definitions for ORS 707.744 to 707.764) to 707.762 (Insurance) to an officer, employee or agent of the banking institution to the same extent as to a director. [1989 c.324 §23; 1997 c.631 §112]

Source: Section 707.758 — Indemnification of officers, employees and agents , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 707.670 — OR Code / Title 53 / Chapter 707 / Section 707.670
707.670 Regular meetings of directors
Status: in_force

(1) The board of directors of a banking institution shall hold regular meetings. The Director of the Department of Consumer and Business Services may specify by rule, in accordance with ORS 183.315 (Application of provisions of chapter to certain agencies) , 183.330 (Description of organization) , 183.335 (Notice) and 183.341 (Model rules of procedure) to 183.410 (Agency determination of applicability of rule or statute to petitioner) , the minimum frequency with which a board of directors of a banking institution must meet.

(2) A quorum at any meeting of the board of directors consists of:

(a) If the banking institution has a fixed board size, a majority of the members of the whole board.

(b) If the banking institution has a variable-range board size, a majority of the number of directors prescribed or, if no number is prescribed, a majority of the number in office immediately before the meeting begins.

(3) If less than a quorum of directors is present at a meeting, the directors may adjourn until the next meeting.

(4) If a quorum is present when a vote is taken, the affirmative vote of a majority of directors present is the act of the board of directors unless the articles of incorporation or bylaws require the vote of a greater number of directors.

(5) Meetings of the board of directors, regular or special, may be held either within or outside this state.

(6) Meetings of the board of directors must be held upon such notice as is prescribed in the bylaws. A director’s attendance at a meeting constitutes a waiver of notice of the meeting, except where a director attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened. The notice or waiver of notice of a meeting of the board of directors does not need to specify either the business to be transacted at or the purpose of the meeting unless required by the bylaws or by law.

(7) Unless the articles of incorporation or bylaws provide otherwise, members of the board of directors of a banking institution or any committee designated by the board may hold a meeting of the board or committee by means of conference telephone or similar communications equipment that allows all persons participating in the meeting to hear each other. Participation in a meeting under this subsection constitutes presence in person at the meeting. [Amended by 1963 c.166 §1; 1973 c.797 §89; 1983 c.296 §4; 1989 c.324 §40; 1993 c.255 §1; 1997 c.631 §95; 2013 c.104 §1]

Source: Section 707.670 — Regular meetings of directors; rules; quorum; notice; meetings using communications equipment , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 717.310 — OR Code / Title 53 / Chapter 717 / Section 717.310
717.310 Rules
Status: in_force

(1) The Director of the Department of Consumer and Business Services may adopt rules for the purpose of carrying out the provisions of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) .

(2) In addition to the notice requirements of ORS chapter 183, before the director adopts a permanent rule, the director shall submit a copy of the proposed rule to each licensee. [1999 c.571 §25]

Source: Section 717.310 — Rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 711.525 — OR Code / Title 53 / Chapter 711 / Section 711.525
711.525 Interest on deposits after Oregon stock bank closes
Status: in_force

Interest on unsecured interest-bearing deposits and on secured interest-bearing deposits other than public funds shall stop on the date any Oregon stock bank is placed in the hands of the Director of the Department of Consumer and Business Services for liquidation. Interest on public funds that are secured as provided in ORS chapter 295, shall continue at the rate being paid by the Oregon stock bank prior to the time it closed. [Amended by 1973 c.797 §271; 1997 c.631 §251]

Source: Section 711.525 — Interest on deposits after Oregon stock bank closes , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 707.180 — OR Code / Title 53 / Chapter 707 / Section 707.180
707.180 Location of principal place of business
Status: in_force

The initial principal place of business of a banking institution shall be specified in its articles of incorporation. The principal place of business may be changed upon application of the banking institution to the Director of the Department of Consumer and Business Services. The director shall determine whether the change in location is advisable or justified and whether the public convenience and advantage will be promoted and shall approve or disapprove the change of location. An appeal from the decision of the director may be taken to any court of appropriate jurisdiction. [Amended by 1973 c.797 §65; 1975 c.544 §8c; 1997 c.631 §53]

Source: Section 707.180 — Location of principal place of business; change upon approval , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.675 — OR Code / Title 53 / Chapter 708a / Section 708a.675
708A.675 Authority of financial institutions in cases of suspected financial exploitation
Status: in_force

(1) When a financial institution reasonably believes, or has received information from the Department of Human Services, a law enforcement agency, or a district attorney’s office demonstrating that it is reasonable to believe, that financial exploitation of a vulnerable person may have occurred, may have been attempted or is being attempted, and pending an investigation by the financial institution, the department, the law enforcement agency or the district attorney’s office, the financial institution may but is not required to:

(a) Refuse a transaction with or involving the vulnerable person;

(b) Refuse to permit the withdrawal or disbursement of funds contained in a vulnerable person’s account;

(c) Prevent a change in ownership of a vulnerable person’s account;

(d) Prevent a transfer of funds from a vulnerable person’s account to an account owned wholly or partially by another person; or

(e) Refuse to comply with instructions given to the financial institution by an agent or attorney-in-fact under a power of attorney signed or purported to have been signed by the vulnerable person.

(2) A financial institution is not required to act under subsection (1) of this section when provided with information alleging that financial exploitation may have occurred, may have been attempted or is being attempted, but may use the financial institution’s discretion to determine whether or not to act under subsection (1) of this section based on the information available to the financial institution at the time.

(3) Intentionally left blank —Ed.

(a) Except as provided in paragraph (b) of this subsection, a financial institution that acts under subsection (1) of this section shall make a reasonable effort to notify, orally or in writing, all parties currently authorized to transact business on the account concerning the financial institution’s action.

(b) A financial institution is not required to provide the notice described in paragraph (a) of this subsection when the financial institution, in the financial institution’s discretion, determines that providing notice could compromise an investigation of or response to the suspected financial exploitation.

(4) The authority granted to a financial institution under subsection (1) of this section will expire upon the sooner of:

(a) Fifteen business days after the date on which the financial institution first acted under subsection (1) of this section;

(b) When the financial institution is satisfied that the transaction or act will not result in financial exploitation of a vulnerable person; or

(c) Upon termination by an order of a court of competent jurisdiction.

(5) Unless otherwise directed by order of a court of competent jurisdiction, a financial institution may extend the duration under subsection (4) of this section based on a reasonable belief that the financial exploitation of a vulnerable person may have occurred, may have been attempted, or may continue to occur or be attempted.

(6) A financial institution and all employees of a financial institution are immune from criminal, civil and administrative liability for actions taken under subsections (1) and (5) of this section if the actions were taken in good faith. [2017 c.290 §2]

Note: See note under 708A.670 (Definitions for ORS 708A.670 and 708A.675) .

Source: Section 708A.675 — Authority of financial institutions in cases of suspected financial exploitation; notifications; limitation on liability , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 714.015 — OR Code / Title 53 / Chapter 714 / Section 714.015
714.015 Branches not in compliance with ORS 714.025 to 714.079 prohibited
Status: in_force

Banking institutions shall not establish or maintain branches except as expressly authorized in ORS 714.025 (Notice required to establish branches in Oregon or outside of Oregon) to 714.079 (Closure and relocation of branches) and 714.995 (Civil penalty) . [1997 c.631 §312]

Source: Section 714.015 — Branches not in compliance with ORS 714.025 to 714.079 prohibited , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 711.190 — OR Code / Title 53 / Chapter 711 / Section 711.190
711.190 Effect of merger or conversion of Oregon bank
Status: in_force

(1) When a merger or conversion of an Oregon bank becomes effective:

(a) The separate existence of each Oregon bank participating in the plan of merger or conversion, except the existence of the resulting financial institution, ends; and

(b) The resulting financial institution is an entity with all the property, rights, powers and duties of all parties to the merger or the converting financial institution, except as affected by the laws applicable to the resulting financial institution and by the charter, articles of incorporation and bylaws of the resulting financial institution.

(2) All property, debts, choses in action and every other interest of each merging or converting financial institution are transferred to and vested in the resulting financial institution without any further act or deed of any party to the merger or conversion. The title to or any interest in any real estate vested in any merging or converting financial institution may not revert or be impaired because of the merger or conversion.

(3) When a merger or conversion becomes effective, the resulting financial institution shall be liable for all liabilities and obligations of each of the merging or converting financial institutions. Any existing or pending claim, action or proceeding by or against any merging or converting financial institution may be prosecuted as if the merger or conversion had not taken place, or the resulting financial institution may be substituted in its place. A merger or conversion may not impair the rights of creditors or depositors of a merging or converting financial institution or any liens upon the property of a merging or converting financial institution.

(4) Unless prohibited under applicable law, a resulting financial institution may use the name of the merging financial institution or the converting financial institution whenever it can do any act under the name more conveniently.

(5) Any reference to a merging or converting financial institution in any writing, whether executed or taking effect before or after the merger or conversion, is a reference to the resulting financial institution if consistent with the other provisions of the writing, and if the resulting financial institution is authorized to exercise the powers conferred or required by the writing. [Formerly 711.040]

Source: Section 711.190 — Effect of merger or conversion of Oregon bank; rights, powers, duties and liabilities of resulting financial institution , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.150 — OR Code / Title 53 / Chapter 708a / Section 708a.150
708A.150 Community development corporations
Status: in_force

(1) As provided in this section:

(a) A banking institution may invest its capital in a community development corporation.

(b) A banking institution may organize a community development corporation as a wholly owned subsidiary of the banking institution and invest its capital in the corporation.

(2) A banking institution may invest in or organize and invest in a community development corporation under subsection (1) of this section, if the following conditions are satisfied:

(a) The projects undertaken by the community development corporation must be predominantly of a civic, community or public nature, and not merely of a private or entrepreneurial nature.

(b) The banking institution’s aggregate investment in community development corporations and their projects must not exceed two percent of its capital for any project and five percent of its capital for all projects, or 10 percent of its capital for all projects with the approval of the Director of the Department of Consumer and Business Services.

(c) The banking institution must submit to the director its proposal for investing in or organizing and investing in a community development corporation and the proposal must receive the director’s approval.

(d) The membership of the board of directors of the community development corporation must be representative of the community in which the corporation is to operate.

(3) A community development corporation may be organized as a for-profit corporation under ORS chapter 60 or as a nonprofit corporation under the Oregon Nonprofit Corporation Law. A community development corporation must be authorized under its articles of incorporation or applicable law to:

(a) Acquire real estate. This paragraph does not authorize real estate investment that is primarily speculative in nature.

(b) Make equity investments in small businesses and in development projects that primarily benefit small businesses.

(c) Participate in joint ventures with outside partners.

(4) A banking institution wishing to invest in or organize and invest in a community development corporation shall submit to the director, on an application form designed by the director, a proposal that describes in detail the nature and scope of development activities the community development corporation intends to undertake.

(5) The director may submit an application to any appropriate state agency or city, county or other local government for its advice and assistance on determining the need and practicability of the projects proposed in the application. [1997 c.631 §125]

Source: Section 708A.150 — Community development corporations; authority to invest or organize; conditions; corporate form; functions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.410 — OR Code / Title 53 / Chapter 711 / Section 711.410
711.410 Transfer of assets after commission of act of insolvency or in contemplation of insolvency
Status: in_force

Except for transfers of public funds or collateral that a qualified depository, as defined in ORS 295.001 (Definitions for ORS 295.001 to 295.108) , or the State Treasurer must make under ORS 295.001 (Definitions for ORS 295.001 to 295.108) to 295.108 (State Treasurer rules) , transfers of assets made after the commission of an act of insolvency or in contemplation of insolvency to prevent the application of the assets in the manner prescribed by the Bank Act or to the preference of one creditor to another are void. [Amended by 1973 c.797 §252; 2007 c.871 §32; 2010 c.101 §28; 2019 c.587 §49]

Source: Section 711.410 — Transfer of assets after commission of act of insolvency or in contemplation of insolvency; exceptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 709.520 — OR Code / Title 53 / Chapter 709 / Section 709.520
709.520 Conversion to out-of-state trust company
Status: in_force

(1) An Oregon trust company may convert into an out-of-state trust company subject to the prior approval of the supervisory authority having jurisdiction over the proposed resulting trust company. Upon completion of such a conversion, the Oregon charter shall terminate, except for the purposes specified in ORS 711.190 (Effect of merger or conversion of Oregon bank) .

(2) An out-of-state trust company that follows the procedures prescribed by the supervisory authority having jurisdiction over the converting out-of-state trust company shall be granted a charter as an Oregon trust company by the Director of the Department of Consumer and Business Services if the director finds that the converting trust company meets the standards of the Bank Act for organization as an Oregon trust company. An out-of-state trust company may apply to convert to an Oregon trust company and obtain a charter as an Oregon trust company by filing with the director:

(a) A certificate signed by the chief executive officer of the converting out-of-state trust company certifying that the board of directors has taken all necessary corporate action in compliance with the provisions of the laws of the supervisory authority having jurisdiction over the converting out-of-state trust company.

(b) The articles of incorporation, approved by a majority of the stockholders of the converting out-of-state trust company, for the operation of the out-of-state trust company as an Oregon trust company. [1997 c.631 §230]

Source: Section 709.520 — Conversion to out-of-state trust company; conversion to Oregon trust company; procedures , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 711.160 — OR Code / Title 53 / Chapter 711 / Section 711.160
711.160 Action by director on plan of merger involving Oregon nonstock bank
Status: in_force

(1) Within 90 days after receiving the materials and fee specified in ORS 711.155 (Approval of merger involving Oregon nonstock bank) , unless the time is extended by the Director of the Department of Consumer and Business Services in concurrence with the applicants, the director shall approve or disapprove the plan of merger. The director shall approve the plan of merger if the director finds that:

(a) The resulting insured nonstock institution meets the requirements of the Bank Act;

(b) The merger will not be detrimental to the safety and soundness of the resulting insured nonstock institution;

(c) The merger is not contrary to the public interest; and

(d) The director is satisfied that the merger is permitted by the state or federal supervisory authority having jurisdiction over the resulting insured nonstock institution.

(2) If the director disapproves a plan of merger, the director shall state any objections in writing and give the boards of the parties to the merger an opportunity to amend the plan of merger to obviate the objections. The amended plan of merger shall be submitted to the director for approval as if it were the original plan of merger.

(3) Any of the parties to the merger may appeal the decision of the director as provided in ORS 183.415 (Notice of right to hearing) to 183.500 (Appeals) . [1997 c.631 §277]

Source: Section 711.160 — Action by director on plan of merger involving Oregon nonstock bank; appeal , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.350 — OR Code / Title 53 / Chapter 708a / Section 708a.350
708A.350 Obligations secured by government bonds
Status: in_force

In addition to obligations permitted under ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) , an Oregon commercial bank may make loans to and accept other obligations of a person, not to exceed 20 percent of the Oregon commercial bank’s capital, if:

(1) The obligation is secured by bonds of any state of the United States or bonds of any county, city, school district, port district or other public body in the United States;

(2) The principal amount of the obligation is not more than 90 percent of the market value of the bonds that secure the obligation;

(3) The bonds are payable from ad valorem taxes; and

(4) The bonds are rated in one of the four highest grades by a recognized investment service organization that has been engaged regularly and continuously for a period of not less than 10 years in rating state and municipal bonds. [1997 c.631 §155]

Source: Section 708A.350 — Obligations secured by government bonds , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.450 — OR Code / Title 53 / Chapter 711 / Section 711.450
711.450 Prohibition against applying to enjoin director from continuing possession
Status: in_force

An institution may not apply to the supervising court for an order requiring the Director of the Department of Consumer and Business Services to show cause why the director should not be enjoined from continuing possession pursuant to ORS 711.419 (Taking possession of Oregon stock bank by director) . [Amended by 1973 c.797 §258; 1975 c.544 §37; 1985 c.786 §43]

Source: Section 711.450 — Prohibition against applying to enjoin director from continuing possession , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 706.500 — OR Code / Title 53 / Chapter 706 / Section 706.500
706.500 Examination of banking institutions and non-Oregon institutions
Status: in_force

(1) Each banking institution is subject to the inspection of the Director of the Department of Consumer and Business Services. The director shall conduct an examination of the condition and resources of each banking institution and determine whether the banking institution is complying with the laws of this state and such other matters as the director may prescribe. Except as provided in subsections (3) and (5) of this section, the director shall conduct examinations not more than 24 months apart.

(2) Subject to ORS 706.515 (Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network) , the director may at any time examine any branch of a non-Oregon institution located in this state, for the same purposes and to the same extent as provided in the case of banking institutions.

(3) The director may participate in any program that the Federal Deposit Insurance Corporation or the Federal Reserve Board provides for joint or alternate examinations of banking institutions and non-Oregon institutions.

(4) In addition to an examination under subsection (1), (2) or (3) of this section, the director may conduct an examination of a banking institution at any other time.

(5) Instead of conducting an examination of a banking institution or non-Oregon institution under subsection (1), (2) or (3) of this section, the director may accept an examination or report made under the Federal Reserve Act or under other statutes of the United States. [Amended by 1973 c.797 §22; 1981 c.192 §4; 1985 c.786 §7; 1997 c.631 §3a; 2015 c.244 §8]

Source: Section 706.500 — Examination of banking institutions and non-Oregon institutions; examination program with federal regulators , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 711.670 — OR Code / Title 53 / Chapter 711 / Section 711.670
711.670 Compliance with ORS 711.620 to 711.670 as defense to depositor’s action
Status: in_force

Compliance with the terms and conditions of ORS 711.620 (Suspending or restricting payment of liabilities) to 711.670 (Compliance with ORS 711.620 to 711.670 as defense to depositor’s action) and orders and rules promulgated as a result of ORS 711.620 (Suspending or restricting payment of liabilities) to 711.670 (Compliance with ORS 711.620 to 711.670 as defense to depositor’s action) is a complete defense to any suit or action brought by any depositor or creditor against an Oregon stock bank with respect to any deposit or contract liability. [1973 c.797 §303; 1997 c.631 §263]

Source: Section 711.670 — Compliance with ORS 711.620 to 711.670 as defense to depositor’s action , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.660 — OR Code / Title 53 / Chapter 711 / Section 711.660
711.660 Assignment or transfer of capital stock while payment of liabilities suspended or restricted
Status: in_force

While the payment of the liabilities of any Oregon stock bank is suspended or restricted under ORS 711.620 (Suspending or restricting payment of liabilities) , an assignment or transfer of the capital stock of the Oregon stock bank is invalid. [1973 c.797 §301; 1997 c.631 §261]

Source: Section 711.660 — Assignment or transfer of capital stock while payment of liabilities suspended or restricted , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 706.575 — OR Code / Title 53 / Chapter 706 / Section 706.575
706.575 Certificate as evidence that document is filed with director
Status: in_force

(1) A certificate attached to a copy of a document filed by the Director of the Department of Consumer and Business Services, bearing the director’s signature, which may be in facsimile, is conclusive evidence that the original document or a facsimile thereof is on file with the office.

(2) All certificates issued by the director in accordance with the provisions of this chapter and all copies of documents filed in the office of the director in accordance with the provisions of this chapter, when certified by the director, shall be taken and received in all courts, public offices and official bodies as prima facie evidence of the facts stated in the certificates or documents. A certificate by the director, as to the existence or nonexistence of the facts relating to financial institutions that would appear from the presence or absence of documents filed in the office of the director or the compliance or noncompliance with provisions of this chapter, shall be taken and received in all courts, public offices and official bodies as prima facie evidence of the existence or nonexistence of the facts stated in the certificates or documents. [1989 c.324 §2; 1997 c.631 §9]

Source: Section 706.575 — Certificate as evidence that document is filed with director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 716.566 — OR Code / Title 53 / Chapter 716 / Section 716.566
716.566 Documents to be furnished by borrower in real estate loans
Status: in_force

In loans upon real property, the borrower shall furnish the savings bank with:

(1) A note or bond secured by a mortgage or deed of trust on the real estate upon which the loan is made; and

(2) A policy of title insurance issued by a reliable title insurance company authorized to insure titles within the state in which the property is situated. [1973 c.797 §371f; 1985 c.554 §10]

Source: Section 716.566 — Documents to be furnished by borrower in real estate loans , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.135 — OR Code / Title 53 / Chapter 708a / Section 708a.135
708A.135 Investment in bank service corporation
Status: in_force

An Oregon commercial bank may invest not more than 10 percent of its capital in a bank service corporation. An Oregon commercial bank shall not invest more than five percent of its total assets in a bank service corporation. [1997 c.631 §122]

Source: Section 708A.135 — Investment in bank service corporation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.430 — OR Code / Title 53 / Chapter 711 / Section 711.430
711.430 Placing business in control of director
Status: in_force

(1) An institution may place its property and affairs under the control of the Director of the Department of Consumer and Business Services to be liquidated by notifying the director of its proposed action and by posting a notice on its doors as follows: “This Bank (or Trust Company) Is Under the Control of the Department of Consumer and Business Services.”

(2) The posting of the notice or the taking possession of an institution by the director is sufficient to place all its property and affairs of whatever nature in the possession of the director and operates as a bar and dissolution to any attachment proceedings. [Amended by 1973 c.797 §254; 1975 c.544 §36; 1987 c.373 §54]

Source: Section 711.430 — Placing business in control of director; notice , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.572 — OR Code / Title 53 / Chapter 711 / Section 711.572
711.572 Liability of directors for distributing assets without payment of known debts
Status: in_force

The directors of an institution who vote for or assent to any distribution of assets of the institution to its stockholders during the liquidation of the institution without the payment and discharge of, or making adequate provision for, all known liabilities of the institution shall be jointly and severally liable to the institution for the value of the assets which are distributed, to the extent that the liabilities of the institution are not thereafter paid and discharged. [1973 c.797 §282]

Source: Section 711.572 — Liability of directors for distributing assets without payment of known debts , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.582 — OR Code / Title 53 / Chapter 711 / Section 711.582
711.582 Disposition of contents of safety deposit boxes
Status: in_force

(1) If property is not removed within six months after the time fixed by the notice of the Director of the Department of Consumer and Business Services under ORS 711.580 (Safety deposit boxes) , the director may sell the property under the direction of the supervising court. The proceeds of the sale shall be held for the benefit of the person entitled to the property. Any funds which have not been claimed within two years after the final order closing the liquidation of the institution may be disposed of in the manner prescribed in ORS 711.590 (Disposition of unclaimed deposits) for unclaimed dividends and deposits.

(2) If papers or other articles which have no value and cannot be sold are not removed within six months after the time fixed in the notice of the director, the director shall store the papers and articles with the records of the insolvent institution. One year after the final order closing the liquidation of the institution the papers and articles may be destroyed in the manner prescribed in ORS 711.595 (Destruction of liquidation records in possession of director) for the records of an insolvent institution. [1973 c.797 §286]

Source: Section 711.582 — Disposition of contents of safety deposit boxes , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.275 — OR Code / Title 53 / Chapter 708a / Section 708a.275
708A.275 Establishment of loan production office
Status: in_force

(1) An Oregon bank shall file a notice with the Director of the Department of Consumer and Business Services within 30 days after establishing a loan production office in this state or in another state. The notice must include:

(a) The name of the Oregon bank and the address of the main office;

(b) The name and address of the loan production office; and

(c) The name and address of the officer of the Oregon bank who is responsible for loan production office activities.

(2) An Oregon bank shall file a notice under subsection (1) of this section for each loan production office.

(3) Each notice that an Oregon bank files under subsection (1) of this section must be:

(a) Accompanied by a nonrefundable fee of $100.

(b) Amended if a material change occurs in the information the Oregon bank provided under subsection (1) of this section. A fee is not required for amendments.

(4) An Oregon bank shall notify the director of the closure of a loan production office, the date of closure and the disposition of any records previously maintained at the loan production office. A fee is not required for a notice of closure. [1999 c.107 §5; 2015 c.244 §45a]

Source: Section 708A.275 — Establishment of loan production office; notice; fee , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 708a.445 — OR Code / Title 53 / Chapter 708a / Section 708a.445
708A.445 Checks of intoxicated, drugged or financially exploited persons
Status: in_force

An insured institution may refuse to pay any check, draft or order drawn upon the insured institution if the officers or employees of the insured institution have reason to believe that the person signing or indorsing the instrument was the victim of financial exploitation, as defined in ORS 124.050 (Definitions for ORS 124.050 to 124.095) , or was so under the influence of liquor, drugs or controlled substances or otherwise so incapacitated as to make it reasonably doubtful whether the person was capable of transacting business at the time of signing or indorsing the check, draft or order. [1997 c.631 §170; 2015 c.244 §52]

Source: Section 708A.445 — Checks of intoxicated, drugged or financially exploited persons , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.630 — OR Code / Title 53 / Chapter 711 / Section 711.630
711.630 Pro rata withdrawals by depositors
Status: in_force

While the Oregon stock bank is in the possession of the Director of the Department of Consumer and Business Services under ORS 711.625 (Taking possession of Oregon stock bank by director) , the director may set aside and make available for withdrawal by depositors on a ratable basis such amounts as in the opinion of the director may safely be used for the purpose. [1973 c.797 §295; 1997 c.631 §255]

Source: Section 711.630 — Pro rata withdrawals by depositors , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.405 — OR Code / Title 53 / Chapter 711 / Section 711.405
711.405 When institution deemed insolvent
Status: in_force

An institution is insolvent if any of the following occurs:

(1) The fair market value of the institution’s assets is insufficient to pay the institution’s liabilities, excluding any liability on account of capital debentures.

(2) An Oregon stock bank fails to make good the Oregon stock bank’s reserve requirements under applicable law for a period of 30 days.

(3) The institution cannot meet the institution’s obligations or demands upon the institution as the obligations or demands become due. [Amended by 1973 c.797 §251; 1975 c.544 §35; 1997 c.631 §242; 2015 c.244 §83]

Source: Section 711.405 — When institution deemed insolvent , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 716.790 — OR Code / Title 53 / Chapter 716 / Section 716.790
716.790 Computation of guaranty fund
Status: in_force

(1) To determine the amount of a guaranty fund of an Oregon nonstock bank, the total liabilities due and accrued, undivided profits and net earnings since the last declaration of dividends shall be subtracted from the total assets. In determining the value of the assets:

(a) Securities, other evidences of indebtedness and other interest-bearing obligations shall be carried at a sum, not to exceed their cost to the Oregon nonstock bank, calculated according to accepted principles of accounting.

(b) Real estate shall not be estimated above cost unless its fair market value has been determined by written appraisal made by a certified appraiser and approved by the board of the Oregon nonstock bank, in which case the real estate may be carried at the fair market value determined by the appraisal. If the real estate has been acquired by foreclosure or judgment at more than its actual fair market value, the value of the real estate shall be determined by written appraisal made by a certified appraiser and approved by the board of the Oregon nonstock bank and filed with the Oregon nonstock bank.

(c) Except as provided in subsection (2) of this section, the following shall be excluded:

(A) Assets that have been disallowed by the Director of the Department of Consumer and Business Services or the directors of the Oregon nonstock bank;

(B) Debts owed to an Oregon nonstock bank that have remained due and upon which no interest has been paid for more than one year; and

(C) Debts on which a judgment has been recovered which has remained unsatisfied for more than two years.

(2) A debt mentioned in subsection (1)(c) of this section may be carried as an asset and will not be excluded in determining the value of the assets if:

(a) The director, upon application by the Oregon nonstock bank, fixes a valuation at which the debt may be carried as an asset; or

(b) The debt is secured by a first mortgage upon real estate and is carried as an asset at the amount of the debt secured by the mortgage or at the actual fair market value of the real estate as determined by written appraisal made by a certified appraiser and approved by the board of the Oregon nonstock bank and filed with the Oregon nonstock bank, whichever is smaller. [Amended by 1973 c.797 §387; 1997 c.631 §354; 2003 c.576 §551]

Source: Section 716.790 — Computation of guaranty fund , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.035 — OR Code / Title 53 / Chapter 707 / Section 707.035
707.035 Conversion of trust company to Oregon bank
Status: in_force

A trust company that desires to also conduct a banking business may convert to an Oregon bank in accordance with the provisions of ORS 711.070 (Conversion of financial institution into Oregon stock bank) and 711.080 (Conversion of financial institution into Oregon nonstock bank) . [1997 c.631 §39]

Source: Section 707.035 — Conversion of trust company to Oregon bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 709.980 — OR Code / Title 53 / Chapter 709 / Section 709.980
709.980 Civil penalties
Status: in_force

(1) Any person who violates ORS 709.270 (Disclosure of communications and writings) or 709.280 (Loans to directors, officers, employees or affiliates) or any rule adopted under ORS 709.170 (Establishment of and investment in common trust funds) (3) shall forfeit a civil penalty in an amount determined by the director of not more than $2,500 for each offense.

(2) All money forfeited under this section shall be paid to the State Treasurer to be deposited in the Consumer and Business Services Fund.

(3) The civil penalty may be recovered as provided in ORS 706.980 (Civil penalties) . [1975 c.544 §29c]

Source: Section 709.980 — Civil penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 713.140 — OR Code / Title 53 / Chapter 713 / Section 713.140
713.140 Contents of application for certificate of authority
Status: in_force

(1) To procure a certificate of authority to conduct banking business in this state, an out-of-state bank or extranational institution shall apply to the Director of the Department of Consumer and Business Services. The application must state:

(a) The name, in accordance with the provisions of ORS 713.130 (Name of out-of-state bank or extranational institution) .

(b) The state or country under the laws of which the out-of-state bank or extranational institution is organized.

(c) The date of organization.

(d) The period of duration of the out-of-state bank or extranational institution, if the duration is not perpetual.

(e) A mailing address to which the director may send notices.

(f) The address of the main office of the out-of-state bank or extranational institution in the state or country under the laws of which the out-of-state bank or extranational institution is organized.

(g) The name of the proposed registered agent and the street address in this state of the proposed registered office that will receive service of process for the out-of-state bank or extranational institution.

(h) The names and addresses of the president and secretary of the out-of-state bank or extranational institution.

(i) Additional information that the director by rule requires.

(2) The director may prescribe and furnish forms for the application. The president or a vice president and secretary or an assistant secretary of the out-of-state bank or extranational institution shall sign the application.

(3) The out-of-state bank or extranational institution shall also take the steps necessary to become authorized to transact business:

(a) If a corporation, as a foreign corporation under ORS chapter 60;

(b) If a limited partnership, as a foreign limited partnership under ORS chapter 70;

(c) If a limited liability company, as a foreign limited liability company under ORS chapter 63; or

(d) If a business trust, as a business trust under ORS 128.560 (“Business trust” described) to 128.600 (Filing, service, copying and certification fees) .

(4) If the out-of-state bank is an unincorporated company, partnership or association, the out-of-state bank shall register the out-of-state bank’s name as an assumed business name as provided in ORS chapter 648. [1989 c.324 §59; 1997 c.631 §295; 2011 c.263 §7]

Source: Section 713.140 — Contents of application for certificate of authority; rules; authority to transact business under other laws , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 716.024 — OR Code / Title 53 / Chapter 716 / Section 716.024
716.024 Provisions of Bank Act applicable to Oregon savings banks and Oregon stock savings banks
Status: in_force

(1) The provisions of ORS chapter 706 relating to financial institutions, the following sections in the Bank Act and any other provisions of the Bank Act that by their terms pertain to Oregon savings banks shall apply to Oregon savings banks: ORS 707.075 (Banking institution name) , 707.080 (Investigation and ruling on application) , 707.090 (Refusal to file articles of incorporation or grant charter after approval of application) , 707.100 (Time for submitting articles of incorporation) , 707.120 (Issuance of certificate of incorporation when filings conform to law) , 707.145 (Grounds for refusing authority to organize) , 707.150 (Refusal of authority to organize) , 707.155 (Authority to require additional investigatory information) , 707.170 (Effective date of charter) , 707.180 (Location of principal place of business) , 707.252 (Filing of amended articles of incorporation) , 707.254 (Effective date of amended articles of incorporation) , 707.625 (Exemption from personal liability for good faith acts or omissions in compliance with statute, rule or order) , 707.642 (Organizational meeting of directors) , 707.646 (Staggered terms for directors) (1), 707.660 (General standards for directors) , 707.665 (General standards for officers) , 707.670 (Regular meetings of directors) to 707.764 (Application of ORS 707.744 to 707.762) , 708A.175 (Right to purchase, hold and dispose of real and personal property) , 708A.405 (Deposits) , 708A.410 (Savings accounts) , 708A.420 (Notice to depositor upon change in terms, charges, withdrawal conditions or decrease in interest rate) to 708A.535 (Granting security interests in institution assets) , 708A.590 (Charging off real estate assets) , 708A.600 (Charging off losses) , 708A.640 (Receiving illegal compensation) , 708A.645 (Illegal guaranty or indorsement) , 708A.655 (Procedures for opening safe deposit box after death of person who was sole lessee or last surviving lessee of box) , 708A.990 (Civil penalties) , 711.405 (When institution deemed insolvent) to 711.670 (Compliance with ORS 711.620 to 711.670 as defense to depositor’s action) , 711.980 (Civil penalties) and 714.075 (Reports of deposits held at branches) .

(2) In addition to the statutes listed in subsection (1) of this section, to the extent applicable, the following provisions of the Bank Act apply to Oregon stock savings banks: ORS 707.050 (Initial paid-in capital requirement) , 707.110 (Execution and submission of articles of incorporation) , 707.140 (Submission of organization information) , 707.195 (Offering documents for sale of stock) , 707.200 (Payments by subscribers of full amount of stock subscriptions) to 707.230 (Transfer of stock) , 707.244 (Amendment of articles of incorporation) to 707.250 (Execution of amendments to articles of incorporation) , 707.256 (Restated articles of incorporation) , 707.258 (Terms of class of shares or series within class determined by board of directors) to 707.272 (Paid-in capital) , 707.350 (Payment prior to issuance of certificate of stock) , 707.380 (Limitation on dividends) to 707.410 (Record of dividends declared) , 707.415 (Report of dividends declared) , 707.610 (Annual and special stockholder meetings) to 707.623 (Modification of quorum or voting requirements) , 707.644 (Committees of board of directors) , 707.646 (Staggered terms for directors) (2) and 707.648 (Removal of directors by shareholders) . [1973 c.797 §345; 1975 c.544 §44; 1977 c.555 §15; 1979 c.88 §24; 1981 c.192 §24; 1983 c.37 §25; 1983 c.367 §4; 1985 c.762 §46; 1985 c.786 §46; 1985 c.796 §4; 1987 c.197 §8a; 1989 c.324 §72; 1997 c.631 §331; 1999 c.506 §4]

Source: Section 716.024 — Provisions of Bank Act applicable to Oregon savings banks and Oregon stock savings banks , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 709.145 — OR Code / Title 53 / Chapter 709 / Section 709.145
709.145 Investment of capital
Status: in_force

The capital of a trust company may be invested in the securities specified in ORS 709.040 (Securities eligible for deposit) . [1973 c.797 §193]

Source: Section 709.145 — Investment of capital , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 711.595 — OR Code / Title 53 / Chapter 711 / Section 711.595
711.595 Destruction of liquidation records in possession of director
Status: in_force

If any files, records, documents, books of account or other papers have been taken over and are in the possession of the Director of the Department of Consumer and Business Services in connection with the liquidation of an insolvent institution, the director may, after one year from the declaration of the final dividend or from the date the liquidation has been closed by order of the supervising court, destroy any of the files, records, documents, books of account or other papers which appear to the director to be unnecessary for future reference as part of the liquidation and files of the office of the director. [Amended by 1973 c.797 §289]

Source: Section 711.595 — Destruction of liquidation records in possession of director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 706.515 — OR Code / Title 53 / Chapter 706 / Section 706.515
706.515 Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network
Status: in_force

(1) The Director of the Department of Consumer and Business Services may enter into cooperative, coordinating and information sharing agreements with other bank supervisory agencies, with the Financial Crimes Enforcement Network established by order of the United States Secretary of the Treasury or with an organization affiliated with or representing one or more bank supervisory agencies. The director may enter into the agreements in order to examine or supervise a non-Oregon institution branch or other office or place of business located in this state or to examine or supervise a branch of a banking institution located in another state. The director may accept an agency report made pursuant to an agreement entered into under this section in lieu of the director’s own examination or investigation. The agreement may resolve conflicts of laws and specify the manner in which examination, supervision and application processes will be coordinated between this state and the home state of the non-Oregon institution.

(2) The director may enter into a contract with a bank supervisory agency that has concurrent jurisdiction over a banking institution or non-Oregon institution operating a branch or other office or place of business in this state to engage the services of the agency’s examiners at a reasonable rate of compensation or to provide the services of the director’s examiners to the agency at a reasonable rate of compensation. The contract is exempt from competitive bidding requirements under the provisions of ORS chapters 279A and 279B. The contract may resolve conflicts of laws and specify the manner in which examination, supervision and application processes will be coordinated between this state and the home state of the non-Oregon institution.

(3) The director may enter into joint examinations or joint enforcement actions with other bank supervisory agencies that have concurrent jurisdiction over a non-Oregon institution branch or other office or place of business located in this state or a branch of a banking institution located in another state. Conducting a joint examination or enforcement action under this section does not prevent the director from conducting an independent examination or enforcement action at any time if the director determines that carrying out the director’s responsibilities or ensuring compliance with the laws of this state requires the independent action. With respect to examinations or enforcement actions that involve non-Oregon institutions, the director shall recognize:

(a) The exclusive authority of the banking supervisory agency of the home state or country of the non-Oregon institution over corporate governance matters; and

(b) The primary responsibility of the banking supervisory agency of the home state or country of the non-Oregon institution over safety and soundness matters.

(4) The director may share fees collected from non-Oregon institutions under the provisions of the Bank Act with another bank supervisory agency or an organization affiliated with or representing one or more bank supervisory agencies in accordance with agreements between the agency or organization and the director. [1997 c.631 §27; 2003 c.794 §323; 2009 c.541 §29]

Source: Section 706.515 — Agreements with other bank supervisory agencies and Financial Crimes Enforcement Network; contracts for use of bank examiners; joint examination or enforcement; fees , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 716.535 — OR Code / Title 53 / Chapter 716 / Section 716.535
716.535 Investments in common stock of federally chartered corporation providing secondary mortgage sale markets and Federal Home Loan Bank
Status: in_force

A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in the common stock of:

(1) Any federally chartered corporation that is chartered for the purpose of providing secondary markets for the sale of mortgages by savings banks.

(2) The Federal Home Loan Bank. [1975 c.544 §46]

Source: Section 716.535 — Investments in common stock of federally chartered corporation providing secondary mortgage sale markets and Federal Home Loan Bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 709.070 — OR Code / Title 53 / Chapter 709 / Section 709.070
709.070 Right of action against deposit
Status: in_force

A person who suffers loss or damage because of the breach of any trust committed to a trust company may recover the amount of the loss or damage out of the moneys or securities deposited under ORS 709.030 (Approval to transact trust business) with the director by the trust company. [Amended by 1973 c.797 §187; 1997 c.631 §207]

Source: Section 709.070 — Right of action against deposit , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 707.610 — OR Code / Title 53 / Chapter 707 / Section 707.610
707.610 Annual and special stockholder meetings
Status: in_force

(1) A stockholders’ meeting to elect a board of directors and transact other business must be held in this state within 120 days after the close of the fiscal year of the institution or Oregon stock savings bank. If the Director of the Department of Consumer and Business Services issued an order to the institution or Oregon stock savings bank under ORS 706.580 (Illegal, unauthorized or unsafe practices) within the fiscal year immediately preceding the date of the stockholders’ meeting, the institution or Oregon stock savings bank shall include in every notice required for the stockholders’ meeting under ORS 707.611 (Notice of meeting) :

(a) A copy of ORS 706.580 (Illegal, unauthorized or unsafe practices) ;

(b) A statement that the institution or Oregon stock savings bank received an order or orders from the director; and

(c) A reasonably detailed description of the order or orders.

(2) The chief executive officer, a majority of the board of directors, any other person or group authorized by the articles of incorporation or bylaws of the institution or Oregon stock savings bank to call meetings, or not fewer than three stockholders holding in the aggregate not less than one-third of the outstanding voting stock of the institution or Oregon stock savings bank may call a special meeting of stockholders. The articles of incorporation or bylaws of the institution or Oregon stock savings bank may reserve to an officer or the board of directors the authority to designate the time and place of the meeting, except that the institution or Oregon stock savings bank must hold the meeting in this state. Unless the Director of the Department of Consumer and Business Services consents to a later meeting date, the institution or Oregon stock savings bank shall hold a meeting not later than 60 days after issuing the call for the meeting. [Amended by 1957 c.59 §1; 1967 c.170 §1; 1973 c.797 §84; 1983 c.296 §3; 1985 c.786 §27; 1987 c.177 §1; 1989 c.324 §39; 1997 c.631 §78; 2015 c.244 §27]

Source: Section 707.610 — Annual and special stockholder meetings; notice of orders , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.991 — OR Code / Title 53 / Chapter 716 / Section 716.991
716.991 Civil penalties
Status: in_force

Any person who violates ORS 716.850 (False advertising of surplus or guaranty fund prohibited) shall forfeit and pay to the State Treasurer to be deposited in the Consumer and Business Services Fund a civil penalty in an amount determined by the Director of the Department of Consumer and Business Services of not more than $2,500. The civil penalty may be recovered as provided in ORS 706.980 (Civil penalties) . [Formerly 716.855]

Source: Section 716.991 — Civil penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 716.558 — OR Code / Title 53 / Chapter 716 / Section 716.558
716.558 Investment in notes or bonds secured by mortgages or trust deeds on real property leases
Status: in_force

A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) , in notes or bonds secured by mortgage or deed of trust upon leasehold estates in real property, if the lease is binding upon the owners of the fee title to the leased premises, in full force and free from default. [1973 c.797 §371c; 1985 c.554 §7]

Source: Section 716.558 — Investment in notes or bonds secured by mortgages or trust deeds on real property leases , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 711.400 — OR Code / Title 53 / Chapter 711 / Section 711.400
711.400 Supervision of liquidation by circuit court
Status: in_force

The circuit court of the county in which the principal office of an institution is located:

(1) Shall, as directed in ORS 711.400 (Supervision of liquidation by circuit court) to 711.615 (Court filing fees) , supervise the liquidation of an institution; and

(2) Is referred to in ORS 711.400 (Supervision of liquidation by circuit court) to 711.615 (Court filing fees) as the supervising court. [1973 c.797 §250]

Source: Section 711.400 — Supervision of liquidation by circuit court; called “supervising court.” , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 716.187 — OR Code / Title 53 / Chapter 716 / Section 716.187
716.187 Changes in registered office or agent
Status: in_force

(1) An Oregon savings bank may change its registered office or registered agent by delivering to the Director of the Department of Consumer and Business Services for filing a statement of change that sets forth:

(a) The name of the Oregon savings bank;

(b) If the registered office is to be changed, the address, including street and number, of the new registered office;

(c) If the registered agent is to be changed, the name of the new registered agent and that the new agent has consented to the appointment; and

(d) That after the change or changes are made, the street addresses of its registered office and the business office of its registered agent will be identical.

(2) If a registered agent changes the street address of the agent’s business office, the registered agent shall change the street address of the registered office of the Oregon savings bank for which the agent is the registered agent by notifying the Oregon savings bank in writing of the change and signing, either manually or in facsimile, and delivering to the director a statement that complies with the requirements of subsection (1) of this section and recites that the Oregon savings bank has been notified of the change.

(3) The filing of the statement by the director terminates the existing registered office or agent, or both, on the effective date of the filing and establishes the newly appointed registered office or agent, or both, as that of the Oregon savings bank. [2005 c.192 §9]

Source: Section 716.187 — Changes in registered office or agent , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.560 — OR Code / Title 53 / Chapter 708a / Section 708a.560
708A.560 Real and personal property used in institution’s business
Status: in_force

(1) Real estate, furniture, fixtures, vaults and safe deposit boxes necessary or convenient for the operation of an institution’s business shall be carried on the books of the institution in an amount not to exceed 50 percent of its capital, as defined in ORS 708A.290 (“Capital” defined for ORS 708A.290 to 708A.375) .

(2) Within guidelines established by rules promulgated under ORS 183.310 (Definitions for chapter) , 183.315 (Application of provisions of chapter to certain agencies) , 183.330 (Description of organization) , 183.335 (Notice) and 183.341 (Model rules of procedure) to 183.410 (Agency determination of applicability of rule or statute to petitioner) the Director of the Department of Consumer and Business Services may authorize an institution to exceed the limitations prescribed in this section.

(3) Personal property acquired for lease to others in accordance with ORS 708A.180 (Acquisition of personal property for leasing purposes) is not subject to the limitations of this section. [1997 c.631 §187]

Source: Section 708A.560 — Real and personal property used in institution’s business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.350 — OR Code / Title 53 / Chapter 707 / Section 707.350
707.350 Payment prior to issuance of certificate of stock
Status: in_force

(1) An institution or Oregon stock savings bank may not issue any certificate of stock until the institution or Oregon stock savings bank receives full payment for the stock. A person other than a director, officer or employee of the institution or Oregon stock savings bank that purchases stock after the initial organization of the institution or Oregon stock savings bank must pay for the purchase in cash or by exchanging real property or improvements on real property. The Director of the Department of Consumer and Business Services must approve the real property and improvements the person uses for payment as meeting all applicable requirements of law and all other conditions and standards that the director adopts by rule, including but not limited to a proper appraisal by a qualified appraiser. Stock that the institution or Oregon stock savings bank issues after initial organization to a director, officer or employee of the institution or Oregon stock savings bank may be issued for consideration that consists of cash, real property and improvements to real property, tangible personal property, other securities of the institution or Oregon stock savings bank or, subject to subsection (2) of this section, services the director, officer or employee performed or will perform under contract. In the absence of fraud, the judgment of the board of directors of the institution or Oregon stock savings bank as to the adequacy of the consideration received for the stock issued under this section is conclusive and upon issuance in payment of such consideration shall be fully paid.

(2) An institution or Oregon stock savings bank may not issue stock to a director, officer or employee of the institution or Oregon stock savings bank in consideration of services the director, officer or employee performed or will perform under contract unless the plan to issue the stock is approved as follows:

(a) The institution or Oregon stock savings bank shall submit the plan to the Director of the Department of Consumer and Business Services for approval. For purposes of this subsection, the director approves the plan if the director either approves the plan in writing or does not disapprove the plan in a writing the director delivers to the institution or Oregon stock savings bank within 30 days after the director receives a copy of the plan.

(b) The holders of at least two-thirds of the outstanding shares of the institution or Oregon stock savings bank entitled to vote on the plan approve the plan in a vote at the annual shareholders’ meeting or a special shareholders’ meeting. Written or printed notice of the plan must be delivered personally or by mail to each shareholder entitled to vote at the meeting. The notice must be delivered or mailed not less than 10 days and not more than 60 days before the date of the meeting during which the vote will be taken. The notice must describe the plan in reasonable detail, state that the Director of the Department of Consumer and Business Services must approve or not disapprove the plan, that the holders of at least two-thirds of the outstanding shares of the institution or Oregon stock savings bank that are entitled to vote on the plan must approve the plan in accordance with this paragraph and that issuing shares under the plan will dilute the interests of existing shareholders in the institution or the Oregon stock savings bank.

(3) Notwithstanding subsections (1) and (2) of this section, an institution or Oregon stock savings bank may create and issue the number of shares of stock stated in the articles of incorporation or amendments to the articles of incorporation. [Amended by 1969 c.635 §2; 1973 c.797 §76; 1977 c.135 §16; 1983 c.37 §4; 1997 c.631 §73; 2007 c.348 §1; 2015 c.244 §25]

Source: Section 707.350 — Payment prior to issuance of certificate of stock; consideration; approvals , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.520 — OR Code / Title 53 / Chapter 716 / Section 716.520
716.520 Investments in bankers’ acceptances, bills of exchange, savings or time accounts
Status: in_force

(1) A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in:

(a) Bankers’ acceptances and bills of exchange of the kind and maturities made eligible by law for rediscount with Federal Reserve Banks, if they are accepted by an institution or a national bank.

(b) Bills of exchange drawn by the seller on the purchaser of goods and accepted by the purchaser, if they are of the kind and maturities made eligible by law for rediscount with Federal Reserve Banks and are indorsed by a national bank or an institution.

(c) Savings or time accounts insured in part or wholly by an agency of the federal government.

(2) Not more than 20 percent of the assets of a savings bank may be invested in the acceptances mentioned in subsection (1) of this section. Not more than five percent of the aggregate credited to the depositors of a savings bank may be invested in the acceptances of or deposited with an institution or a national bank of which a director of the savings bank is a director. The aggregate amount of the liability of an institution or a national bank to a savings bank, whether as principal or indorser, for acceptances held by the savings bank and deposits made with it, may not exceed 25 percent of the stockholders’ equity of the institution or of the paid-in capital and retained earnings of the national bank. [Amended by 1973 c.797 §376; 1999 c.59 §223]

Source: Section 716.520 — Investments in bankers’ acceptances, bills of exchange, savings or time accounts; limits , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 711.495 — OR Code / Title 53 / Chapter 711 / Section 711.495
711.495 Action by director to collect balance due on stock or stock assessment
Status: in_force

If an institution becomes insolvent and is taken in charge by the Director of the Department of Consumer and Business Services for liquidation, the director may maintain an action against any stockholder, whose stock or assessment on the stock has not been fully paid, for the collection of the unpaid balance. The action may be prosecuted against one or more stockholders, singly or collectively. [Amended by 1973 c.797 §265]

Source: Section 711.495 — Action by director to collect balance due on stock or stock assessment , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 706.780 — OR Code / Title 53 / Chapter 706 / Section 706.780
706.780 Notice to law enforcement officers of Bank Act violations
Status: in_force

If the Director of the Department of Consumer and Business Services has reason to believe that a person has violated any provision of the Bank Act for which criminal prosecution is provided, the director shall give the information relative to the violation to the appropriate federal, state or local law enforcement officer having jurisdiction of the violation. However, this section does not apply when a director or officer of an Oregon operating institution has reported the information to the appropriate law enforcement agency under ORS 707.735 (Officers and directors to notify law enforcement officers of certain criminal violations) . [Formerly 706.430; 1997 c.631 §21]

Source: Section 706.780 — Notice to law enforcement officers of Bank Act violations; exception , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 716.545 — OR Code / Title 53 / Chapter 716 / Section 716.545
716.545 Investments in bonds of Dominion of Canada
Status: in_force

A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in bonds issued by the Dominion of Canada for which the faith of the Dominion of Canada is pledged, or bonds issued or guaranteed by a province of the Dominion of Canada. Such investments may be made only if:

(1) The interest and principal of such bonds is payable in the United States, or with exchange to a city in the United States, in lawful money of the United States or its equivalent; and

(2) The bonds at the time of purchase pursuant to the authority of this section are rated in one of the four highest grades by a rating organization recognized in the United States that has been regularly engaged for a period of 10 years or more in rating or grading bonds. [1959 c.185 §3; 1977 c.135 §35]

Source: Section 716.545 — Investments in bonds of Dominion of Canada , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.100 — OR Code / Title 53 / Chapter 707 / Section 707.100
707.100 Time for submitting articles of incorporation
Status: in_force

Within 30 days after authority to organize has been finally granted, the prospective incorporators shall submit to the Director of the Department of Consumer and Business Services articles of incorporation. If articles of incorporation are not received by the director within the specified time, the authority to organize is void. [Amended by 1973 c.797 §57; 1997 c.631 §42]

Source: Section 707.100 — Time for submitting articles of incorporation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.205 — OR Code / Title 53 / Chapter 716 / Section 716.205
716.205 Salaries of certain directors
Status: in_force

(1) Subject to the written approval of the Director of the Department of Consumer and Business Services, the board of directors of a savings bank may fix the fee to be paid directors who are not acting as officers or employees of the savings bank.

(2) An attorney for a savings bank, although a director thereof, may receive a reasonable compensation for professional services. [1973 c.797 §359]

Source: Section 716.205 — Salaries of certain directors , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.575 — OR Code / Title 53 / Chapter 708a / Section 708a.575
708A.575 Market-making corporations
Status: in_force

An institution shall carry on the institution’s books, at a value that does not exceed $1, any investments in a corporation or limited liability company that is engaged in the business of purchasing the institution’s stock for purposes of holding and making a market for the stock. [1997 c.631 §190; 2015 c.244 §68]

Source: Section 708A.575 — Market-making corporations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 714.305 — OR Code / Title 53 / Chapter 714 / Section 714.305
714.305 Exempted ATMs and night deposit facilities
Status: in_force

The requirements of ORS 714.280 (Legislative intent of ATM and night deposit facility law) (2) and 714.285 (Adoption of procedures for evaluating safety of ATM or night deposit facilities) to 714.295 (Lighting requirements for ATMs and night deposit facilities) shall not apply to any ATM or night deposit facility that is:

(1) Located inside of a building, unless it is a freestanding installation that exists for the sole purpose of providing an enclosure for the ATM or night deposit facility.

(2) Located inside of a building, except to the extent that a transaction can be conducted from outside the building.

(3) Located in any area, including any access area, building, enclosed space or parking area that is not controlled by the operator. [1993 c.381 §15]

Source: Section 714.305 — Exempted ATMs and night deposit facilities , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 711.510 — OR Code / Title 53 / Chapter 711 / Section 711.510
711.510 Deposit of money collected under ORS 711.495
Status: in_force

(1) The moneys collected by the Director of the Department of Consumer and Business Services under ORS 711.495 (Action by director to collect balance due on stock or stock assessment) shall be, from time to time, deposited in one or more insured institutions, subject to the order of the director.

(2) The director may require any bank in which the director deposits money under this section to furnish security therefor satisfactory to the director for the safekeeping and prompt payment of the money deposited. [Amended by 1973 c.797 §268; 1997 c.631 §248]

Source: Section 711.510 — Deposit of money collected under ORS 711.495; security for deposit , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 717.235 — OR Code / Title 53 / Chapter 717 / Section 717.235
717.235 License issuance
Status: in_force

(1) Upon the filing of a complete application, the Director of the Department of Consumer and Business Services shall review the application and may investigate the financial condition and responsibility, financial and business experience, character and general fitness of the applicant. The director may conduct an on-site investigation of the applicant, the reasonable cost of which shall be paid by the applicant. The director may disapprove an application if the director finds that the applicant:

(a) Is insolvent, either in the sense that the person’s liabilities exceed the person’s assets or that the person cannot meet obligations as they mature, or that the person is in such financial condition that the person cannot continue in business with safety to the person’s customers;

(b) Has engaged in dishonest, fraudulent or illegal practices or conduct in any business or profession;

(c) Has willfully or repeatedly violated or failed to comply with a provision of the Oregon Bank Act, Oregon Securities Law, Oregon Credit Union Act, Oregon Consumer Finance Act or Pawnbrokers Act or any rule or order of the director adopted under those laws;

(d) Has been convicted of a crime, an essential element of which is fraud;

(e) Is not qualified to engage in the business of money transmission on the basis of such factors as training, experience and knowledge of the business;

(f) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving an aspect of the banking business or of the money transmission business;

(g) Is the subject of an order of the director subjecting the person to a civil penalty or removing the person from an office in any entity regulated by the director; or

(h) Is the subject of an order entered within the past five years, subjecting the person to a civil penalty or removing the person from an office in a state or federally chartered, licensed or regulated financial services company.

(2) The director may also disapprove an application if the director finds that a controlling person is subject to a provision of subsection (1) of this section except subsection (1)(a) or (e) of this section. If a controlling person is the sole owner of the applicant, then the director may disapprove an application if the director finds that the controlling person is subject to a provision of subsection (1) of this section.

(3) If the director finds that the applicant’s business will be conducted honestly, fairly and in a manner commanding the confidence and trust of the community, and that the applicant has fulfilled the requirements imposed by ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) and has paid the required license fee, the director shall issue a license to the applicant authorizing the applicant to conduct money transmission business in this state for a term of one year. If these requirements have not been met, the director shall deny the application in writing and shall describe the reasons for the denial.

(4) An order of the director denying an application under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) shall state the grounds upon which the order is based and shall not become effective for at least 20 days after written notice of the order has been sent by registered or certified mail to the applicant at the principal place of business of the applicant.

(5) Appeals from an order of the director denying an application may be taken to the courts of this state as provided by ORS chapter 183. [1999 c.571 §9; 2009 c.541 §37; 2011 c.597 §289]

Source: Section 717.235 — License issuance; grounds for disapproval of application; appeals , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 708a.460 — OR Code / Title 53 / Chapter 708a / Section 708a.460
708A.460 Application of ORS 708A.465 to 708A.475
Status: in_force

The provisions of ORS 708A.465 (Ownership of multiple-party accounts) to 708A.475 (Rights of survivorship based on form of account) concerning beneficial ownership as between parties, or as between parties and P.O.D. payees or beneficiaries of multiple-party accounts, apply only to controversies between the parties, the P.O.D. payees or the beneficiaries and the creditors and other successors of the parties, P.O.D. payees or beneficiaries, and do not apply to the power of withdrawal that a party, P.O.D. payee or beneficiary has under the terms of account contracts. The provisions of ORS 708A.485 (Payment of deposit in multiple-party account to one or more parties) to 708A.510 (Right of institution to setoff) govern the liability of insured institutions that make payments under ORS 708A.485 (Payment of deposit in multiple-party account to one or more parties) to 708A.510 (Right of institution to setoff) , and an insured institution’s setoff rights. [1997 c.631 §173; 2015 c.244 §56]

Source: Section 708A.460 — Application of ORS 708A.465 to 708A.475; liability and setoff rights of financial institutions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 716.626 — OR Code / Title 53 / Chapter 716 / Section 716.626
716.626 Certificates indicating contribution to guaranty or expense funds
Status: in_force

(1) An Oregon nonstock bank may issue transferable certificates showing the amounts contributed by any incorporator or director to the guaranty or expense funds of the Oregon nonstock bank.

(2) The certificate shall show that it does not constitute a liability of the Oregon nonstock bank, except as provided in ORS 716.800 (Repayment of contributions made to expense fund and guaranty fund) .

(3) A certificate shall not be transferred by an incorporator or director without the prior written consent of the Director of the Department of Consumer and Business Services. [1973 c.797 §381; 1997 c.631 §351]

Source: Section 716.626 — Certificates indicating contribution to guaranty or expense funds , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 706.725 — OR Code / Title 53 / Chapter 706 / Section 706.725
706.725 False statements, reports and book entries
Status: in_force

An officer, director, stockholder or employee of any Oregon operating institution shall not:

(1) Knowingly subscribe to or make or cause to be made any false statement or report to the Director of the Department of Consumer and Business Services or any false entry in the books or accounts of the Oregon operating institution.

(2) Knowingly subscribe to or exhibit false papers with the intent to deceive any person authorized to examine into the affairs of the Oregon operating institution.

(3) Knowingly state or publish any false report or statement of the Oregon operating institution or prepare any false minutes, with intent to deceive the directors of the Oregon operating institution or any person authorized to examine the affairs of the Oregon operating institution.

(4) Make improper or fail to make proper entry upon the books or records or in any statement or report of the Oregon operating institution with intent to deceive or conceal the true condition of the Oregon operating institution. [1973 c.797 §44; 1997 c.631 §19]

Source: Section 706.725 — False statements, reports and book entries , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 706.990 — OR Code / Title 53 / Chapter 706 / Section 706.990
706.990 Criminal penalties
Status: in_force

Violation of ORS 706.725 (False statements, reports and book entries) is a Class C felony. [Amended by 1973 c.797 §48; 1975 c.544 §6]

Source: Section 706.990 — Criminal penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 716.584 — OR Code / Title 53 / Chapter 716 / Section 716.584
716.584 Limitations on single loans on real estate
Status: in_force

(1) If deposits are less than $1 million, a single loan on real estate shall not exceed $10,000. When deposits exceed $1 million but are less than $2 million, a single loan on real estate shall not exceed two and one-half percent of the deposits. When deposits exceed $2 million, a single loan on real estate shall not exceed two percent of the savings bank’s deposit liability.

(2) A loan may exceed the limitations prescribed in subsection (1) of this section if the borrower furnishes the savings bank with a copy of an agreement entered into with a financially responsible person wherein the person agrees to refinance or repurchase, without recourse, the entire loan:

(a) Upon completion of the construction, if the loan is a construction loan; or

(b) Within six months from the date of the loan, if the loan is not a construction loan. [Formerly 716.500]

Source: Section 716.584 — Limitations on single loans on real estate; exceptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.495 — OR Code / Title 53 / Chapter 708a / Section 708a.495
708A.495 P.O.D. account
Status: in_force

An insured institution may pay any P.O.D. account, on request, to any original party to the account. The insured institution may pay, on request, the P.O.D. payee or the personal representative or heirs of a deceased P.O.D. payee upon presentation to the insured institution of proof of death showing that the P.O.D. payee survived all persons named as original parties. The insured institution may pay the personal representative or heirs of a deceased original party if proof of death is presented to the insured institution showing that the decedent survived all other persons named on the account either as an original party or as P.O.D. payee. [1997 c.631 §180; 2015 c.244 §61]

Source: Section 708A.495 — P.O.D. account; payment to any original party; payment to others , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 708a.130 — OR Code / Title 53 / Chapter 708a / Section 708a.130
708A.130 Definition for ORS 708A.135 to 708A.145
Status: in_force

As used in ORS 708A.135 (Investment in bank service corporation) to 708A.145 (Authorized services of bank service corporations) , unless the context requires otherwise, “invest” includes any advance of funds to a bank service corporation, whether by the purchase of stock, the making of a loan or otherwise, but does not include a payment for rent earned, goods sold and delivered or services rendered prior to the making of the payment. [1997 c.631 §121]

Source: Section 708A.130 — Definition for ORS 708A.135 to 708A.145 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.246 — OR Code / Title 53 / Chapter 707 / Section 707.246
707.246 Manner of amending articles of incorporation
Status: in_force

Amendments to the articles of incorporation shall be made in the following manner:

(1) If an institution or Oregon stock savings bank has issued shares of stock:

(a) The board of directors shall adopt a resolution setting forth the proposed amendment and directing that it be submitted to a vote at a meeting of shareholders, which may be either an annual or a special meeting.

(b) Written or printed notice setting forth the proposed amendment or a summary of the changes to be effected shall be given to each shareholder of record entitled to vote within the time and in the manner provided in this chapter for giving notice of meetings of shareholders. If the meeting is an annual meeting, the proposed amendment or such summary may be included in the notice of such annual meeting.

(c) At such meeting, a vote of the shareholders entitled to vote thereon shall be taken on the proposed amendment. The proposed amendment shall be adopted upon receiving the affirmative vote of the holders of at least a majority of the shares entitled to vote thereon, unless any class of shares is entitled to vote thereon as a class, in which event the proposed amendment shall be adopted upon receiving the affirmative vote of the holders of at least a majority of the shares of each class of shares entitled to vote thereon as a class and of the total shares entitled to vote thereon.

(2) Intentionally left blank —Ed.

(a) If an institution or Oregon stock savings bank has not issued any shares of stock, the articles of incorporation may be amended by resolution adopted by a majority of the directors.

(b) If the provisions of the articles of incorporation relating to the duration, purposes, authorized shares, rights or preferences of shares, or internal affairs of the institution or Oregon stock savings bank are amended by the directors prior to the issuance of stock, the directors shall immediately notify in writing each person who is a party to any agreement for the subscription of stock of the institution or Oregon stock savings bank. Such notice shall set forth the text of the amendment and state that the subscriber may, within 30 days after delivery or mailing of the notice of amendment, rescind the subscriber’s subscription by notice in writing delivered or mailed to the directors at an address specified. If a notice of rescission is not delivered or mailed within 30 days, the subscriber may not thereafter assert the fact of the amendment as the basis for avoiding the subscription agreement or asserting any claim against any person.

(3) Any number of amendments may be submitted to the shareholders or directors and voted upon by them at one meeting. [1989 c.324 §11; 1997 c.631 §60]

Source: Section 707.246 — Manner of amending articles of incorporation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 711.540 — OR Code / Title 53 / Chapter 711 / Section 711.540
711.540 Approval or rejection of claims
Status: in_force

(1) Within a reasonable time after the expiration of the time fixed in the notice to creditors, the Director of the Department of Consumer and Business Services shall approve or reject, in whole or in part, every claim filed.

(2) Depositors’ claims that assert no priority or preference other than the preference given under ORS 711.520 (Priority of claimants against assets of Oregon stock bank that is insolvent or in liquidation) to depositors and that are filed after the expiration of the time fixed in the notice to creditors for the filing of all claims shall be approved or rejected, in whole or in part, within a reasonable time after the claims are filed with the director.

(3) The approval or rejection of any claim by the director shall be indorsed in writing upon the claim and the director need not state the reasons for the approval or rejection. The director may at any time alter or amend the previous approval or rejection of any claim. [Amended by 1973 c.797 §274; 2003 c.14 §443]

Source: Section 711.540 — Approval or rejection of claims , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 707.262 — OR Code / Title 53 / Chapter 707 / Section 707.262
707.262 Share options
Status: in_force

(1) Subject to any provisions set forth in its articles of incorporation and subject to preemptive rights, if any, of existing shareholders, an institution or Oregon stock savings bank may create and issue, whether or not in connection with the issuance and sale of any of its shares or other securities, rights or options entitling the holders thereof to purchase from the institution or Oregon stock savings bank shares of any class or classes. Such rights or options shall be evidenced in such manner as the board of directors shall approve and, subject to the provisions of the articles of incorporation, shall set forth the terms upon which, the time or times within which and the price or prices at which such shares may be purchased from the institution or Oregon stock savings bank on the exercise of any such right or option.

(2) The rights or options described in subsection (1) of this section may not be issued to a director, officer or employee of the institution or Oregon stock savings bank or of any subsidiary thereof unless the issuance:

(a) Is to all shareholders of the institution, Oregon stock savings bank or subsidiary thereof;

(b) Is approved at the annual meeting or a special meeting by the holders of at least two-thirds of the outstanding shares entitled to vote thereon; or

(c) Is pursuant to a plan previously so approved.

(3) In the absence of fraud in the transaction, the judgment of the board of directors as to the adequacy of the consideration received for the rights or options described in subsection (1) of this section shall be conclusive. [1989 c.324 §29; 1997 c.631 §68; 2001 c.377 §58]

Source: Section 707.262 — Share options; limits on issuance , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 707.621 — OR Code / Title 53 / Chapter 707 / Section 707.621
707.621 Quorum
Status: in_force

(1) Unless otherwise provided in the articles of incorporation, a majority of the shares entitled to vote, represented in person or by proxy, shall constitute a quorum at a meeting of shareholders. If a quorum is present, the affirmative vote of the majority of the shares represented at the meeting at the time the vote is taken and entitled to vote on the subject matter shall be the act of the shareholders, unless the vote of a greater number or voting by classes is required by the Bank Act or the articles of incorporation.

(2) Once a share is represented at a meeting, it is deemed present for quorum purposes for the remainder of the meeting and for any adjournment of that meeting unless a new record date is or must be set for that adjourned meeting. [1989 c.324 §46; 1997 c.631 §86]

Source: Section 707.621 — Quorum , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 713.150 — OR Code / Title 53 / Chapter 713 / Section 713.150
713.150 Submission of application
Status: in_force

(1) An out-of-state bank or extranational institution shall submit an application for a certificate of authority, together with an application fee of $2,500, to the Director of the Department of Consumer and Business Services for filing. The out-of-state bank or extranational institution shall also deliver with the completed application a certificate of existence or a document of similar import, duly authenticated by the official with custody of records in the state or country under whose law the out-of-state bank or extranational institution is organized and a copy of the documents filed with the Secretary of State to comply with ORS 713.140 (Contents of application for certificate of authority) (3).

(2) If the director finds that the application conforms to this chapter, the director, when all fees and charges have been paid, shall issue and return to the sender a certificate of authority to conduct banking business in this state with the copy of the filed application. [1989 c.324 §60; 1997 c.631 §296; 2011 c.263 §8]

Source: Section 713.150 — Submission of application; fee; issuance of certificate of authority , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 707.611 — OR Code / Title 53 / Chapter 707 / Section 707.611
707.611 Notice of meeting
Status: in_force

Written or printed notice stating the place, date and hour of the meeting and, in case of a special meeting, the purpose or purposes for which the meeting is called shall be delivered not less than 10 days nor more than 60 days before the date of the meeting, either personally or by mail, by or at the direction of the president, the cashier, the secretary or the officer or persons calling the meeting, to each shareholder of record entitled to vote at such meeting. If mailed, such notice shall be deemed to be delivered when deposited in the United States mail addressed to the shareholder at the shareholder’s address as it appears on the stock transfer books of the institution or Oregon stock savings bank, with postage prepaid. [1989 c.324 §43; 1997 c.631 §79]

Source: Section 707.611 — Notice of meeting , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 713.010 — OR Code / Title 53 / Chapter 713 / Section 713.010
713.010 Application of Bank Act to out-of-state banks and extranational institutions
Status: in_force

(1) Every activity that an out-of-state bank or extranational institution engages in while conducting a banking business in this state is subject to the applicable provisions of the Bank Act.

(2) Unless the laws of the out-of-state bank’s home state limit the powers and authorities of the out-of-state bank, an out-of-state bank that opens, occupies or maintains a branch in this state pursuant to and in accordance with the requirements of ORS 713.270 (Maintaining out-of-state bank branch in this state) and that has a certificate of authority from the Director of the Department of Consumer and Business Services to conduct banking business in this state under ORS 713.020 (Certificate of authority to conduct banking business) and 713.140 (Contents of application for certificate of authority) to 713.160 (Conduct of banking business under certificate of authority) has the same powers and authorities to engage in an activity in this state that an Oregon bank has under the laws of this state, except that an out-of-state bank may not transact trust business in this state unless the out-of-state bank complies with ORS chapter 709. [Amended by 1965 c.170 §2; 1967 c.333 §1; 1973 c.797 §307; 1975 c.725 §8; 1979 c.88 §13; 1997 c.631 §283; 2011 c.263 §2; 2015 c.244 §85]

Source: Section 713.010 — Application of Bank Act to out-of-state banks and extranational institutions; powers of out-of-state bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 711.195 — OR Code / Title 53 / Chapter 711 / Section 711.195
711.195 Merger, conversion or acquisition of Oregon bank involving trust company
Status: in_force

If a merger, conversion or acquisition of an Oregon bank involves a trust company, the Director of the Department of Consumer and Business Services shall not approve the merger, conversion, or acquisition until satisfied that adequate provision has been made for successor fiduciaries. [1997 c.631 §282]

Source: Section 711.195 — Merger, conversion or acquisition of Oregon bank involving trust company , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.115 — OR Code / Title 53 / Chapter 708a / Section 708a.115
708A.115 Investment in government obligations
Status: in_force

(1) Institutions may invest, without regard to any limitation based on stockholders’ equity, in:

(a) Obligations of the United States, including those of its agencies and instrumentalities;

(b) Obligations of public housing agencies issued pursuant to the United States Housing Act of 1937, as amended; and

(c) Obligations of the State of Oregon or any county, city, school district, port district or other public body with the power to levy taxes issued pursuant to the Constitution or statutes of the State of Oregon or the charter or ordinances of any county or city within the State of Oregon, if the issuing body has not been in default with respect to the payment of principal or interest on any of its obligations within five years preceding the date of the investment.

(2) Subject to a limitation of 20 percent of stockholders’ equity, institutions may invest in obligations of any other state of the United States or obligations of any out-of-state county, city, school district, port district or other public body in the United States payable from ad valorem taxes, if the obligations are rated in one of the four highest grades by a recognized investment service organization that has been engaged regularly and continuously for a period of not less than 10 years in rating state and municipal obligations.

(3) Obligations received in satisfaction of debts previously contracted in good faith are not subject to the limitations of this section, if the book value of such obligations in excess of the limitations of this section is reduced to the amount allowed under this section within six months after the date the obligations are acquired. [1997 c.631 §118; 1999 c.59 §215]

Source: Section 708A.115 — Investment in government obligations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.270 — OR Code / Title 53 / Chapter 709 / Section 709.270
709.270 Disclosure of communications and writings
Status: in_force

A trust company shall, except as otherwise provided in this section, keep inviolate all communications and writings made to or by the trustees touching the existence, condition, management and administration of any private trust confided to it. A creditor or stockholder is not entitled to disclosure or knowledge of the communication or writing. However, the officers, manager, trust officer, secretary or attorney of the trust company may know of the communication or writing. In any suit or proceeding touching the existence, condition, management or administration of the trust, the court in which the matter is pending may require disclosure of the communication or writing. [Amended by 1973 c.797 §202; 1997 c.631 §217]

Source: Section 709.270 — Disclosure of communications and writings , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 713.250 — OR Code / Title 53 / Chapter 713 / Section 713.250
713.250 Limits on banks and institutions without certificates of authority
Status: in_force

(1) An out-of-state bank or extranational institution that conducts banking business in this state without a certificate of authority may not maintain an action, suit or proceeding in a court of this state until the out-of-state bank or extranational institution obtains a certificate of authority.

(2) An out-of-state bank’s or extranational institution’s failure to obtain a certificate of authority to conduct banking business in this state does not impair the validity of a contract or an act of the out-of-state bank or extranational institution, and does not prevent the out-of-state bank or extranational institution from defending an action, suit or proceeding in a court of this state.

(3) An out-of-state bank or extranational institution that conducts banking business in this state without a certificate of authority is liable to this state for the years or partial years during which the out-of-state bank or extranational institution conducted banking business in this state without a certificate of authority. The amount of the liability is equal to all fees, assessments and other charges that the out-of-state bank or extranational institution would have paid under the Bank Act had the out-of-state bank or extranational institution duly applied for and received a certificate of authority to conduct banking business in this state and filed all reports required under the Bank Act, plus all penalties imposed under the Bank Act for failure to pay the fees and charges. The Attorney General may bring proceedings to recover amounts due this state under the provisions of this section. [1989 c.324 §70; 1997 c.631 §305; 2011 c.263 §17]

Source: Section 713.250 — Limits on banks and institutions without certificates of authority , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 706.815 — OR Code / Title 53 / Chapter 706 / Section 706.815
706.815 Single account for moneys relating to supervision of Oregon operating institutions
Status: in_force

Notwithstanding ORS 705.145 (Consumer and Business Services Fund) (2), moneys received or expended by the Director of the Department of Consumer and Business Services under this chapter relating to the supervision of Oregon operating institutions may be deposited in or withdrawn from a single account. The director need not establish a separate account in the Consumer and Business Services Fund relating to the supervision of banks and a separate account relating to the supervision of trust companies. [1993 c.264 §2; 1997 c.631 §24]

Source: Section 706.815 — Single account for moneys relating to supervision of Oregon operating institutions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 713.240 — OR Code / Title 53 / Chapter 713 / Section 713.240
713.240 Procedure for revocation of certificate of authority
Status: in_force

(1) If an out-of-state bank or extranational institution has given cause for revocation of a certificate of authority as provided in ORS 713.230 (Revocation of certificate of authority) and has failed to correct the neglect, omission, misrepresentation or delinquency, the Director of the Department of Consumer and Business Services may revoke the right of the out-of-state bank or extranational institution to conduct banking business in this state. The director shall mail a notice of the revocation to the mailing address shown for the out-of-state bank or extranational institution in the current records of the director and to the out-of-state bank or extranational institution at the registered office for the out-of-state bank or extranational institution in this state or the principal office in the out-of-state bank’s or extranational institution’s home state or country.

(2) After the director revokes the certificate of authority, all powers that this state conferred upon the out-of-state bank or extranational institution cease, and thereafter a person may not exercise or attempt to exercise power under the revoked certificate of authority in this state.

(3) If the director is satisfied that an out-of-state bank or extranational institution that has had a certificate of authority revoked under subsection (1) of this section has corrected the cause for revocation, the director shall restore the out-of-state bank’s or extranational institution’s former rights and privileges in the same manner as the director revoked the authority of the out-of-state bank or extranational institution.

(4) An out-of-state bank or extranational institution previously authorized to conduct banking business in this state that has had a certificate of authority revoked and that has corrected the cause for revocation under subsection (1) of this section may apply to reinstate the certificate of authority within two years after the date of revocation. The out-of-state bank or extranational institution shall pay all fees that accrued before the director revoked the certificate of authority and a reinstatement filing fee of $100. The payment must accompany the application for reinstatement. If the director is satisfied that the out-of-state bank or extranational institution has corrected the cause for revocation, the director shall file the application for reinstatement, which entitles the out-of-state bank or extranational institution to resume business in this state. The director may not file the application for reinstatement unless the name of the out-of-state bank or extranational institution conforms to ORS 713.130 (Name of out-of-state bank or extranational institution) and the application is filed within two years after the date of revocation.

(5) Reinstatement under this section relates back to and takes effect as of the effective date of the revocation of the certificate of authority, so that the existence of the out-of-state bank or extranational institution is deemed to have continued without interruption from that date. [1989 c.324 §69; 1997 c.631 §304; 2011 c.263 §16]

Source: Section 713.240 — Procedure for revocation of certificate of authority; restoration; reinstatement; fee , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 714.045 — OR Code / Title 53 / Chapter 714 / Section 714.045
714.045 Establishment of foreign branches
Status: in_force

(1) A banking institution may establish branches in foreign countries or dependencies or insular possessions of the United States in accordance with ORS 714.025 (Notice required to establish branches in Oregon or outside of Oregon) if it possesses stockholder’s equity of at least $1 million.

(2) A banking institution operating such branches shall furnish information concerning the condition of the branches to the Director of the Department of Consumer and Business Services upon demand.

(3) The director may order special examinations of such branches.

(4) The director may promulgate rules regarding such branches pursuant to ORS 183.310 (Definitions for chapter) , 183.315 (Application of provisions of chapter to certain agencies) , 183.330 (Description of organization) , 183.335 (Notice) , 183.341 (Model rules of procedure) and 183.410 (Agency determination of applicability of rule or statute to petitioner) . [1997 c.631 §315]

Source: Section 714.045 — Establishment of foreign branches; furnishing information; examination; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 708a.425 — OR Code / Title 53 / Chapter 708a / Section 708a.425
708A.425 Deposit made in name of minor
Status: in_force

Any deposit in an Oregon commercial bank made to an account in the name of a minor must be held for the exclusive right and benefit of the minor free from the control or lien of all other persons, except other parties to the account and creditors, and must be paid, in accordance with the terms of the account, together with any interest on the deposit, to or upon the order of the minor. [1997 c.631 §166; 2015 c.244 §48]

Source: Section 708A.425 — Deposit made in name of minor , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.645 — OR Code / Title 53 / Chapter 711 / Section 711.645
711.645 Notice of termination of suspension or restriction on payment of liabilities
Status: in_force

(1) At least 10 days before the date on which the suspension or restriction on the payment of liabilities is terminated, the Director of the Department of Consumer and Business Services shall cause a notice to be published in a newspaper circulated in the city, town or county in which the principal office of the Oregon stock bank is located. Only one publication of the notice is required.

(2) The notice shall specify:

(a) The date on which the suspension or restriction on the payment of liabilities will be removed;

(b) That the provisions of ORS 711.635 (Receiving new deposits) pertaining to the segregation of deposits will not be effective after that date; and

(c) That the segregated deposits after the removal of the restriction or suspension will be general deposits.

(3) On or before the date of the publication of the notice, the director shall mail, postage prepaid, to each depositor in the Oregon stock bank whose deposit has been segregated as provided by ORS 711.635 (Receiving new deposits) a copy of the notice addressed to the last-known address of each depositor as shown by the records of the Oregon stock bank.

(4) The director shall hand a copy of the notice to every depositor making a deposit in the Oregon stock bank after the date of the newspaper publication and up to the time the suspension or restriction on the payment of liabilities of the Oregon stock bank is removed. [1973 c.797 §298; 1997 c.631 §258]

Source: Section 711.645 — Notice of termination of suspension or restriction on payment of liabilities , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 706.015 — OR Code / Title 53 / Chapter 706 / Section 706.015
706.015 Bank Act references to federal statutes and regulations
Status: in_force

References in the Bank Act to federal statutes and regulations, except as otherwise provided in the Bank Act, are to the statutes or regulations as the statutes or regulations are in effect on January 1, 2015. The Director of the Department of Consumer and Business Services may by rule construe one or more of the references to federal statutes and regulations in the Bank Act as references to the statutes and regulations as the statutes or regulations are in effect on a later date. [1997 c.631 §28; 1999 c.107 §1a; 2001 c.377 §56; 2015 c.244 §7]

Source: Section 706.015 — Bank Act references to federal statutes and regulations; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 716.055 — OR Code / Title 53 / Chapter 716 / Section 716.055
716.055 Creation of guaranty and expense funds
Status: in_force

Before an Oregon nonstock bank may conduct its business, its incorporators shall create:

(1) A guaranty fund, as provided in ORS 716.060 (Maintenance of guaranty fund or liquidation account) , for the protection of its depositors against loss on its investments, and

(2) An expense fund, as provided in ORS 716.070 (Expense fund) , to pay the expense of organizing the Oregon nonstock bank and the operating expenses. [1973 c.797 §351; 1997 c.631 §335]

Source: Section 716.055 — Creation of guaranty and expense funds , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 711.085 — OR Code / Title 53 / Chapter 711 / Section 711.085
711.085 Approval of conversion of Oregon bank by board or shareholders
Status: in_force

If an Oregon bank converts pursuant to ORS 711.065 (Conversion of Oregon stock bank into insured stock institution) to 711.080 (Conversion of financial institution into Oregon nonstock bank) , the conversion must be approved by:

(1) A simple majority of the full board of directors of the converting Oregon bank, unless the articles or bylaws of the converting Oregon bank required a greater percentage; and

(2) If the converting bank is an Oregon stock bank, a vote of a simple majority of the outstanding stock of each class of voting shares at a meeting called to consider the conversion, unless the articles or bylaws of the converting Oregon bank required a greater percentage. [1997 c.631 §269; 2015 c.244 §81]

Source: Section 711.085 — Approval of conversion of Oregon bank by board or shareholders , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.360 — OR Code / Title 53 / Chapter 708a / Section 708a.360
708A.360 Obligations secured by deposits
Status: in_force

(1) In addition to obligations permitted under ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) , an Oregon commercial bank may make loans to and acquire other obligations of a person without regard to amount to the extent the obligations are fully secured by any kind of deposit held by the Oregon commercial bank, including but not limited to deposits held in an automatic savings to checking transfer account or a negotiable order of withdrawal account.

(2) In addition to obligations permitted under ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) , an Oregon commercial bank may make loans to and acquire other obligations of a person without regard to amount to the extent the obligations are fully secured at all times by any kind of deposit, including but not limited to deposits held in an automatic savings to checking transfer account or a negotiable order of withdrawal account that are fully insured, guaranteed or underwritten by the United States Government or any agency or instrumentality of the United States by virtue of any Act of Congress or amendments thereto. [1997 c.631 §157]

Source: Section 708A.360 — Obligations secured by deposits , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 706.610 — OR Code / Title 53 / Chapter 706 / Section 706.610
706.610 Examiners required to report insolvency of Oregon operating institution
Status: in_force

An examiner of the Department of Consumer and Business Services, having knowledge of the insolvency or unsafe condition of an Oregon operating institution shall report the fact in writing, over the examiner’s signature, to the Director of the Department of Consumer and Business Services. [Amended by 1973 c.797 §33; 1985 c.762 §32; 1997 c.631 §12]

Source: Section 706.610 — Examiners required to report insolvency of Oregon operating institution , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 707.730 — OR Code / Title 53 / Chapter 707 / Section 707.730
707.730 Official communications from Department of Consumer and Business Services
Status: in_force

Every official communication directed by the Director of the Department of Consumer and Business Services or any examiner to a banking institution or to any officer of a banking institution, relating to an investigation or examination conducted by the Department of Consumer and Business Services or containing suggestions or recommendations as to the conduct of the business of the banking institution, shall be submitted by the officer receiving it to the board of directors at the next meeting of the board and noted in the minutes of the meeting of the board in the manner prescribed by the director. [Amended by 1973 c.797 §95; 1985 c.762 §39; 1997 c.631 §103]

Source: Section 707.730 — Official communications from Department of Consumer and Business Services; submission to directors , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 711.575 — OR Code / Title 53 / Chapter 711 / Section 711.575
711.575 Dividends to depositors
Status: in_force

At any time after the expiration of the date fixed for the presentation of claims under ORS 711.530 (Notice to creditors to present claims) the Director of the Department of Consumer and Business Services may, out of the funds remaining in the hands of the director after the payment of expenses, declare one or more dividends. After the expiration of one year from the first publication of notice to creditors the director may declare a final dividend. The dividends shall be paid to the persons, in the amounts and upon the notice as may be directed by the supervising court. [Amended by 1973 c.797 §283]

Source: Section 711.575 — Dividends to depositors , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.505 — OR Code / Title 53 / Chapter 711 / Section 711.505
711.505 Liability of fiduciary as stockholder
Status: in_force

A person holding stock of an institution as a fiduciary, as collateral security or in pledge, is not personally subject to any liability as a stockholder. The person pledging the stock is liable as a stockholder. The estate and funds in the hands of the fiduciary are liable to the same extent as the testator, intestate, protected person or person interested in the trust fund would be liable if able to act and hold the stock in the name of that person. [Amended by 1973 c.797 §267; 1973 c.823 §146; 1974 c.36 §27]

Source: Section 711.505 — Liability of fiduciary as stockholder; liability of estate and funds , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 707.256 — OR Code / Title 53 / Chapter 707 / Section 707.256
707.256 Restated articles of incorporation
Status: in_force

(1) An institution or Oregon stock savings bank may adopt restated articles of incorporation that become effective after approval and filing by the Director of the Department of Consumer and Business Services. The restated articles of incorporation may make any changes in the articles of incorporation that the institution or Oregon stock savings bank could make by regularly adopting an amendment. Adopting restated articles of incorporation amends the existing articles of incorporation to conform to the restated articles of incorporation, without further action of the board of directors or shareholders. Restated articles of incorporation must state that the restated articles of incorporation supersede the previously existing articles of incorporation and amendments to the previously existing articles of incorporation. Restated articles of incorporation must have all the statements that, under ORS 707.110 (Execution and submission of articles of incorporation) , must be in the original articles of incorporation, except a statement that lists the initial principal place of business, the number or names of directors that constitute the initial board of directors or the names of the incorporators.

(2) Except as provided in subsection (3) of this section, restated articles of incorporation that the director has approved and filed supersede the previously existing articles of incorporation and amendments to the previously existing articles of incorporation. The director shall, upon request, certify a copy of the articles of incorporation, the articles of incorporation as restated or any amendments to either the articles of incorporation or the restated articles of incorporation.

(3) If the restated articles of incorporation specify a delayed effective date, the restated articles of incorporation are effective on the date specified. A delayed effective date for restated articles of incorporation may not be later than the 90th day after the date on which the institution or Oregon stock savings bank executes and submits the restated articles of incorporation for filing.

(4) An institution or Oregon stock savings bank that submits restated articles of incorporation for filing shall include a statement that the president or a vice president and a cashier, secretary or assistant secretary execute in duplicate and that sets forth:

(a) The name of the institution or Oregon stock savings bank;

(b) The date on which the shareholders adopted the restated articles of incorporation;

(c) The number of shares outstanding and the number of shares entitled to vote for or against the restated articles of incorporation, and, if the shares of any class are entitled to vote as a class, the designation and number of outstanding shares of each class that are entitled to vote for or against the restated articles of incorporation.

(d) The number of shares voted for and against the restated articles of incorporation, respectively, and, if the shares of any class are entitled to vote as a class, the number of shares of each such class voted for and against the restated articles of incorporation, respectively.

(e) The manner in which the institution or Oregon stock savings bank will exchange, reclassify or cancel issued shares, if the restated articles of incorporation provide for an exchange, reclassification or cancellation of issued shares but do not set forth the manner for exchanging, reclassifying or canceling the issued shares. [1989 c.324 §16; 1997 c.631 §65; 2015 c.244 §24]

Source: Section 707.256 — Restated articles of incorporation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 717.215 — OR Code / Title 53 / Chapter 717 / Section 717.215
717.215 Requirements for licensees
Status: in_force

(1) Each licensee shall at all times have a net worth of not less than $100,000, calculated in accordance with generally accepted accounting principles. Licensees engaging in money transmission at more than one location or through authorized delegates shall have an additional net worth of $25,000 per location in this state, not to exceed a maximum of $500,000.

(2) Every applicant, at the time of filing of an application for a license under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) and at all times after a license is issued, shall be in good standing in the state of its incorporation or organization.

(3) Each licensee shall at all times possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee in the United States. This requirement may be waived by the Director of the Department of Consumer and Business Services if the dollar volume of a licensee’s outstanding payment instruments does not exceed the amount of any security device posted by the licensee under ORS 717.225 (Security devices) .

(4) In the event of the bankruptcy of the licensee, permissible investments, even if commingled with other assets of the licensee, are considered by operation of law to be held in trust for the benefit of the purchasers and holders of the licensee’s outstanding payment instruments. [1999 c.571 §5]

Source: Section 717.215 — Requirements for licensees; net worth; permissible investments , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 708a.160 — OR Code / Title 53 / Chapter 708a / Section 708a.160
708A.160 Corporation or limited liability company created to establish ATMs
Status: in_force

A banking institution may, subject to the approval of the Director of the Department of Consumer and Business Services, acquire and continue to hold a membership in or the fully paid stock of a limited liability company or corporation that is created to establish and operate ATM facilities. [1997 c.631 §127; 2015 c.244 §38]

Source: Section 708A.160 — Corporation or limited liability company created to establish ATMs; banking institution as stockholder , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 716.530 — OR Code / Title 53 / Chapter 716 / Section 716.530
716.530 Investments in corporate bonds, notes and debentures
Status: in_force

A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in the bonds, notes and debentures of any corporation incorporated under the laws of and operating in any state of the United States, which are rated at the time of purchase under authority of this section in one of the four highest grades by a recognized service organization that has been regularly engaged for a period of 10 years or more in rating or grading bonds. However, not more than one percent of the assets of the savings bank shall be invested in bonds, notes and debentures of any one corporation, and not more than 20 percent of the assets shall be invested under this section. [Amended by 1969 c.211 §4; 1971 c.219 §5; 1973 c.797 §377; 1977 c.135 §34; 1981 c.192 §29]

Source: Section 716.530 — Investments in corporate bonds, notes and debentures , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.490 — OR Code / Title 53 / Chapter 708a / Section 708a.490
708A.490 Joint account
Status: in_force

An insured institution may pay any sums in a joint account, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the party demands payment. An insured institution may not pay the personal representative or heirs of a deceased party unless proofs of death are presented to the insured institution showing that the decedent was the last surviving party or unless no right of survivorship exists under ORS 708A.470 (Multiple-party accounts) . [1997 c.631 §179; 2015 c.244 §60]

Source: Section 708A.490 — Joint account; payment to any party to account; payment to others , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 706.530 — OR Code / Title 53 / Chapter 706 / Section 706.530
706.530 Annual fees paid by banking institutions and non-Oregon institutions
Status: in_force

(1) Each banking institution and each non-Oregon institution shall pay each year to the Director of the Department of Consumer and Business Services the fee set in a schedule the director adopts by rule. The fee shall be paid by the date set by the director in the rule establishing the schedule.

(2) The director shall set or change the fee schedule described in subsection (1) of this section after considering:

(a) The amount of other moneys available for the director to use in performing the director’s duties;

(b) The costs the director will incur in performing the director’s duties in the year in which the director will collect the fee; and

(c) The amount the director needs to establish and maintain a reasonable emergency fund. [Amended by 1969 c.94 §1; 1971 c.68 §1; 1973 c.797 §24; 1977 c.135 §8; 1985 c.762 §27a; 1985 c.786 §9; 1987 c.171 §3; 1987 c.373 §48; 1993 c.229 §3; 1993 c.264 §4; 1997 c.631 §5; 2009 c.541 §30]

Source: Section 706.530 — Annual fees paid by banking institutions and non-Oregon institutions; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 707.705 — OR Code / Title 53 / Chapter 707 / Section 707.705
707.705 Investigation of new director, president and chief executive officer
Status: in_force

(1) Before a person first takes office as director, president or chief executive officer of a banking institution, the name of the person shall be submitted to the Director of the Department of Consumer and Business Services, with any information about the person that the director may require.

(2) The director shall investigate each person whose name is submitted under this section to determine the character, honesty, financial responsibility and competence of the person. In the course of investigating any person under this section, the director may require the person to provide additional information for the director’s further inquiry. For the purpose of such further inquiry, the director may require the person to submit to fingerprinting. Fingerprints acquired under this subsection may be submitted to appropriate law enforcement agencies, including the Federal Bureau of Investigation, for the purpose of discovering any unlawful activities of the person.

(3) The director may disapprove the election or appointment of the person for any reason stated in ORS 707.145 (Grounds for refusing authority to organize) . The director shall issue the disapproval in writing to the board of directors that submitted the person’s name. A copy of the disapproval shall be served personally or by certified mail upon the disapproved person. The disapproval may be issued without a prior administrative hearing.

(4) A person whom the director disapproves under this section may appeal the disapproval as a contested case pursuant to ORS 183.415 (Notice of right to hearing) to 183.500 (Appeals) . [1985 c.786 §31; 1997 c.631 §100]

Source: Section 707.705 — Investigation of new director, president and chief executive officer; fingerprinting; disapproval of election or appointment , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 707.415 — OR Code / Title 53 / Chapter 707 / Section 707.415
707.415 Report of dividends declared
Status: in_force

Within 10 days after declaring a dividend, an institution or Oregon stock savings bank shall forward to the Director of the Department of Consumer and Business Services a report of the dividend declared. [1997 c.631 §77; 2015 c.244 §26]

STOCKHOLDERS, DIRECTORS AND OFFICERS

Source: Section 707.415 — Report of dividends declared , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 714.054 — OR Code / Title 53 / Chapter 714 / Section 714.054
714.054 Limiting or restricting banking institution’s ability to establish branch
Status: in_force

With respect to notices to establish branches in this state or another state, the Director of the Department of Consumer and Business Services may limit or restrict a banking institution’s ability to establish a branch, except that the director’s failure to limit or restrict the banking institution’s ability to establish the branch within 30 days after receiving a complete notice is a decision not to limit or restrict the banking institution’s ability to establish the branch. With respect to notices by banking institutions to establish branches in foreign countries or dependencies or insular possessions of the United States, the director may limit or restrict a banking institution’s ability to establish a branch, except that the director’s failure to limit or restrict the banking institution’s ability to establish the branch within 90 days after receiving a complete notice is a decision not to limit or restrict the banking institution’s ability to establish a branch. [1997 c.631 §317; 2015 c.244 §88d]

Source: Section 714.054 — Limiting or restricting banking institution’s ability to establish branch , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 708a.365 — OR Code / Title 53 / Chapter 708a / Section 708a.365
708A.365 Obligations secured by life insurance policy values
Status: in_force

In addition to obligations permitted under ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) , an Oregon commercial bank may make loans to and acquire obligations of a person not to exceed 10 percent of the Oregon commercial bank’s capital that are secured by a life insurance policy having a cash surrender value of not less than 100 percent of the amount of the obligations, plus an amount equal to one annual premium on the insurance policy. [1997 c.631 §158]

Source: Section 708A.365 — Obligations secured by life insurance policy values , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 713.035 — OR Code / Title 53 / Chapter 713 / Section 713.035
713.035 Failure to maintain required assets
Status: in_force

If at the close of any banking day an extranational institution does not have on deposit the assets required to be maintained under ORS 713.025 (Assets requirement for extranational institutions) , the managing officer in charge of the office of the extranational institution shall immediately notify the Director of the Department of Consumer and Business Services and the main office of the extranational institution of the deficit. The extranational institution shall have three banking days to eliminate the deficiency. If the deficiency is not eliminated within the three-day period, the extranational institution is prohibited from conducting banking business, making loans, issuing letters of credit or accepting drafts or bills of exchange and the director may revoke its certificate of authority. [1975 c.725 §4; 1997 c.631 §291]

Source: Section 713.035 — Failure to maintain required assets; notice to director; effect of deficiency , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 714.095 — OR Code / Title 53 / Chapter 714 / Section 714.095
714.095 Establishment of branches by out-of-state banks in this state
Status: in_force

(1) An out-of-state bank may occupy and maintain the out-of-state bank’s initial branches in this state if and only if the out-of-state bank acquires the branches in accordance with ORS chapters 711 and 713.

(2) An out-of-state bank that is properly occupying and maintaining one or more branches in this state in accordance with ORS chapters 711 and 713 may thereafter open, occupy and maintain one or more additional branches in this state.

(3) An out-of-state bank that acquires branches in accordance with ORS chapters 711 and 713 is entitled to exercise powers and engage in activities at the out-of-state bank’s branches in this state as provided in ORS 713.010 (Application of Bank Act to out-of-state banks and extranational institutions) and applicable federal law. [1997 c.631 §324; 2015 c.244 §88g]

Source: Section 714.095 — Establishment of branches by out-of-state banks in this state; powers and activities at branches , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 707.145 — OR Code / Title 53 / Chapter 707 / Section 707.145
707.145 Grounds for refusing authority to organize
Status: in_force

The Director of the Department of Consumer and Business Services may disapprove an application for a permit to organize or refuse to approve the articles of incorporation or to grant a charter upon a finding that any person named in the application to organize or in other documents submitted for filing:

(1) Is insolvent, either in the sense that the person’s liabilities exceed the person’s assets or that the person cannot meet the person’s obligations as they mature, or is in such financial condition that the person cannot continue in business with safety to the person’s customers;

(2) Has engaged in dishonest, fraudulent or illegal practices or conduct in any business or profession;

(3) Has willfully or repeatedly violated or failed to comply with any provisions of the Bank Act or any rule or order of the director;

(4) Has been convicted of a crime, an essential element of which is fraud;

(5) Is not qualified to conduct a banking business on the basis of such factors as training, experience and knowledge of the business;

(6) Is permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the banking business or other business that may lawfully be conducted by an insured institution;

(7) Is the subject of an order of the director subjecting the person to a civil penalty, or removing the person from an office in any entity regulated by the director; or

(8) Is the subject of an order entered within the past five years, directing the person to cease and desist from any fraudulent or unlawful business or banking practice, subjecting the person to a civil penalty, or removing the person from an office in a financial institution or a consumer finance company issued by the banking supervisor of another state or by the Comptroller of the Currency, the Board of Governors of the Federal Reserve System or by any other agency of the federal government or another state with regulatory authority over such financial institutions or consumer finance companies. [1977 c.135 §19; 1985 c.762 §§37,37a; 1985 c.786 §25; 1987 c.373 §52; 1997 c.631 §48; 2011 c.597 §288]

Source: Section 707.145 — Grounds for refusing authority to organize , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.850 — OR Code / Title 53 / Chapter 716 / Section 716.850
716.850 False advertising of surplus or guaranty fund prohibited
Status: in_force

An Oregon nonstock bank shall not use any sign or notice or publish or circulate any advertisement in which the surplus or guaranty fund is stated in excess of its value, as determined under this chapter, unless the nature of the excess clearly appears. [Amended by 1973 c.797 §392; 1997 c.631 §358]

DISSOLUTION; LIQUIDATION

Source: Section 716.850 — False advertising of surplus or guaranty fund prohibited , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 713.990 — OR Code / Title 53 / Chapter 713 / Section 713.990
713.990 Civil penalties
Status: in_force

The Director of the Department of Consumer and Business Services may impose on any person that violates any provision of this chapter a civil penalty of up to $1,000 for each day during which the offense continues. The penalty shall be assessed and collected in the manner prescribed in ORS 706.570 (Requirement that banking institution keep books and accounts) (3). [1997 c.631 §308; 2015 c.244 §88]

Source: Section 713.990 — Civil penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 708a.440 — OR Code / Title 53 / Chapter 708a / Section 708a.440
708A.440 Checks drawn by agents presumed to be in authorized manner
Status: in_force

If a person who owns a deposit account subject to check authorizes another person as agent to draw checks against the account, the insured institution, in the absence of written notice to the contrary, may presume that any check the agent draws in the manner that the terms and conditions of the account authorize, including a check the agent draws to the agent’s personal order, is for a purpose that the principal authorizes and is within the scope of the authority conferred upon the agent. [1997 c.631 §169; 2015 c.244 §51]

Source: Section 708A.440 — Checks drawn by agents presumed to be in authorized manner , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.080 — OR Code / Title 53 / Chapter 709 / Section 709.080
709.080 Charges for handling securities
Status: in_force

(1) The Director of the Department of Consumer and Business Services may charge a reasonable amount for any expenses incurred and services rendered in connection with deposits of securities.

(2) If a trust company does not, after due notice, pay to the director any charge assessed against it under this section, the director may:

(a) Apply in payment of the charges, with interest at the legal rate, as much as necessary of the interest or other earnings accruing on any securities deposited with the director; or

(b) Report the facts to the Attorney General, who shall, in the name of the director, institute appropriate action against the trust company. [Amended by 1973 c.797 §188; 1997 c.631 §208]

Source: Section 709.080 — Charges for handling securities; collection procedure , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 716.540 — OR Code / Title 53 / Chapter 716 / Section 716.540
716.540 Investments in obligations of reconstruction and development banks
Status: in_force

A savings bank may invest not more than five percent of its assets in each of the following categories of investments:

(1) In obligations issued or guaranteed by the International Bank for Reconstruction and Development.

(2) In obligations issued or guaranteed by the Inter-American Development Bank.

(3) In obligations issued or guaranteed by the Asian Development Bank.

(4) In obligations issued or guaranteed by the African Development Bank. [1959 c.185 §2; 1973 c.797 §378; 1985 c.456 §1]

Source: Section 716.540 — Investments in obligations of reconstruction and development banks , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 713.200 — OR Code / Title 53 / Chapter 713 / Section 713.200
713.200 Delivery of documents filed with Secretary of State
Status: in_force

(1) An out-of-state bank or extranational institution that has a certificate of authority to conduct banking business in this state shall deliver copies of documents that the out-of-state bank or extranational institution filed with the Secretary of State pursuant to ORS chapters 60, 63, 70 and 648 and ORS 128.560 (“Business trust” described) to 128.600 (Filing, service, copying and certification fees) to the Director of the Department of Consumer and Business Services promptly after filing the documents with the Secretary of State.

(2) If an out-of-state bank or an extranational institution that has a certificate of authority to conduct banking business in this state changes the out-of-state bank’s or extranational institution’s name or duration, the out-of-state bank or extranational institution shall apply to the director to amend the certificate of authority.

(3) The requirements for signing and submitting the application described in subsection (2) of this section to the director and that prescribe the form and contents of the application are the same as in the case of an original application for a certificate of authority under ORS 713.140 (Contents of application for certificate of authority) . Filing the application for the amended certificate of authority by the director has the same legal effect as filing the original certificate of authority. [1989 c.324 §65; 1997 c.631 §300; 2011 c.263 §12]

Source: Section 713.200 — Delivery of documents filed with Secretary of State; change of name or duration , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 711.650 — OR Code / Title 53 / Chapter 711 / Section 711.650
711.650 Segregation of deposits until termination notice has been given
Status: in_force

If the Director of the Department of Consumer and Business Services removes the restrictions or suspensions on the payment of liabilities of any Oregon stock bank and surrenders possession of the assets and properties of the Oregon stock bank to the proper officers of the Oregon stock bank, before the 10 days’ notice provided for by ORS 711.645 (Notice of termination of suspension or restriction on payment of liabilities) has been given, the Oregon stock bank shall keep deposits segregated under ORS 711.635 (Receiving new deposits) separate and apart from its other assets until the notice has been given by the Oregon stock bank in the manner provided in ORS 711.645 (Notice of termination of suspension or restriction on payment of liabilities) . After the notice has been given, the segregated deposits shall become general deposits and may be mingled with the other assets of the Oregon stock bank and the provisions of ORS 711.635 (Receiving new deposits) with respect to segregation of deposits shall no longer apply. [1973 c.797 §299; 1997 c.631 §259]

Source: Section 711.650 — Segregation of deposits until termination notice has been given , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.199 — OR Code / Title 53 / Chapter 711 / Section 711.199
711.199 Valuation of assets on books of resulting Oregon bank
Status: in_force

Without approval by the Director of the Department of Consumer and Business Services, an asset shall not be carried on the books of a resulting or converting financial institution that is an Oregon bank at a valuation higher than that on the books of the resulting or converting financial institution at the time of its last examination prior to the effective date of the merger or conversion. [Formerly 711.060]

VOLUNTARY LIQUIDATION; DISSOLUTION

Source: Section 711.199 — Valuation of assets on books of resulting Oregon bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.185 — OR Code / Title 53 / Chapter 708a / Section 708a.185
708A.185 Purchase of real estate contracts
Status: in_force

Institutions may purchase the vendor’s interest in bona fide contracts covering the sale of real estate that comply with the requirements of ORS 708A.270 (Real estate loans) . [1997 c.631 §133]

Source: Section 708A.185 — Purchase of real estate contracts , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.440 — OR Code / Title 53 / Chapter 709 / Section 709.440
709.440 Director’s charges as prior lien on deposit
Status: in_force

All unpaid charges owing to the Director of the Department of Consumer and Business Services for expenses and services rendered under ORS 709.080 (Charges for handling securities) in connection with the deposit mentioned in ORS 709.030 (Approval to transact trust business) , and all expenses incurred by the director, including services rendered by the director, attorney fees and necessary court expenses in connection with the determination of claims against the deposit, are a first and prior lien on the deposit, and shall be paid before any part of the deposit is released or paid to any claimant or trust company. [Amended by 1973 c.797 §214; 1997 c.631 §226]

Source: Section 709.440 — Director’s charges as prior lien on deposit , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 707.270 — OR Code / Title 53 / Chapter 707 / Section 707.270
707.270 Effect of redemption of shares
Status: in_force

(1) When shares of an institution or Oregon stock savings bank are redeemed, the shares shall be restored to the status of authorized but unissued shares, unless the articles of incorporation provide that shares when redeemed shall not be reissued, in which case a statement of cancellation shall be submitted for filing as provided in this section, shall constitute an amendment to the articles of incorporation and shall reduce the number of shares of the class so canceled, which the institution or Oregon stock savings bank is authorized to issue by the number of shares so canceled.

(2) The statement of cancellation shall be executed in duplicate by the institution or Oregon stock savings bank by an authorized officer and shall set forth:

(a) The name of the institution or Oregon stock savings bank.

(b) The number of shares canceled through redemption, itemized by classes and series.

(c) The number of shares that the institution or Oregon stock savings bank has authority to issue, itemized by classes and series, after giving effect to such cancellation.

(3) Duplicate originals of such statement shall be submitted to the Director of the Department of Consumer and Business Services for filing. If the director finds that such statement conforms to law, the director shall, when all fees and charges have been paid as prescribed by this chapter:

(a) Indorse on each duplicate original the word “Filed” and the month, day and year of the filing thereof.

(b) File one duplicate original in the office of the director.

(c) Return the other duplicate original to the institution or Oregon stock savings bank or its representative.

(4) Nothing contained in this section shall be construed to forbid a cancellation of shares or a reduction in the number of authorized shares of any class in any other manner permitted by the Bank Act. [1989 c.324 §34; 1997 c.631 §71]

Source: Section 707.270 — Effect of redemption of shares; statement of cancellation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.100 — OR Code / Title 53 / Chapter 716 / Section 716.100
716.100 Effect of failure to complete organization
Status: in_force

(1) If an Oregon savings bank fails to complete its organization and receive from the Director of the Department of Consumer and Business Services a charter within one year after the date of filing its articles of incorporation, the Oregon savings bank shall cease to exist and the articles of incorporation are void.

(2) All persons purporting to act as or on behalf of an Oregon savings bank, knowing there was no incorporation, are jointly and severally liable for all liabilities created while so acting. [Amended by 1973 c.797 §356; 1997 c.631 §339]

Source: Section 716.100 — Effect of failure to complete organization; liabilities , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 709.160 — OR Code / Title 53 / Chapter 709 / Section 709.160
709.160 Solicitation and performance of legal business
Status: in_force

(1) A trust company shall not advertise to furnish or furnish to the public legal advice or hold itself out as practicing law.

(2) A trust company that violates subsection (1) of this section is ineligible for one year thereafter to be judicially appointed as a fiduciary in this state. [Amended by 1973 c.797 §195; 1975 c.544 §28; 1997 c.631 §211]

Source: Section 709.160 — Solicitation and performance of legal business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 717.260 — OR Code / Title 53 / Chapter 717 / Section 717.260
717.260 Retention of records
Status: in_force

(1) Each licensee shall make, keep and preserve the following books, accounts and other records for a period of three years:

(a) A record of each payment instrument sold;

(b) A general ledger, posted at least once per month, containing all assets, liabilities, capital, income and expense accounts;

(c) Settlement sheets received from authorized delegates;

(d) Bank statements and bank reconciliation records;

(e) Records of outstanding payment instruments;

(f) Records of each payment instrument paid within the three-year period; and

(g) A list of the names and addresses of all the licensee’s authorized delegates.

(2) Books, accounts and other records required to be maintained under subsection (1) of this section may be maintained:

(a) In a photographic, electronic or other similar form.

(b) At a location outside this state, so long as the books, accounts and other records are made accessible to the Director of the Department of Consumer and Business Services following seven days’ written notice. [1999 c.571 §14]

Source: Section 717.260 — Retention of records , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 708a.630 — OR Code / Title 53 / Chapter 708a / Section 708a.630
708A.630 Negligent, excessive, dishonest or unlawful loans
Status: in_force

Any officer, director or employee of an institution who knowingly or negligently loans the funds of the institution in a dishonest or unlawful manner or permits the funds of the institution to be so loaned, is liable for the full amount of the loan and for all damages that the institution, its stockholders or any other person has sustained in consequence thereof. The liability for the loan continues until the loan, with interest, is paid in full without loss to the institution. The amount of the liability may be collected by suit or action without first attempting to collect from the debtor. [1997 c.631 §197a]

Source: Section 708A.630 — Negligent, excessive, dishonest or unlawful loans; civil liability of officer, director or employee , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.005 — OR Code / Title 53 / Chapter 707 / Section 707.005
707.005 Organization required to engage in banking or trust business
Status: in_force

It is unlawful for any person to engage in or transact a banking or trust business within this state except by means of an entity duly organized for the purpose. [1973 c.797 §50; 1997 c.631 §29]

Source: Section 707.005 — Organization required to engage in banking or trust business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.120 — OR Code / Title 53 / Chapter 716 / Section 716.120
716.120 Conditions precedent to transaction of business
Status: in_force

An Oregon savings bank shall not transact any business, except as incidental or necessary to its organization, until:

(1) It has received its charter from the Director of the Department of Consumer and Business Services; and

(2) The director is satisfied that either:

(a) In the case of an Oregon stock savings bank, the incorporators have obtained paid subscriptions in at least the amount of the initial approved paid-in capital; or

(b) In the case of an Oregon nonstock bank, the incorporators have made the deposit of the:

(A) Initial guaranty fund required by ORS 716.060 (Maintenance of guaranty fund or liquidation account) .

(B) Expense fund required by ORS 716.070 (Expense fund) , and, if the director so requires, have entered into the agreement or undertaking with the director and filed the agreement and the security therefor as prescribed in ORS 716.070 (Expense fund) . [Amended by 1973 c.797 §358; 1997 c.631 §340]

Source: Section 716.120 — Conditions precedent to transaction of business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 713.130 — OR Code / Title 53 / Chapter 713 / Section 713.130
713.130 Name of out-of-state bank or extranational institution
Status: reserved

(1) Except as provided in subsection (2) of this section, the Director of the Department of Consumer and Business Services may not issue a certificate of authority to an out-of-state bank or extranational institution if the name of the out-of-state bank or extranational institution is not distinguishable from:

(a) The name of any banking institution, insured institution, extranational institution that has complied with the provisions of ORS 713.020 (Certificate of authority to conduct banking business) or 713.300 (Out-of-state bank, extranational institution or foreign association) or credit union, as defined in ORS 723.008 (“Credit union” defined for ORS 723.136 and 723.464 to 723.498) ; or

(b) Intentionally left blank —Ed.

(A) The name of any corporation, professional corporation, nonprofit corporation, cooperative, limited liability company, limited partnership or business trust currently on file with the Secretary of State; or

(B) Any reserved, registered or assumed business name currently on file with the Secretary of State.

(2) The director may refuse to permit an out-of-state bank or extranational institution to use a name if the director determines that the name is not distinguishable from the name of a financial institution that is already lawfully transacting business or making loans in this state.

(3) Intentionally left blank —Ed.

(a) Except as provided in paragraph (b) of this subsection, this section does not preclude an out-of-state bank or extranational institution from transacting business under one or more assumed business names if the names conform to the provisions of ORS 707.075 (Banking institution name) .

(b) An out-of-state bank or extranational institution may not transact business under a name that the director determines is not distinguishable from:

(A) The name of any banking institution, insured institution, extranational institution that has complied with the provisions of ORS 713.020 (Certificate of authority to conduct banking business) or 713.300 (Out-of-state bank, extranational institution or foreign association) or credit union, as defined in ORS 723.008 (“Credit union” defined for ORS 723.136 and 723.464 to 723.498) ; or

(B) The name of a corporation, professional corporation, nonprofit corporation, cooperative, limited liability company, limited partnership or business trust or any reserved, registered or assumed business name on file with the Secretary of State.

(c) The name designated under this section has the same legal effect under ORS 707.075 (Banking institution name) and ORS chapters 647 and 648 as the name of an Oregon bank.

(d) Issuing the certificate of authority does not abrogate or limit the law as to unfair competition or unfair trade practices or derogate from the common law, the principles of equity or the statutes of this state or of the United States with respect to the right to acquire and protect trade names, trademarks and service marks. [1989 c.324 §58; 1997 c.631 §294; 2011 c.263 §6; 2015 c.244 §86]

Source: Section 713.130 — Name of out-of-state bank or extranational institution , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 706.700 — OR Code / Title 53 / Chapter 706 / Section 706.700
706.700 Resignation or retirement of director, president or chief executive officer
Status: in_force

A director, president or chief executive officer of a banking institution who retires or resigns from the position of director, president or chief executive officer shall give 30 days prior written notice to the Director of the Department of Consumer and Business Services. [Amended by 1963 c.195 §1; 1973 c.797 §41; 1987 c.158 §150; 1995 c.316 §1]

Source: Section 706.700 — Resignation or retirement of director, president or chief executive officer; notice to director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 709.005 — OR Code / Title 53 / Chapter 709 / Section 709.005
709.005 Certificate of authority to transact trust business
Status: in_force

(1) Except as provided in ORS 709.030 (Approval to transact trust business) (4) or in subsection (4) of this section, no company shall transact any trust business in this state until the company has obtained a certificate of authority from the Director of the Department of Consumer and Business Services under this section, authorizing the company to transact trust business in this state.

(2) To procure a certificate of authority to transact trust business in this state, a company to whom this section applies shall file a written application with the director, which shall contain or be accompanied by:

(a) The name of the company.

(b) The state or country under the laws of which the company is organized.

(c) The date of incorporation or other organization of the company.

(d) The period of duration of the company, if the duration is not perpetual.

(e) A mailing address to which the director may send notices.

(f) The address of the principal office of the company in the state or country under the laws of which it is organized.

(g) The street address of the proposed registered office of the company in this state and the name of its proposed registered agent, who shall be amenable to service of process at that address.

(h) A brief statement setting forth any background and experience of the company in conducting a trust business in the state or country in which it is organized, and its qualifications to transact trust business in this state.

(i) The names and addresses of the chief executive officer and the secretary of the company.

(j) Any additional information that the director may by rule require.

(k) The verified signature of the chief executive officer of the company, certifying that all information contained in the application is true, accurate and complete.

(L) A certificate of existence, a certificate of good standing, a status certificate or a document of similar import, current within 60 days of making application under this section and duly authenticated by the official with custody of the corporate or other records in the state, province or country under the laws of which the company is organized.

(m) A certificate of authorization for a foreign corporation, or a copy of the application for authority to transact business in this state as a foreign corporation as filed with the Secretary of State, current within 60 days of making application under this section and duly authenticated by the Secretary of State evidencing the authorization of the company, or application for authorization, to transact business as a foreign corporation under ORS chapter 60.

(n) An application fee of $2,500, provided that no application fee shall be charged under this paragraph:

(A) If the applicant is concurrently applying for a charter under ORS chapter 707; or

(B) If the director reduces or waives the application fee.

(3) If the director finds that the application conforms to the requirements of subsection (2) of this section and that the applicant is qualified by experience to transact trust business in this state, the director shall direct the applicant to make the security deposit required under ORS 709.030 (Approval to transact trust business) , and when the deposit is made, the director shall issue and send to the company a certificate of authority to transact business.

(4) The requirement to procure a certificate of authority under this section shall not apply to the extent preempted by federal law, or to any bank lawfully transacting trust business in this state on October 4, 1997. [1997 c.631 §229; 1999 c.107 §3]

Source: Section 709.005 — Certificate of authority to transact trust business; application; contents; fee; exceptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 708a.510 — OR Code / Title 53 / Chapter 708a / Section 708a.510
708A.510 Right of institution to setoff
Status: in_force

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 an insured institution, the insured institution has a right to setoff against the account in which the party has or had a present right of withdrawal immediately before the party’s death. The amount of the account that is subject to setoff is the 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 that have present rights of withdrawal. [1997 c.631 §183; 2015 c.244 §64]

Source: Section 708A.510 — Right of institution to setoff; amount , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.250 — OR Code / Title 53 / Chapter 707 / Section 707.250
707.250 Execution of amendments to articles of incorporation
Status: in_force

The articles of amendment shall be executed in duplicate by the institution or Oregon stock savings bank by its president or a vice president and by its cashier, its secretary or an assistant secretary and shall set forth:

(1) The name of the institution or Oregon stock savings bank.

(2) If the amendment alters or changes any provision of the original or amended articles of incorporation, an identification by reference or description of the affected provision and a statement of its text as it is amended to read. If the amendment strikes or deletes any provision of the original or amended articles of incorporation, an identification by reference or description of the provision so stricken or deleted and a statement that it is stricken or deleted. If the amendment is an addition to the original or amended articles of incorporation, a statement of that fact and the full text of each provision added.

(3) The date of the adoption of the amendment by the shareholders.

(4) The number of shares outstanding and the number of shares entitled to vote thereon, and if the shares of any class are entitled to vote thereon as a class, the designation and number of outstanding shares entitled to vote thereon of each such class.

(5) The number of shares voted for and against such amendment, respectively, and, if the shares of any class are entitled to vote thereon as a class, the number of shares of each such class voted for and against such amendment, respectively.

(6) If such amendment provides for an exchange, reclassification or cancellation of issued shares, and, if the manner in which the same shall be effected is not set forth in the amendment, a statement of the manner in which the same shall be effected.

(7) If such amendment was adopted by a majority of the directors pursuant to ORS 707.246 (Manner of amending articles of incorporation) (2)(a), then, in lieu of the information required by subsections (3), (4) and (5) of this section, a statement that no shares have yet been issued and that the amendment was authorized as provided in ORS 707.246 (Manner of amending articles of incorporation) (2)(a). The date of the adoption of the amendment by a majority of the directors shall be included. Articles of amendment under this subsection may be executed as provided in this section or by a majority of the directors. [1989 c.324 §13; 1997 c.631 §62]

Source: Section 707.250 — Execution of amendments to articles of incorporation , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.590 — OR Code / Title 53 / Chapter 708a / Section 708a.590
708A.590 Charging off real estate assets
Status: in_force

(1) An institution that owns or holds any real estate other than as permitted in the Bank Act shall immediately charge the book value of the real estate to profit and loss or otherwise remove the real estate from the institution’s books.

(2) An institution shall at all times value and record on the institution’s books and records, in accordance with generally accepted accounting principles, real estate that the institution owns or holds in accordance with ORS 708A.175 (Right to purchase, hold and dispose of real and personal property) (3) or (4). [1997 c.631 §193; 2011 c.478 §1]

Source: Section 708A.590 — Charging off real estate assets; use of generally accepted accounting principles , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 708a.400 — OR Code / Title 53 / Chapter 708a / Section 708a.400
708A.400 Deposit accounts
Status: in_force

Oregon commercial banks may, consistent with applicable law and safe and sound banking practices, offer deposit accounts upon such terms and conditions as they consider appropriate. [1997 c.631 §161]

Source: Section 708A.400 — Deposit accounts , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.130 — OR Code / Title 53 / Chapter 709 / Section 709.130
709.130 Indemnity bond when cash and securities of fiduciary account exceed stockholders’ equity or members’ equity in trust company
Status: in_force

If the cash and securities that belong to any single fiduciary account exceed the amount of a trust company’s stockholders’ equity or members’ equity, the court that appoints the trust company to the position of trust may require an indemnity bond from the trust company for the amount of cash and securities that exceeds the stockholders’ equity or members’ equity. [Amended by 1973 c.797 §191; 1999 c.59 §219; 2015 c.244 §75]

Source: Section 709.130 — Indemnity bond when cash and securities of fiduciary account exceed stockholders’ equity or members’ equity in trust company , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).