ORS § 707.756 — OR Code / Title 53 / Chapter 707 / Section 707.756
707.756 Determination and authorization of indemnification
Status: in_force

(1) A banking institution may not indemnify a director under ORS 707.746 (Authority to indemnify directors) unless authorized in the specific case after a determination has been made that indemnification of the director is permissible in the circumstances because the director has met the standard of conduct set forth in ORS 707.746 (Authority to indemnify directors) .

(2) A determination that indemnification of a director is permissible shall be made:

(a) By the board of directors by majority vote of a quorum consisting of directors not at the time parties to the proceeding;

(b) If a quorum cannot be obtained under paragraph (a) of this subsection, by a majority vote of a committee duly designated by the board of directors consisting solely of two or more directors not at the time parties to the proceeding. However, directors who are parties to the proceeding may participate in designation of the committee;

(c) By special legal counsel selected by the board of directors or its committee in the manner prescribed in paragraph (a) or (b) of this subsection, or if a quorum of the board of directors cannot be obtained under paragraph (a) of this subsection and a committee cannot be designated under paragraph (b) of this subsection, the special legal counsel shall be selected by majority vote of the full board of directors, including directors who are parties to the proceeding; or

(d) In the case of an institution or Oregon stock savings bank, by the shareholders.

(3) Authorization of indemnification and evaluation as to reasonableness of expenses shall be made in the same manner as the determination that indemnification is permissible, except that if the determination is made by special legal counsel, authorization of indemnification and evaluation as to reasonableness of expenses shall be made by those entitled under subsection (2)(c) of this section to select counsel. [1989 c.324 §22; 1997 c.631 §111]

Source: Section 707.756 — Determination and authorization of indemnification , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 717.295 — OR Code / Title 53 / Chapter 717 / Section 717.295
717.295 Injunctions
Status: in_force

(1) If the Director of the Department of Consumer and Business Services believes that any person has engaged in, is engaging in or is about to engage in any act or practice constituting a violation of any provision of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) , or of any rule or order adopted or issued under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) , the director may initiate an action in the Circuit Court for Marion County to enjoin the act or practice and to enforce compliance with any provision of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) or of any rule or order adopted or issued under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) . Upon a proper showing, a permanent or temporary injunction, restraining order or writ of mandamus shall be granted or a receiver or conservator may be appointed for the defendant’s assets. The director shall not be required to post a bond. The court may award a prevailing party reasonable attorney fees and costs.

(2) The director may enter into consent orders at any time with any person to resolve any matter arising under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) . A consent order must be signed by the person to whom it is issued or a duly authorized representative, and must indicate agreement to the terms contained in the consent order. A consent order need not constitute an admission by any person that any provision of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) , or of any rule or order adopted or issued under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) , has been violated, nor need it constitute a finding by the director that the person has violated any provision of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) , or of any rule or order adopted or issued under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) .

(3) Notwithstanding the issuance of a consent order, the director may seek civil or criminal penalties or compromise civil penalties concerning matters encompassed by the consent order, unless the consent order by its terms expressly precludes the director from so doing. [1999 c.571 §22]

Source: Section 717.295 — Injunctions; consent orders , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 716.594 — OR Code / Title 53 / Chapter 716 / Section 716.594
716.594 Authority of Oregon savings bank to acquire corporation licensed as insurance producer
Status: in_force

An Oregon savings bank may acquire and hold all or part of the stock of a corporation that is or may thereafter be licensed as an insurance producer as required by ORS 744.053 (Requirements to be licensed as insurance producer for class of insurance) to transact one or more of the classes of insurance described in ORS 744.062 (Issuance of insurance producer license) , subject to the following requirements:

(1) The acquisition and holding of such stock shall be subject to the approval of the Director of the Department of Consumer and Business Services. The director shall base consideration for approval on the condition of the Oregon savings bank, the adequacy of a formal business plan for the insurance activities and the existence of satisfactory management for the corporation.

(2) The director may revoke or restrict the ongoing authority of the Oregon savings bank to hold stock in the corporation if the condition of the Oregon savings bank substantially deteriorates or if the insurance activities are adversely affecting the Oregon savings bank.

(3) For each calendar year during which an Oregon savings bank owns all or part of any corporation licensed as an insurance producer as required by ORS 744.053 (Requirements to be licensed as insurance producer for class of insurance) , the Oregon savings bank shall file a written report with the director. The report shall be filed no later than March 31 of the following year and shall disclose the insurance activities of the corporation. The required contents of the report shall be established by the director by rule. The reports filed with the director under this subsection shall be available for public inspection in the office of the director.

(4) The corporation shall not in any manner use customer information obtained by the Oregon savings bank from another insurance producer to promote, develop or solicit insurance business for the corporation unless the other insurance producer consents to such use of the customer information.

(5) The corporation shall be subject to the limitations applicable to depository institutions under ORS 746.213 (Definitions for ORS 746.213 to 746.219) to 746.219 (Investigatory powers) . For the purpose of this subsection, “depository institution” has the meaning given that term in ORS 746.213 (Definitions for ORS 746.213 to 746.219) . [1987 c.916 §7; 1989 c.331 §31; 1989 c.701 §67; 1997 c.831 §§4,4a; 2001 c.191 §55; 2003 c.363 §10; 2003 c.364 §61a; 2005 c.194 §3]

POWERS, DUTIES AND REGULATION

Source: Section 716.594 — Authority of Oregon savings bank to acquire corporation licensed as insurance producer; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.120 — OR Code / Title 53 / Chapter 707 / Section 707.120
707.120 Issuance of certificate of incorporation when filings conform to law
Status: in_force

(1) If the Director of the Department of Consumer and Business Services finds that the articles of incorporation conform to law, the director shall within 60 days after receiving the articles of incorporation and when all fees have been paid:

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

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

(c) Issue a certificate of incorporation to which the director shall affix the other duplicate original.

(2) The certificate of incorporation, with one of the duplicate originals affixed thereto shall be returned to the incorporators or their representative.

(3) Upon issuance of the certificate of incorporation the corporate existence of a banking institution begins. [Amended by 1973 c.797 §59; 1997 c.631 §44]

Source: Section 707.120 — Issuance of certificate of incorporation when filings conform to law , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.580 — OR Code / Title 53 / Chapter 708a / Section 708a.580
708A.580 Capital-strengthening corporations
Status: in_force

(1) An institution may not carry on the institution’s books, at a value in excess of 20 percent of the institution’s capital, the aggregate amount of stock of or membership interests in a corporation or limited liability company the institution acquired under ORS 708A.125 (Stock in corporations acquired to strengthen capital or eliminate undesirable assets) for the purpose of strengthening the institution’s capital or eliminating undesirable assets.

(2) The institution each year shall amortize the book value of the stock or membership interests by not less than five percent of the original book value of the stock or membership interests. [1997 c.631 §191; 2015 c.244 §69]

Source: Section 708A.580 — Capital-strengthening corporations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.135 — OR Code / Title 53 / Chapter 711 / Section 711.135
711.135 Action by director on plan of merger or share exchange involving Oregon stock bank
Status: in_force

(1) Within 90 days after the Director of the Department of Consumer and Business Services receives the materials and fee specified in ORS 711.130 (Approval of plan of merger or share exchange involving Oregon stock bank) , unless the director extends the time in concurrence with the applicants, the director shall approve or disapprove a plan of merger or plan of share exchange. The director shall approve the plan of merger or plan of share exchange if the director finds that:

(a) The transaction conforms with the provisions of the Bank Act;

(b) The transaction will not be detrimental to the safety and soundness of the resulting insured stock institution or the Oregon stock bank to be acquired through a share exchange;

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

(d) The director is satisfied that the state or federal supervisory authority that has jurisdiction over the resulting insured stock institution or acquiring company permits the transaction.

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

(3) Any of the parties to the transaction 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 §272; 2015 c.244 §82]

Source: Section 711.135 — Action by director on plan of merger or share exchange involving Oregon stock bank; appeal , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 717.905 — OR Code / Title 53 / Chapter 717 / Section 717.905
717.905 Criminal penalties
Status: in_force

(1) Except as provided in this section, violation of any provision of ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) is a Class A misdemeanor.

(2) Any person that makes a material, false statement in any document filed or required to be filed under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) with the intent to deceive the recipient of the document is guilty of a Class C felony.

(3) Any person that engages in the business of money transmission without a license is guilty of a Class C felony. [1999 c.571 §24]

Source: Section 717.905 — Criminal penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 716.578 — OR Code / Title 53 / Chapter 716 / Section 716.578
716.578 Purchase of notes secured by real estate from third persons
Status: in_force

A savings bank may take and hold by purchase and assignment from third persons notes, bonds, mortgages and deeds of trust eligible for investment under ORS 716.552 (Investments in notes or bonds secured by real estate mortgages or trust deeds) to 716.574 (Purchase of real estate sale contract as loan) . [Formerly 716.480]

Source: Section 716.578 — Purchase of notes secured by real estate from third persons , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 714.270 — OR Code / Title 53 / Chapter 714 / Section 714.270
714.270 Prohibitions on use of ATM for banking information
Status: in_force

No person shall use or attempt to use an ATM facility for the purpose of obtaining any information concerning an account or line of credit other than the person’s own account or line of credit without the prior approval of an authorized signer on the account or line of credit. No person having received prior approval of the customer shall utilize such authority to obtain through the use of the ATM any information not necessary to the transaction which the customer seeks to accomplish through its use. [1975 c.193 §9; 1993 c.381 §7; 1997 c.631 §310]

Source: Section 714.270 — Prohibitions on use of ATM for banking information , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 717.320 — OR Code / Title 53 / Chapter 717 / Section 717.320
717.320 Short title
Status: in_force

ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) may be cited as the “Oregon Money Transmitters Act.” [1999 c.571 §27]

Source: Section 717.320 — Short title , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 711.230 — OR Code / Title 53 / Chapter 711 / Section 711.230
711.230 Claims
Status: in_force

(1) Claims of all persons, other than depositors, against the institution shall be presented in writing to the institution within one year after the date of first publication provided for in ORS 711.220 (Notice of voluntary liquidation) , unless barred by an earlier period of limitation. Claims arising out of the expense of liquidation may be filed at any time prior to the closing of the liquidation.

(2) The board of directors shall, within 30 days after the presentment of a claim, allow or reject the claim, in whole or in part, noting the same in their minutes. The board shall notify the claimants in writing of its action, either by personal service or by mail. Any claim rejected or disallowed is barred unless action to adjudicate the claim is commenced within 60 days after the date of service or mailing of notice of disallowance or rejection.

(3) The board of directors may extend the time within which to receive claims and continue the liquidation after the expiration of the time allowed in this section for the filing of claims. Any new claims filed after the time shall be allowed and paid or rejected in the same manner as provided for other claims. If the liquidation is continued, the transfer of unclaimed deposits to the State Treasurer may be delayed to such time as designated by the Director of the Department of Consumer and Business Services. [Amended by 1959 c.138 §2; 1973 c.797 §242; 2019 c.678 §72]

Source: Section 711.230 — Claims; time within which presented; extension of time , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.640 — OR Code / Title 53 / Chapter 711 / Section 711.640
711.640 Termination of suspension or restriction on payment of liabilities
Status: in_force

(1) The Director of the Department of Consumer and Business Services may, by order, on a date fixed by the order and at least 10 days after the date of the order, terminate the suspension or restriction on payment of liabilities of the Oregon stock bank designated in the order.

(2) Immediately upon the termination of the suspension or restriction on payment of liabilities of the Oregon stock bank designated in the order, the director shall surrender possession of the assets and properties of the Oregon stock bank to the proper officers of the Oregon stock bank. The receipt of the officers operates as a full release of the director. [1973 c.797 §297; 1997 c.631 §257]

Source: Section 711.640 — Termination of suspension or restriction on payment of liabilities , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 714.025 — OR Code / Title 53 / Chapter 714 / Section 714.025
714.025 Notice required to establish branches in Oregon or outside of Oregon
Status: in_force

(1) Intentionally left blank —Ed.

(a) A banking institution may establish and operate one or more branches within or outside this state. Not later than 30 days before the board of directors of a banking institution establishes a branch, the banking institution shall file a notice with the Director of the Department of Consumer and Business Services that sets forth the name of the banking institution, the proposed location of the branch and the date on which the branch will begin operating. The director shall promptly advise the banking institution if the notice is incomplete or if the director requires additional information.

(b) The director may limit or restrict a banking institution’s ability to establish an additional branch if the director determines that establishing an additional branch would adversely affect the banking institution’s safety and soundness. A banking institution may appeal the director’s decision in a contested case proceeding in accordance with ORS chapter 183.

(2) Mobile banking facilities described in ORS 714.035 (Mobile banking facilities) and temporary branches are branches for purposes of this section. A temporary branch is a branch that operates for a period not to exceed 60 days, a period that may not be extended. The application fee for a temporary branch is $100. The director may establish rules regarding temporary branches.

(3) Branches to be located in other countries or to be located in dependencies or insular possessions of the United States are subject to the requirements of this section and ORS 714.045 (Establishment of foreign branches) . [1997 c.631 §313; 2015 c.244 §88a]

Source: Section 714.025 — Notice required to establish branches in Oregon or outside of Oregon; fee; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 707.680 — OR Code / Title 53 / Chapter 707 / Section 707.680
707.680 Special board meetings called by director
Status: in_force

(1) The Director of the Department of Consumer and Business Services may call a meeting of the board of directors of any banking institution by mailing a notice of the meeting to each director. The notice shall state the purpose of the meeting and designate the time and place where the meeting shall be held.

(2) A director who fails to appear at the meeting without proper cause is subject to a penalty of up to $1,000 for each meeting the director fails to attend. The penalty shall be collected in the manner prescribed by ORS 706.570 (Requirement that banking institution keep books and accounts) . [Amended by 1973 c.797 §91; 1997 c.631 §97]

Source: Section 707.680 — Special board meetings called by director; penalty for failure to attend , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.170 — OR Code / Title 53 / Chapter 708a / Section 708a.170
708A.170 Securities powers
Status: in_force

An institution may, with the approval of the Director of the Department of Consumer and Business Services, purchase, sell, issue, underwrite and deal in securities to the same extent national banks may do so. [1997 c.631 §129]

Source: Section 708A.170 — Securities powers , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.165 — OR Code / Title 53 / Chapter 711 / Section 711.165
711.165 Effective date of merger involving Oregon nonstock bank
Status: in_force

(1) If the resulting insured nonstock institution is an Oregon nonstock bank, the merger shall, unless a later date is specified in the plan of merger, become effective upon the filing with the Director of the Department of Consumer and Business Services the approved plan of merger and evidence satisfactory to the director that all federal regulatory requirements, if any, have been satisfied. The charters of each Oregon nonstock bank that is a party to the merger, other than the resulting insured nonstock institution, shall terminate when the merger becomes effective.

(2) If the resulting insured nonstock institution is an insured nonstock institution, the effective date and time of the merger shall be determined under the laws governing the resulting insured nonstock institution. The merger will be effective as to each Oregon nonstock bank that is a party to the merger when copies of the resolutions of the directors of the Oregon nonstock bank approving the plan of merger and evidence of the effective date and time of the merger are filed with the director.

(3) If the resulting insured nonstock institution is an Oregon nonstock bank, the director shall promptly issue to the resulting insured nonstock institution a certificate of merger specifying the names of the parties to the merger, the name of the resulting insured nonstock institution, and the date on which the merger became effective as prescribed in subsection (1) of this section. The certificate shall be prima facie evidence of the merger and of the correctness of all proceedings and may be recorded in any office for the recording of deeds to evidence the new name in which the property of the merging insured nonstock institutions is held. [1997 c.631 §278]

Source: Section 711.165 — Effective date of merger involving Oregon nonstock bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 716.568 — OR Code / Title 53 / Chapter 716 / Section 716.568
716.568 Requirement of insurance for loan secured by mortgage, trust deed or other instrument on real estate
Status: in_force

If a loan is secured by mortgage, deed of trust or other similar instrument on real estate, the mortgage, deed of trust or other instrument shall contain provisions requiring the maintenance of insurance on the buildings on the premises to the reasonable amount as stipulated in the mortgage, deed of trust or other instrument. The policy shall be payable, in case of loss, to the savings bank and shall be deposited with the savings bank except where the savings bank’s interest is insured under a blanket policy of insurance. [1973 c.797 §371g; 1985 c.554 §11]

Source: Section 716.568 — Requirement of insurance for loan secured by mortgage, trust deed or other instrument on real estate , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.140 — OR Code / Title 53 / Chapter 707 / Section 707.140
707.140 Submission of organization information
Status: in_force

(1) When subscriptions totaling not less than the amount of the initial paid-in capital have been received, the incorporators shall submit for filing with the Director of the Department of Consumer and Business Services:

(a) A list of stockholders, showing name, address, number of shares and amount paid, certified by the president or cashier.

(b) A certificate of any escrow agent holding moneys in escrow as payment for subscriptions to stock of the institution or Oregon stock savings bank showing the amount held.

(c) A list of the directors and senior officers elected.

(d) A copy of its bylaws certified to by its president or cashier.

(e) Evidence of approval by the Federal Deposit Insurance Corporation of the Oregon commercial bank’s or Oregon stock savings bank’s application for deposit insurance.

(2) Upon receiving the items referred to in subsection (1) of this section, the director shall examine the condition of the institution or Oregon stock savings bank. If, upon examination, the director determines that the institution or Oregon stock savings bank has complied with the requirements of the Bank Act and that the amount of the institution’s or Oregon stock savings bank’s initial paid-in capital has been paid or is held in escrow for release upon issuance of a charter, the director shall issue to the institution or Oregon stock savings bank a charter, which, depending on the form of the application and the approval of the director, shall be to do a banking business either as an Oregon commercial bank or as an Oregon stock savings bank, or to do a trust business, or to do both a banking and trust business. [Amended by 1973 c.797 §61; 1987 c.216 §2; 1997 c.631 §47]

Source: Section 707.140 — Submission of organization information; issuance of charter , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.570 — OR Code / Title 53 / Chapter 708a / Section 708a.570
708A.570 Community development corporations
Status: in_force

Investments in community development corporations under ORS 708A.150 (Community development corporations) must be accounted for on an institution’s books as “other assets.” If the community development corporation is organized under the Oregon Nonprofit Corporation Law, the stock of the corporation purchased by the institution, or the institution’s membership in the corporation if it does not issue stock, shall be carried on the books of the institution at a value not exceeding $1. [1997 c.631 §189]

Source: Section 708A.570 — Community development corporations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.420 — OR Code / Title 53 / Chapter 709 / Section 709.420
709.420 Actions or suits on claims
Status: in_force

(1) In all actions to determine claims to the deposits, the Director of the Department of Consumer and Business Services shall be a necessary party defendant.

(2) An action shall not be considered to have begun within the time required by the order unless, in the case of defendants within the state, summons is actually served within 60 days after the time limited in the order.

(3) Actions filed to determine claims to the deposits shall have preference upon the calendar of any Oregon trial or appellate court and shall be tried by such courts without unnecessary delay. [Amended by 1973 c.797 §212; 1997 c.631 §224]

Source: Section 709.420 — Actions or suits on claims; service of summons; preference on calendar , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 716.320 — OR Code / Title 53 / Chapter 716 / Section 716.320
716.320 Removal of director
Status: in_force

(1) A board member of an Oregon nonstock bank may be removed from office by the affirmative vote of three-fourths of the directors at any regular meeting of the board if:

(a) The board member’s conduct is of such character as to be injurious to the Oregon nonstock bank;

(b) A written copy of the charges made against the board member has been served upon the board member personally, and upon the Director of the Department of Consumer and Business Services, at least two weeks before the meeting; and

(c) The vote of the directors by ayes and noes is entered in the record of the minutes of the meeting.

(2) The office of a director of an Oregon nonstock bank immediately becomes vacant if the director:

(a) Becomes disqualified for any of the reasons specified in ORS 716.210 (Number and qualifications of directors) (2).

(b) Has failed to attend the regular meetings of the board of directors, or to perform any of the duties as director, for a period of six successive months, unless excused by the board for the failure.

(3) A director who has forfeited or vacated office is not eligible for reelection unless the forfeiture or vacancy occurred solely by reason of the director’s neglect of official duties as prescribed in subsection (2)(b) of this section. [Amended by 1961 c.278 §2; 1973 c.797 §364; 1997 c.631 §346]

Source: Section 716.320 — Removal of director; vacation of director’s office , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.175 — OR Code / Title 53 / Chapter 708a / Section 708a.175
708A.175 Right to purchase, hold and dispose of real and personal property
Status: in_force

An institution may purchase, hold, convey, sell or lease:

(1) The real estate and improvements thereto in which the business of the institution is carried on, including, with its offices, other space in the same building to rent as a source of income.

(2) Furniture, fixtures, vaults, safe deposit boxes and other personal property necessary or convenient to carrying on the business of the institution.

(3) Real or personal property purchased by or conveyed to the institution in satisfaction of or on account of debts previously contracted in the course of its business, or otherwise acquired in the course of collecting debts.

(4) Real estate purchased at execution sale or under a judgment.

(5) Real estate conveyed to the institution in connection with its purchase of a bona fide contract of sale covering the real estate conveyed.

(6) Real estate purchased with the approval of the Director of the Department of Consumer and Business Services for the purpose of future location or expansion of the business of the institution.

(7) Real estate held in trust and real estate purchased with assets other than those of the institution. [1997 c.631 §131; 2003 c.576 §545]

Source: Section 708A.175 — Right to purchase, hold and dispose of real and personal property , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).