ORS § 711.220 — OR Code / Title 53 / Chapter 711 / Section 711.220
711.220 Notice of voluntary liquidation
Status: in_force

(1) If a vote is taken authorizing the voluntary liquidation of an institution, the board of directors shall cause to be published in a newspaper of general circulation in the city, town or county in which the principal office of the institution is located, at least once a week for four consecutive weeks, notice of the liquidation notifying depositors, other creditors or claimants to present their claims for payment.

(2) Claims of depositors shall be paid upon the presentation of a check, passbook, certificate of deposit or other instrument required for payment before the institution went into voluntary liquidation. Disputed claims shall be presented in writing for allowance or rejection in the manner provided in ORS 711.230 (Claims) for claims of other creditors.

(3) Within 60 days after the last publication of the notice provided for in this section, an institution in voluntary liquidation shall mail a written notice of its intention to liquidate to the last-known address of all depositors and other creditors who have not yet claimed the full amount shown to be due them according to the records of the institution. [Amended by 1973 c.797 §240]

Source: Section 711.220 — Notice of voluntary liquidation; presentation of claims , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 714.064 — OR Code / Title 53 / Chapter 714 / Section 714.064
714.064 Time to commence business
Status: in_force

A branch shall commence business within one year after the banking institution files notice with the Director of the Department of Consumer and Business Services under ORS 714.025 (Notice required to establish branches in Oregon or outside of Oregon) . The director may extend for one additional year the period within which the banking institution may establish the branch. If a branch fails to commence business within the year or any extension of time the director grants, the director shall deem the banking institution to have withdrawn the notice and the branch may not open or operate. [1997 c.631 §319; 2015 c.244 §88f]

Source: Section 714.064 — Time to commence business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 716.552 — OR Code / Title 53 / Chapter 716 / Section 716.552
716.552 Investments in notes or bonds secured by real estate mortgages or trust deeds
Status: in_force

A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in notes or bonds, secured by first or junior mortgages or deeds of trust upon real estate. [Formerly 716.470; 1979 c.199 §8; 1979 c.810 §3; 1985 c.554 §5]

Source: Section 716.552 — Investments in notes or bonds secured by real estate mortgages or trust deeds , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 715.017 — OR Code / Title 53 / Chapter 715 / Section 715.017
715.017 Out-of-state financial holding companies
Status: in_force

An out-of-state financial holding company or an out-of-state bank holding company may become the financial holding company or the bank holding company of:

(1) An Oregon stock bank or an in-state federal stock bank, by itself or together with any predecessor, only if the Oregon stock bank or in-state federal stock bank has been engaged in the business of banking in this state for a period of not less than three years prior to the date on which the out-of-state financial holding company or the out-of-state bank holding company becomes the financial holding company or the bank holding company of the Oregon stock bank or in-state federal stock bank.

(2) An Oregon stock bank organized under ORS 707.025 (Organization of banking institution for purpose of merging with, acquiring assets of or assuming liabilities of financial institution) that has merged with or acquired all or substantially all of the assets and liabilities of an Oregon stock bank or in-state federal stock bank, by itself or together with any predecessor, only if the Oregon stock bank or in-state federal stock bank has been engaged in the business of banking in this state for a period of not less than three years prior to the date on which the out-of-state financial holding company or the out-of-state bank holding company becomes the financial holding company or the bank holding company of the Oregon stock bank. [1997 c.631 §330; 2001 c.377 §31]

Source: Section 715.017 — Out-of-state financial holding companies; out-of-state bank holding companies , https://www.­oregonlegislature.­gov/bills_laws/ors/ors715.­html (accessed May 26, 2025).
ORS § 708a.305 — OR Code / Title 53 / Chapter 708a / Section 708a.305
708A.305 Obligations of other financial institutions
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 acquire obligations of other financial institutions without regard to amount in the form of time or demand deposits that it places with such other financial institutions. [1997 c.631 §146]

Source: Section 708A.305 — Obligations of other financial institutions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.340 — OR Code / Title 53 / Chapter 709 / Section 709.340
709.340 Trust company quitting business
Status: in_force

A trust company quitting business shall furnish to the Director of the Department of Consumer and Business Services satisfactory evidence of its release and discharge from all obligations and trusts provided for in the Bank Act. The director shall examine the trust company, and, if the director is satisfied after the examination that the trust company has discharged all its obligations and trusts, the director shall revoke its certificate of authority and deliver up all securities on deposit with the director under ORS 709.030 (Approval to transact trust business) . [Amended by 1973 c.797 §207]

Source: Section 709.340 — Trust company quitting business; examination , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 711.515 — OR Code / Title 53 / Chapter 711 / Section 711.515
711.515 “Depositor” defined
Status: in_force

(1) As used in ORS 711.515 (“Depositor” defined) to 711.525 (Interest on deposits after Oregon stock bank closes) , “depositor” includes purchasers or holders in due course of certificates of deposit, cashiers’ checks, certified checks, outstanding unpaid drafts drawn or issued by an Oregon stock bank, unsecured letters of credit and unsecured drafts accepted by the Oregon stock bank if the instruments enumerated are issued pursuant to cash or credit actually received or realized by the Oregon stock bank.

(2) A depositor or deposit, including deposits of the State of Oregon or any county, city or political subdivision thereof, shall not have a preference or prior lien on any assets of an insolvent Oregon stock bank over the claims of other depositors or deposits, unless the assets have been pledged as security in compliance with the provisions of law. This subsection does not apply to any claims or demands involving funds held by an Oregon stock bank under an express oral or written trust agreement, where a preference to the trust funds may be established by evidence satisfactory to the Director of the Department of Consumer and Business Services and the supervising court. [Amended by 1973 c.797 §269; 1997 c.631 §249]

Source: Section 711.515 — “Depositor” defined; preferences among depositors , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 709.330 — OR Code / Title 53 / Chapter 709 / Section 709.330
709.330 Sale or transfer of assets or liabilities
Status: in_force

(1) When a sale or transfer of assets or liabilities becomes effective, the purchasing corporation succeeds to all the rights, obligations and relations of the selling corporation to or in respect to any person, estate, creditor, depositor, trustee or beneficiary of any trust and in respect to any fiduciary relation, and the rights, obligations and relations remain unencumbered.

(2) The sale or transfer of assets or liabilities does not effect a renunciation or revocation of any letters of administration, letters testamentary, letters of guardianship or any other fiduciary relationship.

(3) If any trust, estate, conservatorship or other fiduciary relationship of the selling corporation requires a court to approve a change of the fiduciary, within 90 days after the change becomes effective the successor fiduciary shall file notice of the change with the court that has jurisdiction and serve notice of the change upon each beneficiary. The successor fiduciary may serve the notice in the manner provided in ORCP 9 or, if the residence of a beneficiary is not known, the successor fiduciary may publish the notice in the manner provided for the publication of summons.

(4) A beneficiary or other person that is interested in the trust, estate, conservatorship or other fiduciary relationship may, within 90 days after the service of the notice described in subsection (3) of this section, apply to the appropriate court for a change of fiduciary or such other relief as may be proper. [Amended by 1973 c.797 §206; 1979 c.284 §195; 1997 c.631 §219a; 2015 c.244 §78]

Source: Section 709.330 — Sale or transfer of assets or liabilities; effect on fiduciary relations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 706.775 — OR Code / Title 53 / Chapter 706 / Section 706.775
706.775 Enforcement of Bank Act
Status: in_force

(1) For the purpose of an investigation or proceeding under the Bank Act, the Director of the Department of Consumer and Business Services may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of books, papers, correspondence, memoranda, agreements or other documents or records that the director considers relevant or material to the inquiry.

(2) If a person fails to comply with a subpoena so issued or a party or witness refuses to testify on any matter, the judge of the circuit court for any county, on the application of the director, shall compel obedience by proceedings for contempt as in the case of disobedience of the requirements of subpoena issued from the court or a refusal to testify therein.

(3) Each witness who appears before the director under a subpoena shall receive the fees and mileage provided for witnesses in ORS 44.415 (Fees and mileage of witnesses) (2), except that a witness subpoenaed at the instance of parties other than the director or an examiner shall not be compensated for attendance or travel unless the director certifies that the testimony of the witness was material to the matter investigated.

(4) The director in any investigation may cause the depositions of witnesses to be taken in the manner prescribed by law for like depositions in civil suits in the circuit court. [Formerly 706.410; 1989 c.980 §19]

Source: Section 706.775 — Enforcement of Bank Act; production of witnesses and evidence; fees and mileage of witnesses , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 711.567 — OR Code / Title 53 / Chapter 711 / Section 711.567
711.567 Supervising court to bar claims to facilitate closing
Status: in_force

To facilitate the final closing of the liquidation of the institution, the supervising court may, by order, bar all claims at any time after one year from the date of the first publication of notice to creditors under ORS 711.530 (Notice to creditors to present claims) . [1973 c.797 §280]

Source: Section 711.567 — Supervising court to bar claims to facilitate closing , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 716.610 — OR Code / Title 53 / Chapter 716 / Section 716.610
716.610 General powers
Status: in_force

A savings bank, subject to the restrictions and limitations contained in this chapter, may:

(1) Receive time deposits and demand deposits of money without restriction.

(2) Offer time and savings accounts and other kinds of deposit accounts, including but not limited to automatic savings to checking transfer accounts and negotiable order of withdrawal accounts, to individuals and nonprofit corporations.

(3) Exercise by its board of directors or authorized officers or agents, subject to law, all powers necessary to carry on the business of savings banks.

(4) Pay depositors when requested by them, by drafts upon deposits to the credit of the savings bank in any city in the United States, and charge current rates of exchange for the drafts.

(5) Borrow money, and pledge securities to secure the money borrowed, but any amount borrowed in excess of 20 percent of deposits shall first be approved in writing by the Director of the Department of Consumer and Business Services. The failure to obtain the approval of the director shall not make an excess loan invalid as to the lender.

(6) Collect or protest promissory notes or bills of exchange owned by the savings bank or held by it as collateral, and charge the usual fees for the collection or protest.

(7) Sell gold or silver received in payment of interest or principal of obligations owned by the savings bank, or from depositors in the ordinary course of business.

(8) Become a member of the Federal Reserve Bank or the Federal Home Loan Bank of the district in which the savings bank is located.

(9) Conduct a trust business and exercise all the powers of a trust company as defined by ORS 709.150 (General powers of trust companies) upon compliance with the laws of this state relating to the regulations of a trust business.

(10) 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) except for title insurance. With respect to the exercise of the power granted under this subsection, other than the maintenance of any insurance license granted to a savings bank prior to September 27, 1987, or the licensing of the savings bank to transact types of limited class insurance, as that term is defined in ORS 744.052 (Definitions for ORS 744.052 to 744.089) , designated by the Director of the Department of Consumer and Business Services:

(a) The conduct by the savings bank of insurance producer activities shall be subject to the approval of the director. The director shall base consideration for approval on the condition of the savings bank, the adequacy of a formal business plan for the insurance activities and the existence of satisfactory management for the insurance activity.

(b) The director may revoke or restrict the ongoing authority of the savings bank to engage in the insurance producer activity if the condition of the savings bank substantially deteriorates or if the insurance activities are adversely affecting the savings bank.

(c) The savings bank shall file a written report with the director no later than March 31 each year disclosing the insurance activities of the savings bank. The required contents of the report shall be established by the director by rule. The reports filed with the director under this paragraph shall be available for public inspection in the office of the director.

(d) The savings bank shall not in any manner use customer information obtained from another insurance producer to promote, develop or solicit insurance business for the savings bank unless the other insurance producer consents to such use of the customer information. [Amended by 1955 c.690 §1; 1957 c.167 §1; 1969 c.211 §5; 1971 c.219 §6; 1973 c.797 §380; 1981 c.192 §33; 1987 c.916 §5; 1989 c.331 §32; 1989 c.701 §68; 1993 c.52 §2; 1995 c.334 §4; 1997 c.831 §5; 2001 c.191 §56; 2003 c.363 §11; 2003 c.364 §62a]

Source: Section 716.610 — General powers; licensing as insurance producer; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 706.710 — OR Code / Title 53 / Chapter 706 / Section 706.710
706.710 Waiver of retirement or resignation notices
Status: in_force

The Director of the Department of Consumer and Business Services may, by writing, waive the notices provided for in ORS 706.690 (Transfer of stock or controlling interest) and 706.700 (Resignation or retirement of director, president or chief executive officer) , or shorten the period after the notice when the resignation or retirement becomes effective. [Amended by 1973 c.797 §42; 1975 c.544 §5; 1995 c.316 §2]

Source: Section 706.710 — Waiver of retirement or resignation notices; modifying effective date , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 707.615 — OR Code / Title 53 / Chapter 707 / Section 707.615
707.615 Record date
Status: in_force

(1) For the purpose of determining shareholders entitled to notice of or to vote at any meeting of shareholders or any adjournment thereof or entitled to receive payment of any dividend, or in order to make a determination of shareholders for any other proper purpose, the board of directors of an institution or Oregon stock savings bank may provide that the stock transfer books shall be closed for a stated period, not to exceed in any case 70 days. If the stock transfer books shall be closed for the purpose of determining the shareholders entitled to notice of or to vote at a meeting of shareholders, such books shall be closed for at least 10 days immediately preceding such meeting.

(2) In lieu of closing the stock transfer books, the bylaws or, in the absence of an applicable bylaw, the board of directors may fix in advance a date as the record date for any such determination of shareholders. The record date, in any case, shall be not more than 70 days and, in the case of a meeting of shareholders, not less than 10 days prior to the date on which the particular action, requiring such determination of shareholders, is to be taken. If the stock transfer books are not closed and no record date is fixed for the determination of shareholders entitled to notice of or to vote at a meeting of shareholders, or shareholders entitled to receive payment of a dividend, the close of business on the business day before the date on which notice of the meeting is mailed or the date on which the resolution of the board of directors declaring such dividend is adopted, as the case may be, shall be the record date for such determination of shareholders.

(3) When a determination of shareholders entitled to vote at any meeting of shareholders has been made as provided in this section, such determination shall apply to any adjournment thereof, unless the meeting is adjourned to a date more than 120 days from the original meeting date. [1989 c.324 §44; 1997 c.631 §82]

Source: Section 707.615 — Record date , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 711.217 — OR Code / Title 53 / Chapter 711 / Section 711.217
711.217 Transactions exempt from ORS 711.220 to 711.235
Status: in_force

In a transaction where a purchasing insured institution assumes or agrees to pay all the liabilities of a liquidating institution, ORS 711.220 (Notice of voluntary liquidation) to 711.235 (Report of liquidation to director) do not apply. [1973 c.797 §239; 1997 c.631 §239]

Source: Section 711.217 — Transactions exempt from ORS 711.220 to 711.235 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 717.270 — OR Code / Title 53 / Chapter 717 / Section 717.270
717.270 Conduct of money transmission business through authorized delegates
Status: in_force

Licensees desiring to conduct a money transmission business through authorized delegates shall authorize each delegate to operate pursuant to an express written contract. The contract shall specify the following:

(1) That the licensee appoints the person as the licensee’s delegate with authority to engage in money transmission on behalf of the licensee;

(2) That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the Director of the Department of Consumer and Business Services; and

(3) That licensees, authorized delegates and subdelegates are subject to supervision and regulation by the director. [1999 c.571 §16]

Source: Section 717.270 — Conduct of money transmission business through authorized delegates; contracts , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 708a.595 — OR Code / Title 53 / Chapter 708a / Section 708a.595
708A.595 Charging off personal property assets
Status: in_force

An institution may not carry goods, as defined in ORS 79.0102 (UCC 9-102. Definitions and index of definitions) , and chattels, as defined in ORS 87.142 (Definitions for ORS 87.142 to 87.490 and 87.910) , that the institution owns on account of collecting the institution’s debts on the institution’s books for more than two years after acquiring the goods or chattels, unless the Director of the Department of Consumer and Business Services extends the two-year period. [1997 c.631 §194; 2015 c.244 §71]

Source: Section 708A.595 — Charging off personal property assets , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 716.564 — OR Code / Title 53 / Chapter 716 / Section 716.564
716.564 Investment in notes or bonds secured by mortgages or trust deeds to finance real estate development
Status: in_force

A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in notes or bonds secured by a mortgage, deed of trust or other instrument for the purpose of financing the acquisition and development of land for primarily commercial, industrial or residential usage. A loan may be made on real estate which is to be improved with the developments to be paid for from the proceeds of the loan if the proceeds will be used for that purpose. [1973 c.797 §371e; 1985 c.554 §9]

Source: Section 716.564 — Investment in notes or bonds secured by mortgages or trust deeds to finance real estate development , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 711.500 — OR Code / Title 53 / Chapter 711 / Section 711.500
711.500 Liability of transferor of stock made in contemplation of insolvency
Status: in_force

(1) Stockholders in an institution who have transferred their stock or registered the transfer of their stock within 60 days before the date of the closing of the institution or with the knowledge of the impending closing or failure, are liable, as if the transfer had not been made, to the extent that the subsequent transferee fails to pay the unpaid balance on the stock. This subsection does not affect any recourse which a former stockholder might otherwise have against those in whose name the stock is registered at the time the institution closes.

(2) An action may not be brought by the holder of any stock standing in the name of the stockholder on the books of an institution at the time it closes which will relieve the stockholder of liability as a stockholder. [Amended by 1973 c.797 §266]

Source: Section 711.500 — Liability of transferor of stock made in contemplation of insolvency; proceedings to relieve stockholder of liability prohibited , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.480 — OR Code / Title 53 / Chapter 708a / Section 708a.480
708A.480 Transfer of moneys upon death of depositor or trustee is not testamentary disposition
Status: in_force

Any transfers resulting from the application of ORS 708A.470 (Multiple-party accounts) are effective by reason of the account contracts involved and ORS 708A.470 (Multiple-party accounts) , and are not to be considered as testamentary or subject to administration in the estate of a deceased party. [1997 c.631 §177]

Source: Section 708A.480 — Transfer of moneys upon death of depositor or trustee is not testamentary disposition , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.605 — OR Code / Title 53 / Chapter 711 / Section 711.605
711.605 Petitions relating to insolvent institutions
Status: in_force

Any petition relating to an insolvent institution, except a petition by the Director of the Department of Consumer and Business Services, shall be filed with the supervising court and the director. The director shall, within a reasonable time after the petition is filed, grant or refuse the petition and notify the petitioner in writing of the decision. If a petitioner is dissatisfied with the decision of the director the petitioner may, within 30 days after the decision of the director, present the petition, with the decision of the director, to the supervising court. The supervising court shall fix a date for the hearing of the petition, giving reasonable notice of the date to the petitioner and to the director. The supervising court shall determine the matter upon the evidence produced by all the parties, and the burden of proof is upon the petitioner. [Amended by 1973 c.797 §291]

Source: Section 711.605 — Petitions relating to insolvent institutions; ruling by director; court review , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 706.785 — OR Code / Title 53 / Chapter 706 / Section 706.785
706.785 Attorney General to conduct actions
Status: in_force

The Attorney General shall conduct all actions begun by the Director of the Department of Consumer and Business Services under authority of the Bank Act, and may require the assistance of the district attorney of the district in which the action is conducted. [Formerly 706.440]

Source: Section 706.785 — Attorney General to conduct actions; assistance of district attorneys , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 714.290 — OR Code / Title 53 / Chapter 714 / Section 714.290
714.290 Deadlines for compliance with ORS 714.295
Status: in_force

(1) Each operator of an ATM or night deposit facility installed after July 1, 1994, shall comply with ORS 714.295 (Lighting requirements for ATMs and night deposit facilities) . Compliance with ORS 714.295 (Lighting requirements for ATMs and night deposit facilities) by operators of ATMs and night deposit facilities existing on or before July 1, 1994, shall be optional until July 1, 1996, and mandatory thereafter. This section shall apply to an operator of an ATM or night deposit facility only to the extent that the operator controls the access area or defined parking area to be lighted.

(2) If an access area or a defined parking area is not controlled by the operator of an ATM or night deposit facility, and if the person who leased the ATM or night deposit facility site to the operator controls the access area or defined parking area, the person who controls the access area or defined parking area shall comply with ORS 714.295 (Lighting requirements for ATMs and night deposit facilities) regarding any ATM or night deposit facility installed after July 1, 1994. Regarding any ATM or night deposit facility installed on or before July 1, 1994, the person shall comply with ORS 714.295 (Lighting requirements for ATMs and night deposit facilities) no later than July 1, 1996. [1993 c.381 §12]

Source: Section 714.290 — Deadlines for compliance with ORS 714.295 , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 713.020 — OR Code / Title 53 / Chapter 713 / Section 713.020
713.020 Certificate of authority to conduct banking business
Status: in_force

The Director of the Department of Consumer and Business Services shall issue a certificate of authority to conduct banking business in this state to an out-of-state bank or extranational institution that applies for the certificate under ORS 713.140 (Contents of application for certificate of authority) and that otherwise complies with the requirements of this chapter. [Amended by 1965 c.170 §3; 1973 c.797 §310; 1975 c.725 §11; 1983 c.37 §23; 1987 c.197 §8; 1989 c.324 §55; 1991 c.67 §190; 1997 c.631 §287; 2011 c.263 §4]

Source: Section 713.020 — Certificate of authority to conduct banking business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 714.205 — OR Code / Title 53 / Chapter 714 / Section 714.205
714.205 Disclosure of fees for ATM transaction
Status: in_force

(1) If the operator of an ATM charges a fee to any person to use the ATM, the operator shall disclose to persons using the ATM that a fee will be imposed for the ATM transaction.

(2) Subject to subsection (3) of this section, the disclosure required under subsection (1) of this section shall be made electronically during the ATM transaction and shall allow the person who will be charged a fee to cancel the ATM transaction without incurring a fee. The disclosure shall also be printed on the ATM transaction receipt.

(3) The Director of the Department of Consumer and Business Services may adopt rules conforming the disclosure requirements of subsection (2) of this section to disclosure requirements contained in:

(a) Any law enacted by the Congress of the United States; or

(b) Any regulation adopted by any federal agency having regulatory authority over ATMs. [1997 c.631 §310b]

Source: Section 714.205 — Disclosure of fees for ATM transaction; method; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 708a.555 — OR Code / Title 53 / Chapter 708a / Section 708a.555
708A.555 Generally accepted accounting principles
Status: in_force

Except as otherwise provided in the Bank Act or other applicable law, institutions shall keep books and records in accordance with accounting principles generally accepted in the United States (GAAP), consistently applied. [1997 c.631 §186; 2015 c.244 §66]

Source: Section 708A.555 — Generally accepted accounting principles , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 708a.315 — OR Code / Title 53 / Chapter 708a / Section 708a.315
708A.315 Noncommercial short-term notes
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 acquire obligations of a person, not to exceed 15 percent of the bank’s capital, as an indorser or guarantor of notes, other than commercial or business paper excepted under ORS 708A.310 (Obligations of indorser of discounted commercial paper) , having a maturity of not more than six months, and owned by the person indorsing and negotiating the same. [1997 c.631 §148]

Source: Section 708A.315 — Noncommercial short-term notes , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 708a.645 — OR Code / Title 53 / Chapter 708a / Section 708a.645
708A.645 Illegal guaranty or indorsement
Status: in_force

An officer, director or employee of an institution shall not make or deliver any guaranty or indorsement on behalf of the institution whereby the institution becomes liable upon any of its discounted notes, bills or obligations, in any sum beyond the amount of loans and discounts that the institution may legally make. [1997 c.631 §200]

Source: Section 708A.645 — Illegal guaranty or indorsement , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.430 — OR Code / Title 53 / Chapter 709 / Section 709.430
709.430 Release or payment of deposit pending suit
Status: in_force

(1) If any actions on claims against the deposit mentioned in ORS 709.390 (Discontinuance of trust business) are begun within the six-month period, the Director of the Department of Consumer and Business Services shall not release and the court shall not order the payment of any part of the deposit until all actions are determined by final judgment.

(2) When all actions on claims against the deposit are finally determined, so much of the deposit as is necessary shall be paid to the claimants who have established their claims in the sums allowed by the court or, if not sufficient, the deposit shall be distributed pro rata among the claimants establishing their claims.

(3) The court, in the proceeding initiated by the director, shall enter a judgment providing that the balance of the deposit be paid to the trust company or if the trust company is in the process of liquidation, to the official in charge of the liquidation. [Amended by 1973 c.797 §213; 1997 c.631 §225; 2003 c.576 §548]

Source: Section 709.430 — Release or payment of deposit pending suit; distribution of deposits upon determination of suit , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 716.040 — OR Code / Title 53 / Chapter 716 / Section 716.040
716.040 Articles of incorporation
Status: in_force

(1) Not less than five persons may associate themselves by articles of incorporation to form an Oregon savings bank, either as an Oregon stock savings bank or as an Oregon nonstock bank. If the Oregon savings bank is organized as an Oregon stock savings bank, its articles of incorporation shall conform to the provisions set forth in ORS 707.110 (Execution and submission of articles of incorporation) . If the Oregon savings bank is organized as an Oregon nonstock bank, its articles of incorporation shall conform to the provisions of subsection (2) of this section, be executed in duplicate, signed by the incorporators and submitted to the Director of the Department of Consumer and Business Services.

(2) The articles of incorporation of an Oregon nonstock bank shall specify:

(a) The name by which the Oregon nonstock bank is to be known.

(b) The initial principal place where its business is to be transacted, naming the city or town and county.

(c) The address, including street and number, and mailing address, if different, of its initial registered office and the name of its initial registered agent at that office.

(d) The name of each incorporator.

(e) The term of its existence, which may be perpetual.

(f) The purpose for which it is organized.

(g) The sums that each incorporator will contribute in cash to the initial guaranty fund and the expense fund, as provided in ORS 716.060 (Maintenance of guaranty fund or liquidation account) and 716.070 (Expense fund) .

(h) The initial board of directors of the Oregon nonstock bank, composed of not less than five persons, at least three of whom shall be incorporators, who shall serve until their successors are regularly elected and qualified.

(3) The articles of incorporation also may contain any lawful provisions for the regulation of the business, for the conduct of the affairs of the Oregon nonstock bank, defining and regulating the powers of the directors or eliminating or limiting the personal liability of directors to the extent permitted under ORS 707.110 (Execution and submission of articles of incorporation) (5)(c). [Amended by 1973 c.797 §349; 1989 c.447 §2; 1991 c.883 §12; 1997 c.631 §334; 2005 c.192 §12]

Source: Section 716.040 — Articles of incorporation; contents , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.995 — OR Code / Title 53 / Chapter 708a / Section 708a.995
708A.995 Criminal penalties
Status: in_force

Violation knowingly of any of the provisions of ORS 708A.635 (Written policies regarding reporting to and obtaining approval of board) is a Class C felony. [1997 c.631 §202]

Source: Section 708A.995 — Criminal penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.740 — OR Code / Title 53 / Chapter 707 / Section 707.740
707.740 Examining or audit committee
Status: in_force

The board of directors of a banking institution shall annually appoint an examining or audit committee composed solely of not fewer than three outside directors of the banking institution or not fewer than three other individuals who the Director of the Department of Consumer and Business Services approves. The examining or audit committee shall examine and study the report of each examination that bank supervising authorities make and report to the board of directors within 60 days after receiving the report concerning the criticisms and suggestions contained in the report. The examining or audit committee shall also comment on any matter relative to the affairs of the banking institution that in the committee’s judgment the directors should know. The report must be recorded in the minute book of the banking institution, and a copy must be transmitted to the Director of the Department of Consumer and Business Services upon the director’s request. [Amended by 1973 c.797 §96; 1981 c.192 §5; 1985 c.786 §34; 1997 c.631 §105; 2013 c.104 §2; 2015 c.244 §33]

(Indemnification of Directors, Officers, Employees and Agents)

Source: Section 707.740 — Examining or audit committee; duties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 711.570 — OR Code / Title 53 / Chapter 711 / Section 711.570
711.570 Lists of claims
Status: in_force

(1) Upon the expiration of the time fixed under ORS 711.530 (Notice to creditors to present claims) for the presentation of claims, the Director of the Department of Consumer and Business Services shall make in duplicate a list of the claims presented specifying whether the claims have been approved, rejected or neither approved nor rejected pending further investigation. The list shall also note which claims have been presented to the supervising court for appeal. One copy of the list shall be filed in the office of the director and one in the office of the clerk of the supervising court.

(2) The director shall, in like manner, make and file supplemental lists showing all claims presented subsequent to the filing of the first list.

(3) The lists shall be filed in the supervising court at least 15 days before the payment of any dividend on the claims or the payment of any preferred claims. [Amended by 1973 c.797 §281]

Source: Section 711.570 — Lists of claims , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.980 — OR Code / Title 53 / Chapter 711 / Section 711.980
711.980 Civil penalties
Status: in_force

Any person who violates ORS 711.415 (Receiving deposits in excess of insurance while insolvent) 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 for each offense. The civil penalty may be recovered as provided in ORS 706.980 (Civil penalties) . [1975 c.544 §40]

Source: Section 711.980 — Civil penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.210 — OR Code / Title 53 / Chapter 708a / Section 708a.210
708A.210 Challenge to validity of institution action
Status: in_force

(1) Except as provided in subsection (2) of this section, the validity of an institution’s action may not be challenged on the grounds that the institution lacks or lacked power to act.

(2) An institution’s power to act may be challenged:

(a) In a proceeding by a stockholder against the institution to enjoin the act;

(b) In a proceeding by the institution, directly, derivatively or through a receiver, trustee or other legal representative, against an incumbent or former director, officer, employee or agent of the institution; or

(c) By the Director of the Department of Consumer and Business Services.

(3) In a stockholder’s proceeding under subsection (2)(a) of this section to enjoin an unauthorized act, the court may enjoin or set aside the act if equitable and if all affected persons are parties to the proceeding, and may award damages for loss other than anticipated profits suffered by the institution or another party because of enjoining the unauthorized act. [1997 c.631 §137]

Source: Section 708A.210 — Challenge to validity of institution action; prohibition; exceptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 716.420 — OR Code / Title 53 / Chapter 716 / Section 716.420
716.420 Permitted investments
Status: in_force

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

(1) In the obligations specified in ORS 708A.115 (Investment in government obligations) (1), without limitation.

(2) Subject to a limitation of five percent of the assets of the Oregon savings bank, in the obligations specified in ORS 708A.115 (Investment in government obligations) (2).

(3) In shares of any mutual fund or unit trust, the assets of which are invested solely in obligations described in and limited under ORS 708A.115 (Investment in government obligations) . [Amended by 1959 c.185 §12; 1961 c.157 §1; 1963 c.407 §1; 1971 c.219 §2; 1973 c.797 §367; 1981 c.192 §26; 1985 c.786 §53; 1997 c.631 §347]

Source: Section 716.420 — Permitted investments , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.300 — OR Code / Title 53 / Chapter 708a / Section 708a.300
708A.300 Obligations secured by readily marketable collateral
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 or acquire other obligations of a person, not to exceed 10 percent of its capital, if:

(1) The loans or obligations are fully secured by readily marketable collateral having a market value that may be determined by reliable and continuously available price quotations;

(2) The market value is at least 15 percent greater than the amount of the obligation at the time it is incurred; and

(3) The market value is at all times while the obligation is outstanding at least 100 percent of the balance of principal, interest and other charges applicable to the obligation. [1997 c.631 §145]

Source: Section 708A.300 — Obligations secured by readily marketable collateral , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.746 — OR Code / Title 53 / Chapter 707 / Section 707.746
707.746 Authority to indemnify directors
Status: in_force

(1) Except as provided in subsection (4) of this section, a banking institution may indemnify an individual made a party to a proceeding because the individual is or was a director against liability incurred in the proceeding if:

(a) The conduct of the individual was in good faith;

(b) The individual reasonably believed that the individual’s conduct was in the best interests of the banking institution, or at least not opposed to its best interests; and

(c) In the case of any criminal proceeding, the individual had no reasonable cause to believe the individual’s conduct was unlawful.

(2) A director’s conduct with respect to an employee benefit plan for a purpose the director reasonably believed to be in the best interests of the participants in and beneficiaries of the plan is conduct that satisfies the requirement of subsection (1)(b) of this section.

(3) The termination of a proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent is not, of itself, determinative that the director did not meet the standard of conduct described in this section.

(4) A banking institution may not indemnify a director under this section:

(a) In connection with a proceeding by or in the right of the banking institution in which the director was adjudged liable to the banking institution; or

(b) In connection with any other proceeding charging improper personal benefit to the director in which the director was adjudged liable on the basis that personal benefit was improperly received by the director.

(5) Indemnification permitted under this section in connection with a proceeding by or in the right of the banking institution is limited to reasonable expenses incurred in connection with the proceeding. [1989 c.324 §18; 1997 c.631 §107]

Source: Section 707.746 — Authority to indemnify directors , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 713.280 — OR Code / Title 53 / Chapter 713 / Section 713.280
713.280 Effect of laws of state or country in which out-of-state bank or extranational institution is organized
Status: in_force

The Director of the Department of Consumer and Business Services may not deny a certificate of authority to an out-of-state bank or extranational institution solely because the laws of the state or country under which the out-of-state bank or extranational institution is organized, or the laws that govern the organization and internal affairs of the out-of-state bank or extranational institution, differ from the laws of this state. This chapter does not authorize this state to regulate the organization or internal affairs of an out-of-state bank or extranational institution. [1997 c.631 §285; 2011 c.263 §20]

Source: Section 713.280 — Effect of laws of state or country in which out-of-state bank or extranational institution is organized , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 716.032 — OR Code / Title 53 / Chapter 716 / Section 716.032
716.032 Investigation and ruling on application
Status: in_force

The Director of the Department of Consumer and Business Services shall investigate and rule on the application for authority to organize in the manner specified for institutions in ORS 707.080 (Investigation and ruling on application) , 707.090 (Refusal to file articles of incorporation or grant charter after approval of application) and 707.145 (Grounds for refusing authority to organize) . [1973 c.797 §347; 1977 c.135 §30; 1997 c.631 §333]

Source: Section 716.032 — Investigation and ruling on application , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.415 — OR Code / Title 53 / Chapter 708a / Section 708a.415
708A.415 Securing deposits by surety bond, letter of credit or insurance
Status: in_force

(1) An Oregon commercial bank may secure any of the funds deposited with the Oregon commercial bank by giving a surety bond, an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008 (Additional definitions for Bank Act) , or a policy of insurance under which some person other than the Oregon commercial bank becomes liable for deposits, provided that the aggregate face amount of the bonds, letters of credit and policies of insurance does not exceed 20 percent of the capital of the Oregon commercial bank.

(2) A depositor may insure any deposit if the Oregon commercial bank is not a party to the insurance and does not pay any premium or other charges. [1997 c.631 §164]

Source: Section 708A.415 — Securing deposits by surety bond, letter of credit or insurance , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 717.245 — OR Code / Title 53 / Chapter 717 / Section 717.245
717.245 Events requiring filing of report with director
Status: in_force

Within 15 days following the occurrence of any one of the events listed in this section, a licensee shall file a written report with the Director of the Department of Consumer and Business Services describing the event and the event’s expected effect on the licensee’s activities in this state:

(1) The filing for bankruptcy or reorganization by the licensee or the licensee’s sole owner;

(2) The commencement of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensee’s money transmission activities;

(3) Any felony indictment of the licensee or any of its key officers or directors;

(4) Any felony conviction of the licensee or any of its key officers or directors; or

(5) The theft of payment instruments from the licensee in an amount equal to or greater than 10 percent of a licensee’s monthly amount of outstanding payment instruments. [1999 c.571 §11]

Source: Section 717.245 — Events requiring filing of report with director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 707.075 — OR Code / Title 53 / Chapter 707 / Section 707.075
707.075 Banking institution name
Status: reserved

(1) The corporate name of a banking institution:

(a) May not contain any word or phrase that indicates or implies that the banking institution is organized for any purpose other than one or more of the purposes contained in the banking institution’s articles of incorporation.

(b) Must be 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:

(i) Any corporation, professional corporation, nonprofit corporation, cooperative, limited liability company, limited partnership or business trust currently on file with the Secretary of State; or

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

(2) The director may refuse to permit a banking institution to use any name the director determines is not distinguishable from the name of a financial institution that is already lawfully engaging in banking business or making loans in this state.

(3) A banking institution may transact business under one or more assumed business names if the assumed business names meet the requirements of subsection (1) of this section, unless the director determines that the assumed business names are 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) ;

(b) 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

(c) Any reserved, registered or assumed business name currently on file with the Secretary of State. [1985 c.762 §36; 1997 c.631 §37; 2015 c.244 §17]

Source: Section 707.075 — Banking institution name , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 711.577 — OR Code / Title 53 / Chapter 711 / Section 711.577
711.577 Death of depositor
Status: in_force

(1) Any person who would be entitled to withdraw a deposit under ORS 708A.430 (Disposition of deposit on death of depositor) may claim the deposit and receive dividends thereon, or if claim has been made it may be amended after the death of the claimant so that future dividends are paid to the person entitled thereto under ORS 708A.430 (Disposition of deposit on death of depositor) .

(2) If any claim is more than $500, dividends may be paid to the person entitled thereto, as provided in ORS 708A.430 (Disposition of deposit on death of depositor) , if the Director of the Department of Consumer and Business Services is satisfied that the total dividends to be paid after the death of the claimant are less than $100.

(3) The director is under no obligation to determine the relationship of the affiants or declarants to the deceased depositor and the payment of dividends made in good faith to parties making the affidavit or declaration shall be a release of the director for the amount of the dividends so paid. [1973 c.797 §284; 1997 c.631 §251a; 2017 c.51 §4]

Source: Section 711.577 — Death of depositor; payment of claim , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 707.619 — OR Code / Title 53 / Chapter 707 / Section 707.619
707.619 Voting entitlement of shares
Status: in_force

(1) Each outstanding share, regardless of class, shall be entitled to one vote on each matter submitted to a vote at a meeting of shareholders, except to the extent that the voting rights of the shares of any class or classes are limited or denied by the articles of incorporation as permitted by the Bank Act.

(2) Neither shares of its own stock held by the institution or Oregon stock savings bank in a fiduciary capacity, nor shares held by another corporation if a majority of the shares entitled to vote for the election of directors of such other corporation is held by the institution or Oregon stock savings bank shall be voted at any meeting or counted in determining the total number of outstanding shares at any given time. The prohibition of this subsection does not apply if, under the terms of a trust in which such shares are held, the manner in which such shares shall be voted may be determined by the trustee, by a donor or beneficiary of the trust or by some other person named in the trust, and such shares are actually voted in the manner determined or directed by the trustee, donor, beneficiary or other person so authorized.

(3) A shareholder may vote either in person or by proxy executed in writing by the shareholder or by the shareholder’s duly authorized attorney in fact. No proxy shall be valid after 11 months from the date of its execution, unless otherwise provided in the proxy.

(4) In electing each director for whose election the shareholder has a right to vote, every shareholder entitled to vote at such election shall have the right to vote, either in person or by proxy, the number of shares owned by the shareholder. If the articles of incorporation specifically permit cumulative voting, every shareholder shall have the right to cumulate the shareholder’s votes either by giving one candidate as many votes as the number of such directors multiplied by the number of the shareholder’s shares shall equal or by distributing such votes on the same principle among any number of such candidates.

(5) Shares standing in the name of another domestic or foreign corporation, a limited liability company, a partnership or another entity may be voted by such officer, agent or proxy as the governing documents of the entity may prescribe or, in absence of such provision, as the board of directors or other governing body of the entity holding the shares may determine.

(6) Shares held by a personal representative, administrator, executor, guardian or conservator may be voted by such person, either in person or by proxy, without a transfer of such shares into such person’s name. Shares standing in the name of a trustee may be voted by the trustee, either in person or by proxy, but no trustee shall be entitled to vote shares held by the trustee without a transfer of the shares to the name of the trustee.

(7) Shares standing in the name of a receiver may be voted by such receiver, and shares held by or under control of a receiver may be voted by such receiver without a transfer into the receiver’s name if authority to do so is contained in an appropriate order of the court by which such receiver was appointed.

(8) Shares may be voted by a pledgee or attorney-in-fact of the shareholder if authorized by the pledge agreement or power of attorney and evidence of such authority is presented to the institution or Oregon stock savings bank upon request.

(9) On and after the date on which written notice of redemption of shares has been mailed to the holders thereof and a sum sufficient to redeem such shares has been deposited with another institution or Oregon stock savings bank with irrevocable instruction and authority to pay the redemption price to the holders thereof upon surrender of certificates therefor, such shares shall not be entitled to vote on any matter and shall not be deemed to be outstanding shares. [1989 c.324 §47; 1997 c.631 §84]

Source: Section 707.619 — Voting entitlement of shares , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.515 — OR Code / Title 53 / Chapter 708a / Section 708a.515
708A.515 Designation of agent for account
Status: in_force

ORS 708A.455 (Definitions for ORS 708A.455 to 708A.515) to 708A.465 (Ownership of multiple-party accounts) do not preclude a party to an account from adding the name of another person to the account with the designation “agent.” The agent does not have a present or future interest in the sums on deposit in such account, but the insured institution may honor requests from the agent for payment from the account, unless the principal is deceased at the time the agent requests the payment and the insured institution has actual knowledge of the principal’s death. An insured institution’s payment from the account at the agent’s request discharges the insured institution from all claims for amounts the insured institution paid. [1997 c.631 §184; 2015 c.244 §65]

Source: Section 708A.515 — Designation of agent for account; powers of agent , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 714.285 — OR Code / Title 53 / Chapter 714 / Section 714.285
714.285 Adoption of procedures for evaluating safety of ATM or night deposit facilities
Status: in_force

Before installing any ATM or night deposit facility, the operator shall adopt procedures for evaluating the safety of the ATM or night deposit facility. For ATMs and night deposit facilities installed on or before July 1, 1994, operators shall adopt procedures not later than July 1, 1994. The procedures shall include a consideration of the following:

(1) The extent to which the lighting for the ATM or night deposit facility complies or will comply with the standards required by ORS 714.290 (Deadlines for compliance with ORS 714.295) and 714.295 (Lighting requirements for ATMs and night deposit facilities) .

(2) The presence of landscaping, vegetation or other obstructions in the area of the ATM or night deposit facility, the access area and the defined parking area.

(3) The incidence of crimes of violence in the immediate neighborhood of the ATM or night deposit facility, as reflected in the records of the local law enforcement agency and of which the operator has actual knowledge. [1993 c.381 §10]

Source: Section 714.285 — Adoption of procedures for evaluating safety of ATM or night deposit facilities , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 709.240 — OR Code / Title 53 / Chapter 709 / Section 709.240
709.240 Oath and bond exemption for trust company appointed as fiduciary
Status: in_force

An official oath or indemnity bond or other security shall not be required when a trust company is appointed as fiduciary or during the administration of the trust except as required by ORS 709.030 (Approval to transact trust business) and 709.130 (Indemnity bond when cash and securities of fiduciary account exceed stockholders’ equity or members’ equity in trust company) . [Amended by 1973 c.797 §201; 1973 c.823 §144; 1974 c.36 §26]

Source: Section 709.240 — Oath and bond exemption for trust company appointed as fiduciary , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 706.008 — OR Code / Title 53 / Chapter 706 / Section 706.008
706.008 Additional definitions for Bank Act
Status: in_force

"…the law exempts “financial institutions” as defined under Oregon’s Revised Statute 706.008, which has a narrower definition than the GLBA’s equivalent term, and in effect exempts only traditional banks and credit unions." Bibliographic info

As used in the Bank Act:

(1) “Bank” means a company, other than an extranational institution, that accepts deposits that the Bank Insurance Fund insures to any extent under the provisions of the Federal Deposit Insurance Act, as amended, 12 U.S.C. 1811, et seq.

(2) “Bank holding company” means a company that is a bank holding company under the federal Bank Holding Company Act of 1956, as amended, 12 U.S.C. 1841, et seq.

(3) “Bank service corporation” means a corporation or a limited liability company that is organized to perform services authorized by ORS 708A.145 (Authorized services of bank service corporations) , all of the capital stock or membership interests of which one or more banking institutions or national banks own.

(4) “Banking institution” means an Oregon commercial bank, an Oregon trust company or an Oregon savings bank.

(5) “Company” means an entity that is a company under the federal Bank Holding Company Act of 1956, as amended, 12 U.S.C. 1841, et seq.

(6) “Extranational institution” means a corporation, unincorporated company, partnership or association of two or more persons organized under the laws of a nation other than the United States, or other than a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands, that engages directly in banking business.

(7) “Federal bank” means a national bank or another bank organized under the laws of the United States.

(8) “Financial holding company” means a company that engages in activities described for a financial holding company in section 103 of the federal Gramm-Leach-Bliley Act (P.L. 106-102).

(9) “Financial institution” means an insured institution, an extranational institution, a credit union as defined in ORS 723.006 (“Credit union” defined) , an out-of-state credit union under ORS 723.042 (Interstate credit unions) or a federal credit union.

(10) “Institution” means an Oregon commercial bank or an Oregon trust company.

(11) “Insured institution” means a company, the deposits of which are insured under the provisions of the Federal Deposit Insurance Act, as amended, 12 U.S.C. 1811, et seq.

(12) “National bank” means a bank that was organized under the provisions of the National Bank Act, as amended, 12 U.S.C. 21, et seq.

(13) “Non-Oregon institution” means:

(a) An out-of-state state bank that engages in banking business in Oregon;

(b) An out-of-state trust company that transacts trust business in Oregon; or

(c) An extranational institution that engages in banking business in Oregon.

(14) “Nonstock bank” means a bank that does not issue capital stock.

(15) “Oregon bank” means an Oregon stock bank or Oregon nonstock bank.

(16) “Oregon commercial bank” means an Oregon stock bank that was chartered under ORS chapter 707 as a bank other than a stock savings bank.

(17) “Oregon nonstock bank” means a nonstock bank or savings bank, the home state of which is Oregon.

(18) “Oregon operating institution” means:

(a) A bank that engages in banking business in this state;

(b) An extranational institution that engages in banking business in this state; or

(c) A trust company that transacts trust business in this state.

(19) “Oregon savings bank” or “savings bank” means an Oregon stock savings bank or an Oregon nonstock savings bank.

(20) “Oregon stock bank” means a stock bank, the home state of which is Oregon.

(21) “Oregon stock savings bank” means an Oregon stock bank that was initially chartered as or was converted to a stock savings bank under the Bank Act.

(22) “Oregon trust company” means a trust company that was organized under the provisions of ORS chapter 707.

(23) “Out-of-state bank” means an out-of-state state bank or an out-of-state federal bank.

(24) “Out-of-state bank holding company” means a bank holding company, the home state of which is not Oregon, and that is not the bank holding company of an Oregon stock bank or an in-state federal stock bank.

(25) “Out-of-state federal bank” means a federal bank, the home state of which is not Oregon.

(26) “Out-of-state financial holding company” means a financial holding company, the home state of which is not Oregon, and that is not the financial holding company of an Oregon stock bank or an in-state federal stock bank.

(27) “Out-of-state state bank” means a state bank, the home state of which is not Oregon.

(28) “Out-of-state trust company” means a trust company that was organized under the laws of another state.

(29) “State bank” means a bank that was organized under the laws of a state.

(30) “Stock bank” means a bank that issues capital stock.

(31) Intentionally left blank —Ed.

(a) “Trust company” means a company that is authorized under the provisions of ORS chapter 709 to transact trust business, including the trust department of a bank.

(b) “Trust company” does not include a corporation that a United States Bankruptcy Court appoints to serve as a bankruptcy trustee under Title 11, United States Code, during a time in which the corporation is acting as a bankruptcy trustee. [1997 c.631 §3; 2001 c.377 §29; 2011 c.263 §1; 2015 c.244 §6]

Source: Section 706.008 — Additional definitions for Bank Act , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 709.530 — OR Code / Title 53 / Chapter 709 / Section 709.530
709.530 Applicability of ORS 711.190, 711.197 and 711.199 to merging or converting trust company
Status: in_force

ORS 711.190 (Effect of merger or conversion of Oregon bank) , 711.197 (Conditions for resulting Oregon bank to conform with state law) and 711.199 (Valuation of assets on books of resulting Oregon bank) shall be applicable to a merging or converting Oregon trust company. [1997 c.631 §232]

Source: Section 709.530 — Applicability of ORS 711.190, 711.197 and 711.199 to merging or converting trust company , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 711.215 — OR Code / Title 53 / Chapter 711 / Section 711.215
711.215 Voluntary liquidation on approval of stockholders and director
Status: in_force

An institution may go into voluntary liquidation by vote of its stockholders owning at least two-thirds of its capital stock. The institution shall first obtain the written consent of the Director of the Department of Consumer and Business Services. Before consenting to the liquidation, the director may require a special examination of the condition and affairs of the institution. The institution shall pay the actual costs of the examination as provided in ORS 706.544 (Costs for special examination or other actions taken) . [Amended by 1973 c.797 §238; 1985 c.762 §43; 1985 c.786 §40; 1999 c.59 §220]

Source: Section 711.215 — Voluntary liquidation on approval of stockholders and director; costs of special examination , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.450 — OR Code / Title 53 / Chapter 708a / Section 708a.450
708A.450 Certified checks
Status: in_force

(1) An Oregon commercial bank shall certify a check only if the amount of the check actually stands to the credit of the drawer in collected funds on the books of the Oregon commercial bank.

(2) The amount of any certified check shall be immediately charged to the drawer’s account. [1997 c.631 §171]

Source: Section 708A.450 — Certified checks , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 713.220 — OR Code / Title 53 / Chapter 713 / Section 713.220
713.220 Application for withdrawal
Status: in_force

(1) An out-of-state bank or extranational institution that applies to withdraw from this state under ORS 713.210 (Withdrawal from state) must deliver the application to the Director of the Department of Consumer and Business Services. If the director finds that the application conforms to the provisions of this chapter, the director, when all fees and charges have been paid, shall file the application to withdraw and return the copy marked “Filed” to the sender.

(2) The authority of the out-of-state bank or extranational institution to conduct banking business in this state ceases when the application to withdraw is filed. [1989 c.324 §67; 1997 c.631 §302; 2011 c.263 §14]

Source: Section 713.220 — Application for withdrawal; effect of filing , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 706.730 — OR Code / Title 53 / Chapter 706 / Section 706.730
706.730 Depositor and debtor information confidential
Status: in_force

(1) The name of a person who is a depositor or debtor of a bank and the amount of the person’s deposit or debt are confidential as provided in ORS 705.137 (Information that is confidential or not subject to disclosure) . The Director of the Department of Consumer and Business Services or any other person employed by the Department of Consumer and Business Services shall not knowingly disclose the name of a person who is a depositor or debtor of a bank, or the amount of the person’s deposit or debt, except that the director or the employee may disclose such information as may be required under ORS 706.720 (Reports filed with director) (5) or as may be necessary in the performance of the director’s or employee’s official duty including any duty under ORS 295.018 (Increase in required collateral of qualified depository) .

(2) Subsection (1) of this section does not prohibit disclosure of the name of any debtor or the amount of the person’s debt included in reports that are filed under ORS 706.655 (Records of extensions of credit by banking institutions) , if the reports were filed by a banking institution that has been liquidated or is in the process of being liquidated under ORS 711.400 (Supervision of liquidation by circuit court) to 711.615 (Court filing fees) and if disclosure is otherwise allowed under ORS 706.720 (Reports filed with director) . [Amended by 1973 c.797 §45; 1975 c.515 §7; 1985 c.762 §§34,34a; 1985 c.786 §15; 1993 c.318 §9; 1997 c.631 §20; 2001 c.377 §23]

Source: Section 706.730 — Depositor and debtor information confidential; disclosure prohibited; exceptions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 714.295 — OR Code / Title 53 / Chapter 714 / Section 714.295
714.295 Lighting requirements for ATMs and night deposit facilities
Status: in_force

The operator, owner or other person responsible for the ATM or night deposit facility shall provide lighting during hours of darkness for an open and operating ATM or night deposit facility and any defined parking area, access area and the exterior of an enclosed ATM or night deposit facility installation according to the following standards:

(1) There shall be a minimum of 10 candlefoot power at the face of the ATM or night deposit facility and extending in an unobstructed direction outward five feet.

(2) There shall be a minimum of two candlefoot power within 50 feet in all unobstructed directions from the face of the ATM or night deposit facility. In the event the ATM or night deposit facility is located within 10 feet of the corner of the building and the ATM or night deposit facility is generally accessible from the adjacent side, there shall be minimum of two candlefoot power along the first 40 unobstructed feet of the adjacent side of the building.

(3) There shall be a minimum of two candlefoot power in that portion of the defined parking area within 60 feet of the ATM or night deposit facility. [1993 c.381 §13]

Source: Section 714.295 — Lighting requirements for ATMs and night deposit facilities , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 708a.535 — OR Code / Title 53 / Chapter 708a / Section 708a.535
708A.535 Granting security interests in institution assets
Status: in_force

(1) An institution may only grant security interests in its assets:

(a) To secure its indebtedness to a Federal Reserve Bank or Federal Home Loan Bank.

(b) To secure its borrowings from others with a maturity of 90 days or less, provided the value of the assets pledged shall not be more than 50 percent greater than the amount borrowed. If the value of the assets pledged is more than 25 percent greater than the amount borrowed or if the amount borrowed is greater than the stockholders’ equity of the bank, the transaction shall first be approved in writing by the Director of the Department of Consumer and Business Services.

(c) To secure its deposits that are not insured by the Federal Deposit Insurance Corporation provided:

(A) The value of aggregate assets pledged does not exceed 20 percent of its stockholders’ equity; and

(B) The prior written approval of the director is obtained.

(d) To secure public funds pursuant to ORS 295.001 (Definitions for ORS 295.001 to 295.108) to 295.108 (State Treasurer rules) , trust funds awaiting investment or distribution, or trust funds deposited with it by an institution.

(2) Notwithstanding any other provision of state law, when an institution grants a security interest in assets to secure public funds, the depositor of the public funds and any bailee of pledged securities or other assets shall be entitled to the status of a lien creditor as defined in ORS 79.0102 (UCC 9-102. Definitions and index of definitions) .

(3) An institution shall grant a security interest in its assets only when authorized by a general or specific prior resolution of its board of directors.

(4) As used in this section, “public funds” means deposits belonging to:

(a) The State of Oregon that may be deposited to the official credit of the State Treasurer, and funds that may be deposited in an official capacity by any state officer, board or commission.

(b) Any county within this state deposited to the official credit of the county treasurer, including the funds of any irrigation or drainage district organized under the laws of this state, or any school district within this state where funds of the school district are deposited with the county treasurer, and funds that may be deposited in an official capacity by any county officer.

(c) Any port, port commission, dock or dock commission within this state that may be deposited to the credit of the port, port commission, dock or dock commission, or the treasurer thereof.

(d) Any city within this state deposited to the official credit of the city treasurer, and funds that may be deposited in an official capacity by any officer of any municipal corporation.

(e) Any school district within this state.

(f) Any district organized under the laws of this state with the power to levy taxes.

(g) Any housing authority organized and operating pursuant to ORS 456.055 (Definitions for ORS 456.055 to 456.235) to 456.235 (Dissolution of housing authorities) .

(h) The United States and any of its agencies and instrumentalities to be deposited in the manner and under the rules prescribed by the United States Government. [1997 c.631 §185; 2001 c.445 §180; 2007 c.871 §31]

Source: Section 708A.535 — Granting security interests in institution assets , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.410 — OR Code / Title 53 / Chapter 707 / Section 707.410
707.410 Record of dividends declared
Status: in_force

At meetings of the board of directors where dividends are declared, a complete record of the proceedings and business transacted by the board of directors shall be entered in the minutes in the manner required by the Director of the Department of Consumer and Business Services. The minutes shall show that a detailed financial statement as of the last day of the month previous to the month during which the meeting is held was the basis of the decision of the board. [Amended by 1963 c.195 §4; 1973 c.797 §81]

Source: Section 707.410 — Record of dividends declared , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.430 — OR Code / Title 53 / Chapter 708a / Section 708a.430
708A.430 Disposition of deposit on death of depositor
Status: in_force

(1) On the death of a depositor of an insured institution, if the deposit is $25,000 or less, the insured institution, after receiving an affidavit as provided in subsection (3) of this section from a person that claims the deposit, or a declaration from the Department of Human Services or the Oregon Health Authority as provided in subsection (4) of this section, may pay the moneys on deposit to the credit of the deceased depositor, in the following order of priority, to:

(a) The surviving spouse at the surviving spouse’s demand at any time after the depositor’s death;

(b) The Oregon Health Authority or the Department of Human Services, if the authority or the department demands the payment not less than 46 days and no more than 75 days after the death of the depositor if the depositor does not have a surviving spouse and if the authority or department has a preferred claim under ORS 411.708 (Recovery of supplemental income program assistance from certain estates) , 411.795 (Claim against estate of deceased recipient of general assistance) or 416.350 (Recovery of medical assistance) ;

(c) The depositor’s surviving children 18 years of age or older, if the depositor does not have a surviving spouse and the authority and department do not have a claim;

(d) The depositor’s surviving parent, if the depositor does not have a surviving spouse or surviving child 18 years of age or older and if the authority and department do not have a claim;

(e) The depositor’s surviving brothers and sisters 18 years of age or older, if the depositor does not have a surviving spouse, surviving child 18 years of age or older or surviving parent and the authority and department do not have a claim; or

(f) Any other surviving heir of the depositor, if there is no surviving spouse, authority claim, department claim, surviving child 18 years of age or older, surviving parent or surviving brothers or sisters 18 years of age or older.

(2) Intentionally left blank —Ed.

(a) An insured institution may not pay moneys on deposit under subsection (1)(c) to (f) of this section earlier than 46 days after the death of the depositor.

(b) An insured institution may not pay moneys on deposit under subsection (1)(c) to (f) of this section earlier than 76 days after the death of the depositor unless the financial institution obtains prior verbal or written authorization from the Oregon Health Authority or its designated representative and the Department of Human Services or its designated representative.

(3) An affidavit or declaration submitted under this section must:

(a) State where and when the depositor died;

(b) State that the total deposits of the deceased depositor in all financial institutions in Oregon do not exceed $25,000;

(c) Show the relationship of the affiant or declarant to the deceased depositor; and

(d) Embody a promise to pay the expenses of last sickness, funeral expenses and just debts of the deceased depositor out of the deposit to the full extent of the deposit if necessary, in the order of priority prescribed by ORS 115.125 (Order of payment of expenses and claims) , and to distribute any remaining moneys to the persons that are entitled to the moneys by law.

(4) An insured institution shall accept from the Department of Human Services or the Oregon Health Authority, without additional requirements, a declaration under penalty of perjury meeting the requirements of subsection (3) of this section, provided that the declaration is submitted no earlier than 46 days after the death of the depositor and no later than 76 days after the death of the depositor. A declaration submitted under this section must be signed by the declarant and must include the following sentence immediately above the signature line of the declarant: “I hereby declare under penalty of perjury that I am authorized by the Department of Human Services or the Oregon Health Authority to make this declaration, that the above statement is true to the best of my knowledge and belief, and that I understand that it is subject to penalty for perjury.”

(5) In the event the depositor died intestate without known heirs, an estate administrator of the State Treasurer appointed under ORS 113.235 (Appointment of estate administrators by State Treasurer) is the affiant and shall receive the moneys for deposit into the Unclaimed Property and Estates Fund as escheated property and subject to claims under ORS 116.253 (Recovery of escheated property) .

(6) The insured institution shall determine the relationship of the affiant or declarant to the deceased depositor, but paying the moneys in good faith to the affiant or declarant discharges and releases the insured institution from any liability or responsibility for the transfer in the same manner and with the same effect as if the insured institution transferred, delivered or paid the moneys to a personal representative of the estate of the deceased depositor.

(7) A probate proceeding is not necessary to establish the right of the surviving spouse, Oregon Health Authority, Department of Human Services, surviving child, surviving parent, surviving brothers and sisters or an estate administrator of the State Treasurer to withdraw the deposits after filing the affidavit or declaration. If a personal representative is appointed in an estate where a withdrawal of deposits was made under this section, the person that withdraws the deposits shall account for the deposits to the personal representative.

(8) If an insured institution transfers moneys under subsection (1) of this section, the insured institution may require the transferee to furnish the insured institution with a written indemnity agreement that indemnifies the insured institution against loss for moneys the insured institution transferred to the extent of the amount of the deposit.

(9) Intentionally left blank —Ed.

(a) Moneys disbursed to the Department of Human Services under subsection (1) of this section may be made payable only to the department.

(b) Moneys disbursed to the Oregon Health Authority under subsection (1) of this section may be made payable only to the authority.

(10) This section is subject to the rights of other parties in the account under ORS 708A.455 (Definitions for ORS 708A.455 to 708A.515) to 708A.515 (Designation of agent for account) . [1997 c.631 §167; 2003 c.395 §20; 2005 c.381 §26; 2007 c.369 §1; 2009 c.595 §1113; 2011 c.720 §217; 2015 c.244 §49; 2017 c.51 §1; 2019 c.678 §69; 2021 c.424 §24; 2023 c.84 §1]

Source: Section 708A.430 — Disposition of deposit on death of depositor , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.225 — OR Code / Title 53 / Chapter 711 / Section 711.225
711.225 Report and transfer of unclaimed deposits
Status: in_force

Six months after the mailing of the written notice described in ORS 711.220 (Notice of voluntary liquidation) (3), the Oregon stock bank shall deliver a report and all deposits that remain unclaimed to the State Treasurer as unclaimed property under ORS 98.352 (Report of abandoned property) and deliver a copy of the report filed with the State Treasurer to the Director of the Department of Consumer and Business Services. [Amended by 1957 c.670 §33; 1959 c.138 §1; 1973 c.797 §241; 1993 c.694 §36; 1997 c.631 §240; 2019 c.678 §71; 2021 c.424 §21]

Source: Section 711.225 — Report and transfer of unclaimed deposits , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 709.120 — OR Code / Title 53 / Chapter 709 / Section 709.120
709.120 Substitution of deposit securities
Status: in_force

(1) The Director of the Department of Consumer and Business Services may require the immediate substitution of other securities when the director has reason to believe that the market value of securities which have been deposited under ORS 709.030 (Approval to transact trust business) have depreciated below the amount required under ORS 709.030 (Approval to transact trust business) . Substitution of securities with the director at the request of the depositing trust company may be permitted if approved by the director.

(2) All interest, income or dividends from all securities deposited with the director belong to the depositing trust company, and if the trust company is solvent, it may receive and retain the interest, income or dividends. [Amended by 1973 c.797 §190; 1997 c.631 §209]

Source: Section 709.120 — Substitution of deposit securities; income of securities deposited , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 706.980 — OR Code / Title 53 / Chapter 706 / Section 706.980
706.980 Civil penalties
Status: in_force

(1) Any person who violates any provision of the Bank Act, or any lawful rule or final order of the Director of the Department of Consumer and Business Services for which a civil penalty is not expressly provided, shall forfeit a civil penalty in an amount determined by the director of not more than $2,000 for each offense, or $10,000 in the aggregate for all such offenses within any three-month period. In the case of individuals, the civil penalty shall be not more than $1,000 for each offense or $5,000 in the aggregate for all such offenses within any three-month period. Each violation is a separate offense.

(2) Any person who violates ORS 706.610 (Examiners required to report insolvency of Oregon operating institution) and 706.725 (False statements, reports and book entries) shall forfeit a civil penalty in an amount determined by the director of not more than $5,000. In addition, a person violating ORS 706.610 (Examiners required to report insolvency of Oregon operating institution) shall forfeit the person’s office.

(3) Any person who violates ORS 706.730 (Depositor and debtor information confidential) shall forfeit a civil penalty, in an amount determined by the director, of not more than $1,000. In addition, the violator shall forfeit the violator’s office.

(4) All money forfeited under subsections (1), (2) and (3) of this section shall be paid to the State Treasurer to be deposited in the Consumer and Business Services Fund.

(5) In addition to any other civil penalty, any person who violates any provision of the Bank Act or any lawful rule or final order of the director may be required to 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 but not to exceed the amount by which the person profited in any transaction which violates any such provision, rule or order.

(6) The civil penalty may be recovered in an action brought thereon in the name of the State of Oregon in any court of appropriate jurisdiction or may be imposed as provided in ORS 183.745 (Civil penalty procedures) .

(7) In any court action with respect to a civil penalty, including judicial review under ORS 183.745 (Civil penalty procedures) , the court may review the penalty as to both liability and reasonableness of amount.

(8) If a civil penalty is assessed against a director, officer or employee of a banking institution or non-Oregon institution, unless the director provides otherwise, the director, officer or employee shall forfeit the penalty and the penalty shall not be paid either directly or indirectly by the banking institution or non-Oregon institution.

(9) The provisions of this section are in addition to and not in lieu of any other enforcement provisions contained in the Bank Act.

(10) If a civil penalty is assessed against a director, officer or employee of a non-Oregon institution, the director shall give notice of the assessment to the bank supervisory agency having primary responsibility for the supervision of the non-Oregon institution in the state or country in which it is chartered or otherwise organized. [1975 c.544 §8; 1985 c.786 §18; 1991 c.734 §94; 1993 c.318 §10; 1997 c.631 §25]

Source: Section 706.980 — Civil penalties , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 714.992 — OR Code / Title 53 / Chapter 714 / Section 714.992
714.992 Criminal penalty
Status: in_force

Violation knowingly of ORS 714.270 (Prohibitions on use of ATM for banking information) is a Class C felony. [1975 c.193 §10]

Source: Section 714.992 — Criminal penalty , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 713.190 — OR Code / Title 53 / Chapter 713 / Section 713.190
713.190 Service of process on agent
Status: in_force

(1) A registered agent appointed by an out-of-state bank or extranational institution authorized to transact business in this state must be an agent of the out-of-state bank or extranational institution upon which may be served process, notice or demand required or permitted by law to be served upon the out-of-state bank or extranational institution.

(2) The Director of the Department of Consumer and Business Services is an agent of an out-of-state bank or extranational institution upon which process, notice or demand may be served, if:

(a) The out-of-state bank or extranational institution is authorized to conduct banking business in this state, and:

(A) The out-of-state bank or extranational institution fails to appoint or maintain a registered agent in this state;

(B) The registered agent that the out-of-state bank or extranational institution appointed cannot with reasonable diligence be found at the registered office;

(C) The certificate of authority for the out-of-state bank or extranational institution has been suspended or revoked; or

(D) The out-of-state bank or extranational institution is an unincorporated company, partnership or association;

(b) The out-of-state bank or extranational institution is conducting banking business in this state without the authorization required under this chapter;

(c) The out-of-state bank or extranational institution has been authorized to conduct banking business in this state and has withdrawn and consented to service on the director as prescribed in this chapter; or

(d) The out-of-state bank or extranational institution has conducted banking business in this state without the authorization to do so, has ceased to conduct banking business and has become subject to service on the director as prescribed in this chapter.

(3) Intentionally left blank —Ed.

(a) Except as provided in subsection (4) of this section, service of process, notice or demand must be made on the director by:

(A) Serving the director or a clerk on duty in an office of the director with a copy of the process, notice or demand and papers required by law to be delivered in connection with the service, or by mailing to the director a copy of the process, notice or demand by certified or registered mail, and paying a $25 fee for each document being served; or

(B) Transmitting notice of the service from the person that initiates the proceedings to the director and transmitting, by certified or registered mail, a copy of the process, notice or demand and accompanying papers to the out-of-state bank or extranational institution being served:

(i) At the last-registered office of the out-of-state bank or extranational institution as shown by the records of the director; or

(ii) At an address that the person that initiates the proceedings knows or, on the basis of reasonable inquiry, has reason to believe is most likely to result in actual notice.

(b) The person that initiates the proceedings shall file with the appropriate court or other body, as part of the return of service, the return receipt of mailing and an affidavit that states that the person complied with this section.

(4) If the out-of-state bank or extranational institution that is being served with the process, notice or demand is not authorized to conduct banking business in this state and was not authorized to conduct banking business in this state at the time the transaction, event or occurrence upon which the suit or proceeding is based occurred, service must be made in accordance with subsection (3) of this section, except that the plaintiff or the plaintiff’s attorney shall immediately send a copy of the process, notice or demand by registered or certified mail to the principal office or place of business of the out-of-state bank or extranational institution, instead of the last-registered office of the out-of-state bank or extranational institution.

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

(6) This section does not limit or affect the right to serve process, notice or demand required or permitted by law to be served upon an out-of-state bank or extranational institution in a manner permitted by law, or enlarge the purposes for which service on the director is permitted where other provisions of law limit such purposes. [1989 c.324 §64; 1997 c.631 §299; 2011 c.263 §11]

Source: Section 713.190 — Service of process on agent; director as agent; fee; affidavit , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 714.280 — OR Code / Title 53 / Chapter 714 / Section 714.280
714.280 Legislative intent of ATM and night deposit facility law
Status: in_force

(1) It is the intent of the Legislative Assembly in enacting ORS 714.280 (Legislative intent of ATM and night deposit facility law) to 714.315 (Creation of rebuttable presumption) to enhance the safety of consumers using ATMs and night deposit facilities in Oregon without discouraging the siting of ATMs and night deposit facilities in locations convenient to consumers’ homes and workplaces. Since decisions concerning safety at ATMs and night deposit facilities are inherently subjective, the Legislative Assembly intends to establish as the standard of care applicable to operators of ATMs and night deposit facilities in connection with user safety, the compliance with the objective standards and information requirements of ORS 714.280 (Legislative intent of ATM and night deposit facility law) to 714.315 (Creation of rebuttable presumption) . The Legislative Assembly further recognizes the need for uniformity as to the establishment of safety standards for ATMs and night deposit facilities and intends with ORS 714.280 (Legislative intent of ATM and night deposit facility law) to 714.315 (Creation of rebuttable presumption) to supersede and preempt any rule, regulation, code or ordinance of any city, county, municipality or local agency regarding customer safety at ATMs and night deposit facilities in this state.

(2) It is not the intent of the Legislative Assembly in enacting ORS 714.280 (Legislative intent of ATM and night deposit facility law) to 714.315 (Creation of rebuttable presumption) to impose a duty to relocate or modify ATMs or night deposit facilities upon the occurrence of any particular events or circumstances, but rather to establish a means for the evaluation of all ATMs and night deposit facilities as provided in ORS 714.210 (Use of ATMs) to 714.992 (Criminal penalty) . [1993 c.381 §§9,11]

Source: Section 714.280 — Legislative intent of ATM and night deposit facility law , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 707.762 — OR Code / Title 53 / Chapter 707 / Section 707.762
707.762 Insurance
Status: in_force

A banking institution may purchase and maintain insurance on behalf of an individual against liability asserted against or incurred by the individual who is or was a director, officer, employee or agent of the banking institution or who, while a director, officer, employee or agent of the banking institution, is or was serving at the request of the banking institution as a director, officer, partner, trustee, employee or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. The banking institution may purchase and maintain the insurance even if the banking institution has no power to indemnify the individual against the same liability under ORS 707.746 (Authority to indemnify directors) or 707.748 (Mandatory indemnification) . [1989 c.324 §24; 1997 c.631 §113]

Source: Section 707.762 — Insurance , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 706.620 — OR Code / Title 53 / Chapter 706 / Section 706.620
706.620 Records
Status: in_force

The Director of the Department of Consumer and Business Services shall keep proper books showing the acts, matters and things by the director done under the provisions of the Bank Act. [Amended by 1973 c.797 §34]

Source: Section 706.620 — Records , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 711.090 — OR Code / Title 53 / Chapter 711 / Section 711.090
711.090 Conversion of Oregon bank or Oregon trust company to corporation or limited liability company
Status: in_force

(1) An Oregon bank or Oregon trust company organized as a corporation under ORS chapter 707 or 709 may be converted to a limited liability company. An Oregon bank or Oregon trust company organized as a limited liability company may be converted to a corporation. The conversion shall be accomplished by the approval of a plan of conversion under ORS 711.095 (Approval of plan of conversion) and the filing of articles of conversion under ORS 711.100 (Articles of conversion) .

(2) The plan of conversion shall set forth:

(a) The name of the Oregon bank or Oregon trust company prior to the conversion;

(b) The name of the Oregon bank or Oregon trust company after the conversion;

(c) A summary of the material terms and conditions of the conversion;

(d) The manner and basis of converting the ownership interests of each owner into the ownership interests or obligations of the converted Oregon bank or Oregon trust company, or into cash or other property, in whole or in part; and

(e) Any additional information required by the Director of the Department of Consumer and Business Services.

(3) The plan of conversion may set forth other provisions relating to the conversion. [2005 c.134 §6]

Source: Section 711.090 — Conversion of Oregon bank or Oregon trust company to corporation or limited liability company , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 711.140 — OR Code / Title 53 / Chapter 711 / Section 711.140
711.140 Approval of merger or share exchange involving Oregon stock bank by stockholders
Status: in_force

(1) To be effective, a merger or share exchange involving an Oregon stock bank shall be approved by the stockholders of each Oregon stock bank that is a party to a merger or Oregon stock bank to be acquired through a share exchange by a vote of two-thirds of the outstanding stock of each class of voting shares at a meeting called to consider the merger or share exchange.

(2) Approval of the merger or share exchange by the stockholders constitutes the adoption of any amendments to the articles set forth in the plan of merger or plan of share exchange.

(3) If the plan of merger or plan of share exchange adopts any provision enumerated in ORS 707.248 (Shareholders authorized to vote on amendment to articles of incorporation) affecting the rights of nonvoting stockholders of an Oregon stock bank, such nonvoting stockholders may vote as a class on the merger or share exchange.

(4) Each Oregon stock bank that is a party to a merger or is to be acquired through a share exchange shall give notice of the meeting to vote on the proposed merger or share exchange to each stockholder of record entitled to vote on the plan of merger or plan of share exchange at the address of the stockholder in the books of the Oregon stock bank at least 15 days before the date of the meeting unless the notice is waived in writing by all the holders of shares entitled to vote on the plan of merger or plan of share exchange. Unless, pursuant to ORS 711.170 (Sale of assets and transfer of liabilities by Oregon bank) (8) or other applicable law, the shareholders of the Oregon stock bank are not entitled to receive fair value of their shares, the notice shall be accompanied by a copy of ORS 711.175 (Stockholder’s right to dissent to merger, share exchange, transfer of assets or liabilities or conversion) , 711.180 (Rights of stockholder dissenting to merger, share exchange, transfer of assets or liabilities or conversion) and 711.185 (Stockholder withdrawal of demand for payment for shares made under ORS 711.180) , and shall explain that the sections establish the rights of dissenting stockholders. The notice shall also include any other information that the Director of the Department of Consumer and Business Services may require. [1997 c.631 §273]

Source: Section 711.140 — Approval of merger or share exchange involving Oregon stock bank by stockholders , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 707.080 — OR Code / Title 53 / Chapter 707 / Section 707.080
707.080 Investigation and ruling on application
Status: in_force

(1) When an application to organize has been submitted, the Director of the Department of Consumer and Business Services shall determine whether:

(a) The purposes of the proposed banking institution as stated in the proposed banking institution’s articles of incorporation and the application are consistent with the Bank Act;

(b) The character, financial responsibility and general fitness of the persons named in the application are such as to command the confidence of the community in which the proposed banking institution is to be located and to warrant the belief that the business of the proposed corporation will be honestly and efficiently conducted;

(c) The proposed directors and officers are competent to manage successfully a banking institution;

(d) The suggested capitalization is adequate for the proposed banking institution’s anticipated development and growth within a reasonable period of time; and

(e) There is reasonable assurance of sufficient volume of business for the proposed banking institution to be economically viable.

(2) If the director is satisfied that the applicant meets the standards prescribed in subsection (1) of this section the director shall note the approval and the date on each copy of the application. If the director is not satisfied or believes that the public interest will be endangered the director shall note the disapproval of the director and the date on each copy of the application.

(3) The director shall acknowledge receipt of an application and shall notify the applicants of approval or disapproval of the application. The director shall file the original of an approved application in the office of the director.

(4) The director shall act to approve or disapprove an application within 60 days from receipt of the application, unless a majority of the applicants and the director agree to extend the time an additional 30 days.

(5) The director may grant conditional approval of any application and require the applicants to make additional showing or changes in the proposed banking institution as the director considers advisable.

(6) The applicants may appeal the decision of the director to any court of appropriate jurisdiction. [Amended by 1973 c.797 §55; 1975 c.544 §8a; 1997 c.631 §40]

Source: Section 707.080 — Investigation and ruling on application; conditional approval; appeal , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 707.258 — OR Code / Title 53 / Chapter 707 / Section 707.258
707.258 Terms of class of shares or series within class determined by board of directors
Status: in_force

(1) If the articles of incorporation so provide, the board of directors may determine, in whole or part, the preferences, limitations and relative rights, within the limits set forth in ORS 707.110 (Execution and submission of articles of incorporation) , of any class of shares before the issuance of any shares of that class or of one or more series within a class before the issuance of any shares of that series.

(2) Each series of a class must be given a distinguishing designation.

(3) All shares of a series must have preferences, limitations and relative rights identical with those of other shares of the same series and, except to the extent otherwise provided in the description of the series, of those of other series of the same class.

(4) Before issuing any shares of a class or series created under this section, the institution or Oregon stock savings bank must deliver to the Director of the Department of Consumer and Business Services for filing, articles of amendment which are effective without shareholder action that set forth:

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

(b) The text of the amendment determining the terms of the class or series of shares;

(c) The date it was adopted; and

(d) A statement that the amendment was duly adopted by the board of directors. [1989 c.324 §28; 1997 c.631 §66]

Source: Section 707.258 — Terms of class of shares or series within class determined by board of directors , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.780 — OR Code / Title 53 / Chapter 716 / Section 716.780
716.780 Crediting portion of net earnings to guaranty fund
Status: in_force

(1) If at the close of any dividend period the guaranty fund of an Oregon nonstock bank is impaired or is less than 10 percent of the amount due to depositors, a sum not less than five percent of the net earnings for the period shall be deducted from the net earnings and credited to its guaranty fund, after declaration of dividends, if the deduction will not compel the Oregon nonstock bank to reduce its dividends to depositors below the rate of one percent per annum.

(2) If the guaranty fund accumulated from earnings equals or exceeds 10 percent of the amount due depositors and the net earnings for a dividend period are sufficient, the minimum dividend shall be four percent, unless a smaller percentage is authorized by rule promulgated by the Director of the Department of Consumer and Business Services. [Amended by 1973 c.797 §386; 1975 c.544 §48; 1997 c.631 §353]

Source: Section 716.780 — Crediting portion of net earnings to guaranty fund , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.210 — OR Code / Title 53 / Chapter 707 / Section 707.210
707.210 Stock issuance after obtaining charter
Status: in_force

(1) Except as provided in subsection (2) of this section, a certificate that represents shares of the stock of an institution or Oregon stock savings bank must:

(a) Be signed by two officers of the institution or Oregon stock savings bank designated in the bylaws, and may be sealed with the seal of the institution or Oregon stock savings bank or a facsimile of the seal. The signatures of the officers upon a certificate may be facsimiles if the certificate is manually signed on behalf of a transfer agent or registrar other than the institution or Oregon stock savings bank or an employee of the institution or Oregon stock savings bank. If an officer that has signed or whose facsimile signature has been placed upon the certificate is no longer an officer before the certificate is issued, the institution or Oregon stock savings bank may issue the certificate with the same effect as if the former officer were an officer at the date on which the institution or Oregon stock savings bank issued the certificate.

(b) State upon the face or back of the certificate the designations, preferences, limitations and relative rights of the shares of each class authorized to be issued, if the institution or Oregon stock savings bank may issue shares of more than one class, or state that the institution or Oregon stock savings bank will provide any shareholder upon request and without charge a full statement of the designations, preferences, limitations and relative rights of each class of shares.

(c) State the variations in the relative rights and preferences between the shares of each series so far as the board of directors has fixed and determined the rights and preferences in a series, if the institution or Oregon stock savings bank may issue a class in series, and state the authority of the board of directors to fix and determine the relative rights and preferences of subsequent series.

(d) State that the institution or Oregon stock savings bank is organized under the laws of this state.

(e) State the name of the person to whom the institution or Oregon stock savings bank issued the certificate.

(f) State the number and class of shares, and the designation of the series, if any, that the certificate represents.

(2) In lieu of issuing certificates that represent shares in accordance with subsection (1) of this section, the board of directors of an institution or Oregon stock savings bank may authorize the institution or Oregon stock savings bank to issue some or all of the shares of any or all classes or series without certificates. The authorization does not affect shares already represented by certificates until the shares are surrendered to the institution or Oregon stock savings bank. Within a reasonable time after the issuance or transfer of shares without certificates, the institution or Oregon stock savings bank shall send the shareholder a written statement of the information required on certificates under subsection (1) of this section.

(3) A share may not be issued until the share is fully paid.

(4) At the request of any holder of two or more certificates of the stock of any institution or Oregon stock savings bank organized under the laws of this state, the institution or Oregon stock savings bank shall, upon the surrender of the certificates, issue to the holder of the stock one certificate, or a statement pursuant to subsection (2) of this section, for all shares of stock of any one class in the institution or Oregon stock savings bank that the stockholder owns if the number of shares that the stockholder owns in the particular class equals or exceeds 100. [Amended by 1959 c.108 §1; 1965 c.189 §1; 1973 c.797 §67; 1987 c.197 §2; 1989 c.324 §6; 1995 c.131 §1; 1997 c.631 §55; 2015 c.244 §22]

Source: Section 707.210 — Stock issuance after obtaining charter; form of stock certificate; issuance of stock without certificate , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 714.315 — OR Code / Title 53 / Chapter 714 / Section 714.315
714.315 Creation of rebuttable presumption
Status: in_force

Compliance with ORS 714.280 (Legislative intent of ATM and night deposit facility law) to 714.300 (Issuance of safety information to customers of ATMs and night deposit facilities) shall create a rebuttable presumption that the operator of the ATM or night deposit facility in question has provided adequate measures for the safety of users of the ATM or night deposit facility. [1993 c.381 §17]

Source: Section 714.315 — Creation of rebuttable presumption , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 708a.660 — OR Code / Title 53 / Chapter 708a / Section 708a.660
708A.660 Savings promotion raffles
Status: in_force

(1) As used in this section:

(a) “Financial institution” has the definition given that term in ORS 706.008 (Additional definitions for Bank Act) .

(b) “Savings promotion raffle” means a contest in which a financial institution, or an agent of the financial institution, offers a chance for an individual member or depositor to win a designated prize by depositing in the individual member’s or depositor’s share account, deposit certificate account or other savings account a specific amount of money during a specific period of time.

(2) Subject to subsection (3) of this section, a financial institution may conduct a savings promotion raffle within this state.

(3) A financial institution may not, in conducting a savings promotion raffle:

(a) Design, engage in, promote or conduct the savings promotion raffle in connection with selling or promoting a consumer product or service other than a share account, deposit certificate account or other savings account that the financial institution offers.

(b) Predetermine a winner, or other outcome, in the savings promotion raffle.

(c) Permit a director, officer, employee or agent of the financial institution to participate in the savings promotion raffle.

(d) Arbitrarily remove, disqualify, disallow or reject an application to enter into or attempt to participate in the savings promotion raffle.

(e) Fail to award the prize the financial institution offers in the savings promotion raffle.

(f) Print, publish, circulate or display by means of any medium an advertising or other statement concerning the savings promotion raffle that is false, deceptive or misleading.

(g) Require an entry fee, a payment or a promise to pay any valuable consideration as a condition of participating in or winning a prize from a savings promotion raffle, except that a financial institution may require an individual member or depositor to deposit a minimum amount to open a share account, deposit certificate account or other savings account and deposit a specific amount or maintain a specific balance for a specific time to participate in the savings promotion raffle and may charge any fee or amount to administer or maintain the individual member’s or depositor’s share account, deposit certificate account or other savings account that the financial institution ordinarily and customarily charges an individual member or depositor who does not participate in the savings promotion raffle.

(4) A financial institution, in conducting and administering a savings promotion raffle, shall ensure that every individual member or depositor who participates in the savings promotion raffle has an equal opportunity to submit or receive entries for the savings promotion raffle.

(5) A financial institution’s violation of subsection (3) or (4) of this section is subject to a civil penalty as provided in ORS 706.980 (Civil penalties) .

(6) This section applies uniformly throughout this state and within all political subdivisions and municipalities of this state. A political subdivision of this state or a municipality within this state may not enact or adopt an ordinance, resolution, regulation, rule or other law to limit or restrict a financial institution’s operation of a savings promotion raffle within this state.

(7) This section does not repeal or modify existing state laws with respect to gambling, except that a savings promotion raffle is not subject to existing state laws with respect to gambling.

(8) The Director of the Department of Consumer and Business Services may adopt rules to implement the provisions of this section. [2015 c.137 §2]

Source: Section 708A.660 — Savings promotion raffles; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 717.220 — OR Code / Title 53 / Chapter 717 / Section 717.220
717.220 License application
Status: in_force

(1) Intentionally left blank —Ed.

(a) A person shall apply for a license under ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) in writing on a form and in a format the Director of the Department of Consumer and Business Services prescribes by rule.

(b) The director, by rule, may conform the practices, procedures and information that the Department of Consumer and Business Services uses to issue and renew licenses for conducting a money transmission business to the requirements of the Nationwide Multistate Licensing System.

(2) For all applicants, the application must contain:

(a) The applicant’s exact name and principal address, any fictitious name, assumed business name or trade name the applicant uses to conduct business and the location of the applicant’s business records;

(b) The history of the applicant’s material litigation and criminal convictions for the five-year period before the date of the application;

(c) A history of operations and a description of the business activities in which the applicant seeks to engage in this state;

(d) A list of the applicant’s proposed authorized delegates in the state, if any, at the time the applicant files the license application;

(e) A sample authorized delegate contract, if applicable;

(f) A sample form of payment instrument, if applicable;

(g) The address of each location at which the applicant and the applicant’s authorized delegates, if any, propose to conduct a money transmission business in this state;

(h) The name and address of the clearing bank or banks on which the applicant’s payment instruments will be drawn or through which the payment instruments will be payable;

(i) A business plan; and

(j) Fingerprints for each individual who has an ownership interest in the applicant and for each individual with supervisory responsibility over the applicant’s activities, with which the director may conduct a criminal records check that the director may process through the Nationwide Multistate Licensing System.

(3) If the applicant is a corporation, the application must contain all of these items:

(a) The date of the applicant’s incorporation and state of incorporation.

(b) A certificate of good standing from the state in which the applicant was incorporated.

(c) A description of the corporate structure of the applicant, including the identity of any parent or subsidiary of the applicant, and the disclosure of whether any parent or subsidiary is publicly traded on any stock exchange.

(d) The name, business and residence address and employment history for the past five years of the applicant’s executive officers and the officers or managers who will be in charge of the applicant’s money transmission business.

(e) The name, business and residence address of the applicant’s controlling shareholders and the controlling shareholders’ employment histories for the five-year period before the date of the application.

(f) The history of material litigation and criminal convictions for all of the applicant’s executive officers and controlling shareholders in the five-year period before the date of the application.

(g) A copy of the applicant’s most recent audited financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder equity and statement of changes in financial position and, if available, a copy of the applicant’s audited financial statements for the immediately preceding two-year period. If the applicant is a wholly owned subsidiary of another corporation, the applicant may submit either the parent corporation’s consolidated audited financial statements for the current year and for the immediately preceding two-year period, or the parent corporation’s Form 10K reports filed with the United States Securities and Exchange Commission for the prior three years, in lieu of the applicant’s financial statements. If the applicant is a wholly owned subsidiary of a corporation with a principal place of business outside the United States, the applicant may submit similar documentation filed with the parent corporation’s foreign regulator to satisfy the requirements of this paragraph.

(h) Copies of all filings, if any, the applicant made with the United States Securities and Exchange Commission, or with a similar regulator in a country other than the United States, within the year preceding the date of the application.

(4) If the applicant is not a corporation, the application must contain:

(a) The name, business and residence address, personal financial statement and employment history for the past five years of each principal of the applicant and the name, business and residence address, and employment history for the past five years of any other person that will be in charge of the applicant’s money transmission business;

(b) The history of material litigation and criminal convictions in the five-year period before the date of the application for each individual who has any ownership interest in the applicant and each individual who exercises supervisory responsibility with respect to the applicant’s activities; and

(c) Copies of the applicant’s audited financial statements, including balance sheet, statement of income or loss, and statement of changes in financial position, for the current year and, if available, a copy of the applicant’s audited financial statements for the immediately preceding two-year period.

(5) The director, for good cause shown or in order to conform the department’s licensing and license renewal program to the requirements of the Nationwide Multistate Licensing System, may waive any requirement of this section with respect to any license application or may allow an applicant to submit substituted information in a license application in lieu of the information required under subsection (2) of this section. [1999 c.571 §6; 2005 c.21 §12; 2015 c.118 §8; 2019 c.106 §4]

Source: Section 717.220 — License application; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 709.280 — OR Code / Title 53 / Chapter 709 / Section 709.280
709.280 Loans to directors, officers, employees or affiliates
Status: in_force

(1) A trust company shall not make any loan to any director, officer or employee of the trust company or to any affiliate or any director, officer or employee of an affiliate from its trust funds, and shall not permit any director, officer, employee or affiliate to become indebted to it in any way out of its trust funds, unless specifically authorized to do so by the terms of the trust.

(2) An officer, director or employee of a trust company shall not knowingly violate any provision of this section, or aid or abet any other person in a violation.

(3) This section shall not prevent the maintenance by a trust company of time or demand deposits of its trust funds in an affiliate that is a bank or extranational institution, provided that the bank or extranational institution complies with the requirements of ORS 709.220 (Handling of funds awaiting investment or distribution) pertaining to obtaining and setting aside bonds, surety bonds and other securities in an amount equal to the portion of the trust funds not insured by the Federal Deposit Insurance Corporation. [Amended by 1973 c.797 §203; 1975 c.544 §29e; 1983 c.296 §5b; 1997 c.631 §218]

Source: Section 709.280 — Loans to directors, officers, employees or affiliates , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 711.145 — OR Code / Title 53 / Chapter 711 / Section 711.145
711.145 Effective date of merger or share exchange involving Oregon stock bank
Status: in_force

(1) In a merger involving an Oregon stock bank:

(a) If the resulting insured stock institution is an Oregon stock 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 of the approved plan of merger, copies of the resolutions of the stockholders of each party to the merger, if shareholder approval is required under law applicable to such merging insured stock institution, and evidence satisfactory to the director that all federal regulatory requirements, if any, have been satisfied. The charters of each Oregon stock bank that is a party to a merger, unless it is the resulting insured stock institution, shall terminate when the merger becomes effective.

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

(c) If the resulting insured stock institution is an Oregon stock bank, the director shall promptly issue to the Oregon stock bank a certificate of merger specifying the names of the parties to the merger, the name of the resulting Oregon stock bank and the date on which the merger became effective as prescribed in 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 stock institutions is held.

(2) In a share exchange involving an Oregon stock bank:

(a) If the stock of an Oregon stock bank is to be acquired by a company organized under the laws of this state, the share exchange shall, unless a later date is specified in the plan of share exchange, become effective upon the filing with the director of the approved plan of share exchange, copies of the resolutions of the stockholders of the acquired Oregon stock bank, and evidence satisfactory to the director that all federal regulatory requirements, if any, have been satisfied.

(b) If the stock of the Oregon stock bank is to be acquired by a company organized under the laws of a state other than Oregon, the effective date and time of the share exchange shall be determined under the laws governing such company. The share exchange will be effective as to the acquired Oregon stock bank if copies of the resolutions of the directors and shareholders of the Oregon stock bank approving the share exchange and evidence of the effective date and time of the share exchange are filed with the director. [1997 c.631 §274; 2005 c.22 §484]

Source: Section 711.145 — Effective date of merger or share exchange involving Oregon stock bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.335 — OR Code / Title 53 / Chapter 708a / Section 708a.335
708A.335 Obligations secured by documents covering readily marketable staples
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 and acquire other obligations of a person secured by documents of title covering readily marketable staples, provided the obligation does not exceed:

(a) 15 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 85 percent of the market value of the staples.

(b) 20 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 80 percent of the market value of the staples.

(c) 25 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 75 percent of the market value of the staples.

(d) 35 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 70 percent of the market value of the staples.

(e) 40 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 65 percent of the market value of the staples.

(2) If it is customary to insure the staples mentioned in subsection (1) of this section, the staples shall be fully covered by insurance.

(3) This section does not apply to obligations of a person secured by the same staples for more than 10 months.

(4) Staples, for purposes of this section, in addition to being readily marketable, must be either:

(a) Nonperishable; or

(b) Perishable, but frozen, freeze-dried, irradiated or refrigerated for the purpose of protecting the staple against deterioration. [1997 c.631 §152]

Source: Section 708A.335 — Obligations secured by documents covering readily marketable staples , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 717.275 — OR Code / Title 53 / Chapter 717 / Section 717.275
717.275 Requirements for authorized delegates
Status: in_force

(1) An authorized delegate shall not make any fraudulent or false statement or misrepresentation to a licensee or to the Director of the Department of Consumer and Business Services.

(2) All money transmission activities conducted by authorized delegates shall be strictly in accordance with the licensee’s written procedures provided to the authorized delegate.

(3) An authorized delegate shall remit all money owing to the licensee in accordance with the terms of the contract between the licensee and the authorized delegate. The failure of an authorized delegate to remit all money owing to a licensee within the time prescribed shall result in liability of the authorized delegate to the licensee for three times the licensee’s actual damages.

(4) An authorized delegate is considered to consent to the director’s inspection, with or without prior notice to the licensee or authorized delegate, of the books and records of the authorized delegate when the director has a reasonable basis to believe that the licensee or authorized delegate is in noncompliance with ORS 717.200 (Definitions) to 717.320 (Short title) , 717.900 (Civil penalties) and 717.905 (Criminal penalties) .

(5) An authorized delegate is under a duty to act only as authorized under the contract with the licensee. An authorized delegate that exceeds the delegate’s authority is subject to cancellation of the delegate’s contract and further disciplinary action by the director.

(6) All funds, not including fees, received by an authorized delegate from the sale or delivery of a payment instrument issued by a licensee, or received by an authorized delegate for transmission, shall constitute trust funds owned by and belonging to the licensee during the period beginning when the funds are received by the authorized delegate and ending when the funds or an equivalent amount are remitted by the authorized delegate to the licensee. If an authorized delegate commingles any such funds with any other funds or property owned or controlled by the authorized delegate, all commingled proceeds and other property shall be impressed with a trust in favor of the licensee in an amount equal to the amount of the proceeds due the licensee.

(7) An authorized delegate shall report to the licensee the theft or loss of payment instruments within 24 hours from the time the authorized delegate first knows of the theft or loss. [1999 c.571 §17]

Source: Section 717.275 — Requirements for authorized delegates , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 707.150 — OR Code / Title 53 / Chapter 707 / Section 707.150
707.150 Refusal of authority to organize
Status: in_force

Notwithstanding the provisions of ORS chapter 183, the Director of the Department of Consumer and Business Services may, without prior hearing or opportunity therefor, refuse to grant authority to organize a banking institution. In case authority to organize is refused by the director, the applicants may within 30 days after the refusal appeal the decision to any court of appropriate jurisdiction. [Amended by 1971 c.734 §172; 1973 c.797 §62; 1975 c.544 §8b; 1997 c.631 §49]

Source: Section 707.150 — Refusal of authority to organize; appeal , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 713.016 — OR Code / Title 53 / Chapter 713 / Section 713.016
713.016 Requirements for conducting banking business
Status: in_force

(1) An out-of-state bank may not conduct banking business in this state unless the Federal Deposit Insurance Corporation insures the out-of-state bank’s insurable deposits and the out-of-state bank has received a certificate of authority to conduct banking business pursuant to 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) .

(2) An extranational institution may not conduct banking business in this state unless the extranational institution complies with the requirements of ORS 713.025 (Assets requirement for extranational institutions) . This subsection and ORS 713.025 (Assets requirement for extranational institutions) do not apply to an extranational institution that has a branch office in this state and was lawfully conducting banking business on December 31, 1966. [1973 c.797 §309; 1975 c.725 §10; 1997 c.631 §286; 2011 c.263 §3]

Source: Section 713.016 — Requirements for conducting banking business; deposit insurance , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 711.490 — OR Code / Title 53 / Chapter 711 / Section 711.490
711.490 Capital stock requirements of institution purchasing assets and assuming liabilities of insolvent institution
Status: in_force

If the assets of an insolvent institution are sold to a new institution and the new institution assumes any or all of the deposit liabilities of the insolvent institution with the approval of the Director of the Department of Consumer and Business Services and the supervising court, the new institution may be organized with a capital stock equal to the capital stock of the insolvent institution without regard to the capital requirements of ORS 707.050 (Initial paid-in capital requirement) . [Amended by 1973 c.797 §264]

Source: Section 711.490 — Capital stock requirements of institution purchasing assets and assuming liabilities of insolvent institution , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 707.644 — OR Code / Title 53 / Chapter 707 / Section 707.644
707.644 Committees of board of directors
Status: in_force

(1) If provided by the articles of incorporation or the bylaws, the board of directors, by resolution adopted by a majority of all the directors in office when the action is taken, may designate from among its members one or more committees. To the extent provided in the resolution or in the articles of incorporation or the bylaws of the banking institution, the committees shall have and may exercise all the authority of the board of directors in the management of the banking institution.

(2) No committee shall have the authority of the board of directors in reference to:

(a) Amending the articles of incorporation;

(b) Approving dividends or other distributions to shareholders of an institution or Oregon stock savings bank;

(c) Filling vacancies on the board of directors or on any of its committees;

(d) Approving the reacquisition of shares of the institution or Oregon stock savings bank;

(e) Adopting a plan of merger or consolidation;

(f) Recommending to the shareholders the sale, lease, exchange, mortgage, pledge or other disposition of all or substantially all the property and assets of the institution or Oregon stock savings bank other than in the usual and regular course of its business;

(g) Recommending to the shareholders a voluntary dissolution of the institution or Oregon stock savings bank or a revocation thereof;

(h) Amending the bylaws of the banking institution; or

(i) Approving the issuance or sale or contract for sale of shares or determining the designation and relative rights, preferences and limitations of a class or series of shares of the institution or Oregon stock savings bank.

(3) Notwithstanding subsection (2) of this section, the board of directors may authorize a committee to take action described in subsection (2)(i) of this section pursuant to a stock option or other stock compensation plan, or by approving the maximum number of shares to be issued and delegating to the committee the authority to determine all or any part of the terms of the issuance or sale or contract of sale and the determination of the designation and relative rights, preferences and limitations of the class or series of shares.

(4) The designation of committees and the delegation thereto of authority shall not operate to relieve the board of directors, or any member thereof, of any responsibility imposed upon the board of directors or such member by law. [1989 c.324 §50; 1997 c.631 §90]

Source: Section 707.644 — Committees of board of directors; limitations , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 711.620 — OR Code / Title 53 / Chapter 711 / Section 711.620
711.620 Suspending or restricting payment of liabilities
Status: in_force

(1) The Director of the Department of Consumer and Business Services may order an Oregon stock bank to suspend or restrict the payment of its liabilities to depositors and other creditors except as provided in 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) , if the action is necessary for the protection of the depositors and other creditors of the Oregon stock bank and is in the public interest.

(2) The order of the director is effective upon receipt by the Oregon stock bank of written notice thereof signed by the director and shall continue in effect until released or modified by the written order of the director. The suspension and restriction shall not exceed a period of 90 days, but may be extended for further periods not to exceed 90 days each upon the written order of the director. [1973 c.797 §293; 1997 c.631 §253]

Source: Section 711.620 — Suspending or restricting payment of liabilities; duration , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.435 — OR Code / Title 53 / Chapter 708a / Section 708a.435
708A.435 Adverse claim to deposit
Status: in_force

(1) An insured institution shall recognize an adverse claim to a deposit the insured institution holds only if the adverse claimant gives notice to the insured institution of the adverse claim and:

(a) Procures a restraining order, injunction or other appropriate process against the insured institution in an action wherein the person to whose credit the deposit stands is made a party and served with summons; or

(b) Delivers to the insured institution in a form, and with sureties acceptable to the insured institution, a bond or an irrevocable letter of credit that another insured institution has issued to indemnify the insured institution from any liability, damage and expenses that may arise from paying the adverse claim or dishonoring the check or other order of the person to whose credit the deposit stands.

(2) This section does not apply if the person in whose name the account is carried is a fiduciary for the adverse claimant, and the affidavit of the adverse claimant states the facts constituting the fiduciary relationship and the facts showing reasonable cause for the claimant’s belief that the fiduciary is about to misappropriate the deposit.

(3) An insured institution may, at the insured institution’s option, interplead a deposit that is subject to an adverse claim. [1997 c.631 §168; 2015 c.244 §50]

Source: Section 708A.435 — Adverse claim to deposit; notice; restraining order or other process; indemnity bond or letter of credit , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 709.400 — OR Code / Title 53 / Chapter 709 / Section 709.400
709.400 Order to start court action
Status: in_force

(1) Upon the filing of the petition under ORS 709.390 (Discontinuance of trust business) , the court shall make an order requiring all persons having claims against the deposits to start action in the circuit court hearing the petition of the Director of the Department of Consumer and Business Services within six months after the date of the order. Any claim not filed within the six-month period is barred. The petition or the order need not give the names of any beneficiary or the nature of the trusts protected by the deposit.

(2) A copy of the order shall be published in a newspaper designated by the court, having a general circulation in the county of the principal place of business of the trust company at least once a week for as many consecutive weeks as the court orders, but not less than four weeks nor more than 12 weeks. If a newspaper is not published in the county, the copy of the order shall be published in a newspaper of general circulation in the State of Oregon designated by the court. Proof of publication shall be made in the same manner as proof of publication of summons is made and the proof shall be filed with the clerk of the court.

(3) The filing of the petition, under ORS 709.390 (Discontinuance of trust business) , and the making and entering of the order and the publishing of a copy of the order under this section gives the court exclusive jurisdiction of deposited securities and of all parties having an interest in or claim upon the securities.

(4) A court shall require the director to mail, by certified mail with return receipt, postage prepaid, a copy of the order to each living trustor of all private trusts in which the trust company is trustee and which have not been closed or to the directly participating beneficiaries of all private trusts in which there is no living trustor. The notice shall be mailed to the last-known address of each trustor or participating beneficiary as shown by the records of the trust company. Proof of mailing shall be in the form required by the court. Failure to mail the notice or the nonreceipt of the notice by any trustor or participating beneficiary shall not affect the jurisdiction of the court or invalidate any order or judgment made in the proceedings.

(5) The appearance of minors or other incompetents by guardians ad litem or otherwise is not necessary.

(6) The provisions of subsections (1) to (4) of this section shall apply only to trust companies that are organized under the laws of this state and to trust companies that are the trust departments of banks having their principal places of business in this state. If a petition is filed under ORS 709.390 (Discontinuance of trust business) (2), the proceedings shall be governed by the laws of the state or country in which the petition is filed. A copy of any court order requiring persons having claims against the deposits made by the trust company under ORS 709.030 (Approval to transact trust business) to bring their claims within a specified period of time shall be published in a newspaper of general circulation in the State of Oregon. The director shall mail, by certified mail with return receipt, postage prepaid, a copy of the order to each trustor living in this state of a private trust in which the trust company is trustee and which has not been closed, and to the directly participating beneficiaries who reside in this state of any private trust in which there is no trustor living in Oregon. The notice shall be mailed to the last known address of each such trustor or participating beneficiary as shown by the records of the trust company. Proof of mailing shall be in the form required by the court. Failure to mail the notice or the nonreceipt of notice by any trustor or participating beneficiary shall not affect the jurisdiction of the court or invalidate any order or judgment made in the proceedings. [Amended by 1973 c.797 §210; 1979 c.284 §196; 1991 c.249 §65; 1997 c.631 §222]

Source: Section 709.400 — Order to start court action; publication of order; jurisdiction over securities; notice to trustor; applicability of state laws , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 716.441 — OR Code / Title 53 / Chapter 716 / Section 716.441
716.441 Investments in equipment trust certificates
Status: in_force

(1) A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in equipment trust certificates that are, at the time of purchase, rated in one of the three 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 bonds.

(2) Not more than 15 percent of the assets of a savings bank may be invested under this section and not more than three percent of its assets may be invested in any one corporation. [1959 c.185 §11 (enacted in lieu of 716.440); 1973 c.797 §368]

Source: Section 716.441 — Investments in equipment trust certificates , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 713.025 — OR Code / Title 53 / Chapter 713 / Section 713.025
713.025 Assets requirement for extranational institutions
Status: in_force

(1) Except as provided in subsection (4) of this section and ORS 713.300 (Out-of-state bank, extranational institution or foreign association) , every extranational institution with one or more offices in this state shall deposit with the Director of the Department of Consumer and Business Services in an office located in this state of another bank approved by the director under an agreement satisfactory to the director for the protection of depositors of the extranational institution, free and clear of all other liens and encumbrances, assets in an amount set forth in subsection (2) of this section of the following types:

(a) Cash;

(b) Interest-bearing bonds, notes or obligations of the United States, including those of its agencies and instrumentalities, or bonds, notes or obligations for which the faith of the United States is pledged for the payment of the principal and interest;

(c) Bonds or other obligations of the State of Oregon, any county of this state or any incorporated city, town or school or port district of this state having a population of not less than 2,000 as shown by the last federal census, or bonds of any other state, any county, incorporated city, town or school or port district therein having a population of not less than 25,000, as shown by the last federal census, if:

(A) The bonds or obligations are issued in compliance with the constitution and laws of the applicable state;

(B) The bonds or obligations are general obligations of the state, city, town or school or port district issuing the bonds; and

(C) There has been no default in payment of either principal or interest on any of the general obligations of the state, county, incorporated city, town or school or port district for a period of five years preceding the date of the deposit;

(d) A surety bond issued by a surety company authorized to transact business in this state and in a form approved by the director, under which the principal and surety indemnify the depositors and creditors of the extranational institution against loss due to nonpayment by the extranational institution, including by reason of the failure of the extranational institution;

(e) An irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008 (Additional definitions for Bank Act) , satisfactory to the director; or

(f) Any combination of cash, securities complying with subsection (1)(b) and (c) of this section, surety bonds complying with subsection (1)(d) of this section, and letters of credit complying with subsection (1)(e) of this section.

(2) The market value of the assets deposited pursuant to subsection (1) of this section shall be not less than:

(a) Five percent of the total liabilities of the office including acceptances, but excluding accrued expenses and amounts due to and other liabilities of offices, branches, agencies and subsidiaries of the extranational institution; or

(b) Such other amount as the director may determine to be necessary for the protection of depositors and the public interest.

(3) The director shall determine the value of the assets maintained for the purposes of this section and shall value marketable securities according to accepted principles of accounting.

(4) The deposit requirements of subsection (1) of this section shall not apply to an office of an extranational institution that is an insured branch as defined in section 3(s) of the Federal Deposit Insurance Act (12 U.S.C. 1813(s)). [1975 c.725 §3; 1997 c.631 §290; 1999 c.30 §5]

Source: Section 713.025 — Assets requirement for extranational institutions; type; amount , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 716.050 — OR Code / Title 53 / Chapter 716 / Section 716.050
716.050 Approval of articles
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 savings bank begins. [Amended by 1973 c.797 §350]

Source: Section 716.050 — Approval of articles; certificate of incorporation; filing , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 706.578 — OR Code / Title 53 / Chapter 706 / Section 706.578
706.578 Establishment of loan production office
Status: in_force

(1) An insured institution or extranational institution shall file a notice with the Director of the Department of Consumer and Business Services and pay a nonrefundable fee of $100 within 30 days after establishing a loan production office in this state. The notice must include:

(a) The name of the insured institution or extranational institution 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 insured institution or extranational institution who is responsible for loan production office activities.

(2) An insured institution or extranational institution shall file a notice under subsection (1) of this section for each loan production office the insured institution or extranational institution establishes in this state.

(3) An insured institution or extranational institution shall amend a notice the insured institution or extranational institution filed under subsection (1) of this section if a material change occurs in the information in the original notice. An amendment to a notice is not subject to a fee.

(4) An insured institution or extranational institution shall notify the director if the insured institution or extranational institution closes a loan production office in this state, specifying the date of closure and describing how the insured institution or extranational institution will dispose of any records the insured institution or extranational institution maintained at the loan production office. A notice under this subsection is not subject to a fee. [2015 c.244 §4]

Source: Section 706.578 — Establishment of loan production office; notice; fee , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 708a.270 — OR Code / Title 53 / Chapter 708a / Section 708a.270
708A.270 Real estate loans
Status: in_force

(1) With respect to any loans secured primarily by real estate, an Oregon commercial bank shall maintain a file containing such appraisal, evidence of merchantable title and insurance as may be required by the Director of the Department of Consumer and Business Services.

(2) All loans made by an Oregon commercial bank to finance the construction of buildings and the improvements appurtenant thereto shall be subject to such requirements as the director may determine. [1997 c.631 §142]

Source: Section 708A.270 — Real estate loans , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 706.570 — OR Code / Title 53 / Chapter 706 / Section 706.570
706.570 Requirement that banking institution keep books and accounts
Status: in_force

(1) A banking institution that is engaged in the business of banking in this state shall keep books and accounts of the banking institution’s activities, in such a manner as to enable the Director of the Department of Consumer and Business Services to readily ascertain the true condition of the banking institution.

(2) If the director determines in an examination of a banking institution that the banking institution does not keep books and accounts in such a manner as to enable the director to readily ascertain the true condition of the banking institution, the director may require any officer of the banking institution to open and keep books or accounts as the director prescribes.

(3) If a banking institution fails to open and keep the books and accounts that the director prescribes, the director shall send written notice to the banking institution of intent to assess and collect the penalty under this subsection. For each day the banking institution fails to open and keep the books and accounts after receiving notice from the director, the banking institution is subject to a penalty of $1,000. The banking institution shall pay the penalty when the banking institution receives a notice and demand for the amount of the penalty from the director. If the banking institution delays or refuses to pay the penalty upon the director’s demand, the Attorney General shall bring an action in the director’s name to recover the penalty. All sums collected for penalties imposed by this section must be paid into the Consumer and Business Services Fund created by ORS 705.145 (Consumer and Business Services Fund) . [Amended by 1973 c.797 §30; 1985 c.762 §31; 1987 c.373 §50; 1997 c.631 §8; 2015 c.244 §9]

Source: Section 706.570 — Requirement that banking institution keep books and accounts; civil penalty , https://www.­oregonlegislature.­gov/bills_laws/ors/ors706.­html (accessed May 26, 2025).
ORS § 714.049 — OR Code / Title 53 / Chapter 714 / Section 714.049
714.049 Investigating notices
Status: in_force

The Director of the Department of Consumer and Business Services shall investigate each notice that a banking institution files under ORS 714.025 (Notice required to establish branches in Oregon or outside of Oregon) . With respect to notices for branches that the banking institution will locate outside this state, the director shall promptly provide the local bank supervisory agency or regulator with a copy of the notice and an opportunity to comment on the notice. The director is not bound by the local bank supervisory agency’s or regulator’s comments. [1997 c.631 §316; 2015 c.244 §88c]

Source: Section 714.049 — Investigating notices; soliciting comments , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 709.410 — OR Code / Title 53 / Chapter 709 / Section 709.410
709.410 Termination of right to do trust business
Status: in_force

The filing by the Director of the Department of Consumer and Business Services of the petition provided for in ORS 709.390 (Discontinuance of trust business) terminates the right of the trust company affected thereby to do a trust business in this state, except as may be necessary to wind up then existing trusts. [Amended by 1973 c.797 §211; 1997 c.631 §223]

Source: Section 709.410 — Termination of right to do trust business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 716.800 — OR Code / Title 53 / Chapter 716 / Section 716.800
716.800 Repayment of contributions made to expense fund and guaranty fund
Status: in_force

(1) Contributions made by the incorporators or directors to the expense fund may be repaid pro rata to the contributors from that portion of the guaranty fund created from earnings if the payments will not reduce the guaranty fund below 10 percent of the total amount due depositors. If the Oregon nonstock bank liquidates before the contributions to the expense fund have been repaid, any contributions to the expense fund remaining after the payment of the expenses of liquidation and the payment to depositors in full may be repaid to the contributors pro rata.

(2) When the contributions of the incorporators or directors to the expense fund have been returned to the contributors, the contributions made to the guaranty fund by incorporators or directors may be returned to them pro rata from that portion of the guaranty fund created from the earnings of the Oregon nonstock bank, if the repayments will not reduce the earned portion of the guaranty fund below 10 percent of the amount due depositors. If the Oregon nonstock bank liquidates before the contributions to the guaranty fund have been repaid, any portion of the contributions not needed for the payment of the expenses of liquidation, the payment of depositors in full and the repayment of contributions to the expense fund may be repaid to the contributors pro rata.

(3) The board of directors may create a fund to be known as the guarantor’s reimbursement fund. One percent of the net earnings at the close of any dividend period may be paid in the guarantor’s reimbursement fund if it can be done without reducing the dividend rate below one percent per annum. The guarantor’s reimbursement fund may accumulate until it is equal to the amount contributed by the incorporators to the guaranty and expense funds, at which time the fund shall be used to repay the incorporators the amounts contributed by them to the guaranty and expense funds, if that portion of the guaranty fund created from earnings amounts to at least $15,000. [Amended by 1973 c.797 §388; 1997 c.631 §355]

Source: Section 716.800 — Repayment of contributions made to expense fund and guaranty fund , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.710 — OR Code / Title 53 / Chapter 707 / Section 707.710
707.710 Removal of officer or director
Status: in_force

(1) For any reason specified in subsection (2) of this section, the Director of the Department of Consumer and Business Services by order may direct the board of directors of a banking institution to remove a director or officer of the banking institution.

(2) The director may issue an order of removal under subsection (1) of this section:

(a) For any reason stated in ORS 707.145 (Grounds for refusing authority to organize) ; or

(b) If the person who is the subject of the order has refused otherwise to comply with any written requirements or instructions of the director.

(3) An order of removal under this section shall be in writing and may be issued without a prior administrative hearing. A copy of the order shall be served personally or by certified mail upon the person to be removed.

(4) Upon receipt of an order of removal the director or officer shall be suspended from office.

(5) The person suspended from office may appeal the order of the director as a contested case under ORS 183.415 (Notice of right to hearing) to 183.500 (Appeals) .

(6) Upon expiration of the period in which to file an appeal under ORS 183.415 (Notice of right to hearing) to 183.500 (Appeals) or when the order of the director is affirmed on appeal, the board of directors by resolution shall remove the person from office and declare the office vacant.

(7) Any officer or director of a banking institution who is suspended or removed under this section shall not act in any official capacity, conduct any of the business of the banking institution or have access to the books, records or assets of the banking institution as an officer, director or stockholder, without receiving permission from the director. [Amended by 1973 c.797 §93; 1983 c.296 §5; 1985 c.762 §§38,38a; 1985 c.786 §33; 1997 c.631 §101]

Source: Section 707.710 — Removal of officer or director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 709.290 — OR Code / Title 53 / Chapter 709 / Section 709.290
709.290 Closing of trust unduly delayed
Status: in_force

If, as a result of an examination, the Director of the Department of Consumer and Business Services finds that the closing of any trust by a trust company has been unreasonably delayed, the director may initiate proceedings in a court of competent jurisdiction to require the trust company to perform its duties in closing the trust. [Amended by 1973 c.797 §204]

Source: Section 709.290 — Closing of trust unduly delayed , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 709.600 — OR Code / Title 53 / Chapter 709 / Section 709.600
709.600 Regulation of trust business by corporations formed prior to adoption of Bank Act
Status: in_force

(1) Trust business done by corporations created prior to the adoption of the Bank Act (General Laws 1925, chapter 207) shall be subject to regulation by the Director of the Department of Consumer and Business Services and such corporations engaged in trust business are subject to the provisions, including the filing and fee requirements, of ORS chapters 706 to 716.

(2) If a corporation subject to subsection (1) of this section also carries on business other than a trust business, the Corporation Commissioner may retain a copy of the articles of incorporation and other filings. As provided in ORS 60.957 (Application to existing domestic corporation) , such corporations also shall continue to be subject to the provisions, including the filing and fee requirements, of ORS chapter 60. [Formerly 709.500]

Source: Section 709.600 — Regulation of trust business by corporations formed prior to adoption of Bank Act; regulation of other business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 709.525 — OR Code / Title 53 / Chapter 709 / Section 709.525
709.525 Merger or acquisition
Status: in_force

An Oregon trust company may merge with or have its outstanding shares acquired by any other trust company if the merger or acquisition of shares is permitted by the laws of the jurisdiction having supervisory authority over the resulting trust company. An Oregon trust company that merges with or engages in a share exchange with another trust company shall follow the procedures set forth in ORS 711.130 (Approval of plan of merger or share exchange involving Oregon stock bank) to 711.145 (Effective date of merger or share exchange involving Oregon stock bank) . [1997 c.631 §231]

Source: Section 709.525 — Merger or acquisition; procedures , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 707.700 — OR Code / Title 53 / Chapter 707 / Section 707.700
707.700 Selection and control of officers by directors
Status: in_force

(1) After a charter has been issued to a banking institution, the board of directors shall elect a chief executive officer who shall also be a director, a president who also may be the chief executive officer, at least one vice president, and a cashier or secretary, and may appoint such other officers and employees as the board of directors considers necessary or appropriate.

(2) The board of directors may define the duties, fix the compensation, dismiss, fill vacancies and require bonds or irrevocable letters of credit for the faithful performance of the duties of the employees and officers of the banking institution.

(3) In the event the board dismisses an officer, the officer shall no longer serve as a director.

(4) Any officer or agent elected or appointed by the board of directors may be removed by the board of directors whenever, in its judgment, the best interests of the banking institution will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Election or appointment of an officer or agent shall not of itself create contract rights. [Amended by 1973 c.797 §92; 1983 c.37 §6; 1985 c.786 §32; 1989 c.324 §41; 1991 c.331 §110; 1997 c.631 §99]

Source: Section 707.700 — Selection and control of officers by directors; effect of removal of officers , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 711.485 — OR Code / Title 53 / Chapter 711 / Section 711.485
711.485 Borrowing funds to pay closed institution expenditures
Status: in_force

The Director of the Department of Consumer and Business Services may, after the director has obtained the consent of the supervising court, borrow funds from any source available to be used for distribution among depositors or other creditors of the institution in the process of liquidation, or for expense of liquidation or preservation of the assets of the institution. To secure the loan, the director may pledge, on terms fixed by the lender and agreed to by the director, all or any portion of the assets of the institution. The director is not personally obligated to pay the loans. [Amended by 1973 c.797 §263]

Source: Section 711.485 — Borrowing funds to pay closed institution expenditures , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.680 — OR Code / Title 53 / Chapter 708a / Section 708a.680
708A.680 Contractual rights not restricted
Status: in_force

The authority granted to financial institutions under ORS 708A.675 (Authority of financial institutions in cases of suspected financial exploitation) is in addition to and not in lieu of any right a financial institution may have under the financial institution’s deposit or other contract with the financial institution’s customer. Nothing in ORS 708A.675 (Authority of financial institutions in cases of suspected financial exploitation) :

(1) Restricts the rights of a financial institution to take or refuse to take any action pursuant to the financial institution’s deposit or other contract with the financial institution’s customer; or

(2) Requires a financial institution to comply with any provision of ORS 708A.675 (Authority of financial institutions in cases of suspected financial exploitation) when acting pursuant to the provisions of the financial institution’s deposit or other contract with the financial institution’s customer. [2017 c.290 §3]

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

Source: Section 708A.680 — Contractual rights not restricted , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 707.690 — OR Code / Title 53 / Chapter 707 / Section 707.690
707.690 Filling director vacancy
Status: in_force

Subject to ORS 707.705 (Investigation of new director, president and chief executive officer) , any vacancy in the board of directors may be filled by the remaining directors for the unexpired term at a regular meeting after the vacancy occurs or as otherwise provided in the bylaws of the institution or Oregon stock savings bank. [Amended by 1985 c.786 §29; 1997 c.631 §98; 2015 c.244 §32]

Source: Section 707.690 — Filling director vacancy , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.600 — OR Code / Title 53 / Chapter 708a / Section 708a.600
708A.600 Charging off losses
Status: in_force

An institution shall charge off all debts:

(1) On which interest is past due and unpaid for 12 months, unless the debt is fully secured and in process of collection;

(2) That an examiner has classified as a loss; or

(3) Upon the instruction of the Director of the Department of Consumer and Business Services. [1997 c.631 §195; 2015 c.244 §72]

Source: Section 708A.600 — Charging off losses , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 716.586 — OR Code / Title 53 / Chapter 716 / Section 716.586
716.586 Credit card transactions
Status: in_force

(1) A savings bank may issue and honor credit cards for the purpose of making loans to one or more persons. The loans shall be made by the means determined by the board of investment of the savings bank including, but not limited to, the means of paying to or for the account of a party the amount of a sales slip, voucher or other evidence of a transaction in which goods or services are sold or cash advanced to the party in reliance on a credit card issued by the savings bank.

(2) The savings bank may advance cash to a person holding a credit card issued by the savings bank or any other person who, directly or indirectly, has agreed to pay to or for the account of the savings bank the amount of cash advanced by it in reliance on credit cards issued by the other person.

(3) Credit cards, loans, advances and documents used in connection with the use of credit cards shall be in the form and upon the terms and conditions prescribed by the board of investment of the savings bank, including, but not limited to, terms and conditions as to revocation, rates of interest and other charges, maturity dates and security, if any.

(4) A savings bank may become a stockholder, member of, or otherwise affiliated with, an organization that, in the opinion of the board of directors of the savings bank, will enable the savings bank to exercise fully the powers granted under this section. [1973 c.797 §375a]

Source: Section 716.586 — Credit card transactions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 708a.330 — OR Code / Title 53 / Chapter 708a / Section 708a.330
708A.330 Bankers’ acceptances of other financial institutions
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 acquire obligations of a person without regard to amount in the form of bankers’ acceptances of other financial institutions of the kind described in section 13 of the Federal Reserve Act. [1997 c.631 §151]

Source: Section 708A.330 — Bankers’ acceptances of other financial institutions , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.545 — OR Code / Title 53 / Chapter 711 / Section 711.545
711.545 Objection to approval of claims
Status: in_force

(1) If a creditor of the closed institution or any interested party objects to the action of the Director of the Department of Consumer and Business Services in allowing in whole or in part any claim filed with the director, the creditor shall, within 10 days after the list of allowed claims has been filed with the clerk of the supervising court, make and file with the clerk of the supervising court a verified statement of the objections of the creditor. The statement shall state the facts and reasons upon which the objections are based and include a notice that the objecting party appeals to the supervising court. Objections to the approval of any claim may be made at any time but, if not filed within the 10-day period, the objections shall apply only to that portion of the claim which has not yet been paid.

(2) A copy of the objections and notice shall be served upon the director and upon the creditor whose claim is challenged. Proof of the service shall be filed in the supervising court with the statement of objections.

(3) The statement of objection filed in the supervising court shall also have attached to it a copy, certified as correct by the director, of the claim so approved and the approval of the claim indorsed thereon by the director. [Amended by 1973 c.797 §275]

Source: Section 711.545 — Objection to approval of claims , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 717.230 — OR Code / Title 53 / Chapter 717 / Section 717.230
717.230 Application fee
Status: in_force

At the time an applicant submits an application, the applicant shall pay to the Director of the Department of Consumer and Business Services a fee of $1,000 for a license term that expires at the end of the calendar year in which the applicant submitted the application. [1999 c.571 §8; 2015 c.118 §9]

Source: Section 717.230 — Application fee , https://www.­oregonlegislature.­gov/bills_laws/ors/ors717.­html (accessed May 26, 2025).
ORS § 709.140 — OR Code / Title 53 / Chapter 709 / Section 709.140
709.140 Return of deposit
Status: in_force

The State of Oregon is liable for the return of any funds or securities deposited in accordance with ORS 709.030 (Approval to transact trust business) . [Amended by 1973 c.797 §192]

Source: Section 709.140 — Return of deposit; liability of state , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 713.230 — OR Code / Title 53 / Chapter 713 / Section 713.230
713.230 Revocation of certificate of authority
Status: in_force

A certificate of authority for an out-of-state bank or extranational institution to conduct banking business in this state may be revoked if the out-of-state bank or extranational institution:

(1) Failed to file a report or pay a fee required under the Bank Act;

(2) Failed to appoint or maintain a registered agent or office in this state as required by ORS 713.170 (Registered office or agent) or failed to maintain authority to transact business as required by ORS 713.140 (Contents of application for certificate of authority) (3);

(3) Changed the out-of-state bank’s or extranational institution’s registered office or registered agent and failed to submit a statement of the change to the Director of the Department of Consumer and Business Services as required by ORS 713.200 (Delivery of documents filed with Secretary of State) (1);

(4) Misrepresented or allowed a misrepresentation of a material matter in an application, report, affidavit or other document that the out-of-state bank or extranational institution submitted pursuant to the Bank Act;

(5) Failed to submit for filing an application to amend the out-of-state bank’s or extranational institution’s certificate of authority as required by ORS 713.200 (Delivery of documents filed with Secretary of State) (2); or

(6) Failed to submit for filing a certificate of merger or consolidation as required by ORS 713.260 (Merger or consolidation) . [1989 c.324 §68; 1997 c.631 §303; 2011 c.263 §15]

Source: Section 713.230 — Revocation of certificate of authority , https://www.­oregonlegislature.­gov/bills_laws/ors/ors713.­html (accessed May 26, 2025).
ORS § 709.300 — OR Code / Title 53 / Chapter 709 / Section 709.300
709.300 Transaction of trust business by national bank
Status: in_force

(1) A national bank authorized to conduct a trust business that has complied with the applicable provisions of this chapter may transact trust business in all respects, as provided by applicable laws of the United States and rules and regulations promulgated pursuant thereto. All acts provided in the Bank Act to be performed by the State Treasurer, the Director of the Department of Consumer and Business Services or other public officials for or in respect to trust companies, shall be performed for national banks equally with trust companies.

(2) Every national bank that is authorized to transact trust business and that has qualified by making the deposit of securities required under ORS 709.030 (Approval to transact trust business) , may:

(a) Act or be appointed by any court to act in any fiduciary capacity to the same extent as any trust company;

(b) Use the word “trust” in its corporate name; and

(c) Advertise its authority to act in fiduciary capacities. [Amended by 1963 c.55 §1; 1965 c.170 §1; 1973 c.797 §205; 1997 c.631 §219]

Source: Section 709.300 — Transaction of trust business by national bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors709.­html (accessed May 26, 2025).
ORS § 707.170 — OR Code / Title 53 / Chapter 707 / Section 707.170
707.170 Effective date of charter
Status: in_force

(1) A charter shall specify the date on which it becomes effective, which shall not be more than 90 days after the date of issuance of the charter, unless an extension of time is granted by the Director of the Department of Consumer and Business Services.

(2) A banking institution shall commence business on the effective date specified in its charter. If a banking institution fails to commence business on the effective date specified in the charter or according to any extension of time granted by the director it ceases to exist and its articles of incorporation and charter are void. [Amended by 1973 c.797 §64; 1997 c.631 §52]

Source: Section 707.170 — Effective date of charter; commencement of business; effect of failure to commence business , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 716.140 — OR Code / Title 53 / Chapter 716 / Section 716.140
716.140 Resolution for amending articles
Status: in_force

The articles of incorporation of an Oregon nonstock bank may be amended by a resolution adopted by a majority of the directors of the Oregon nonstock bank. Any number of amendments may be submitted to the directors and voted upon by them at one meeting. [1979 c.88 §19; 1997 c.631 §342]

Source: Section 716.140 — Resolution for amending articles , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 716.592 — OR Code / Title 53 / Chapter 716 / Section 716.592
716.592 Pledging assets to secure public funds
Status: in_force

A savings bank may pledge its assets to secure public funds as provided under ORS chapter 295. For the purposes of this section, “public funds” has the meaning given that term in ORS 295.001 (Definitions for ORS 295.001 to 295.108) . [1973 c.288 §7; 1999 c.311 §6; 2007 c.71 §232]

Source: Section 716.592 — Pledging assets to secure public funds , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 714.035 — OR Code / Title 53 / Chapter 714 / Section 714.035
714.035 Mobile banking facilities
Status: in_force

A banking institution may, in accordance with ORS 714.025 (Notice required to establish branches in Oregon or outside of Oregon) , establish one or more mobile facilities to engage in the banking business or to transact trust business. Mobile banking facilities may operate within this state and in other states. [1997 c.631 §314; 2015 c.244 §88b]

Source: Section 714.035 — Mobile banking facilities , https://www.­oregonlegislature.­gov/bills_laws/ors/ors714.­html (accessed May 26, 2025).
ORS § 715.075 — OR Code / Title 53 / Chapter 715 / Section 715.075
715.075 Authority of financial holding company or bank holding company to acquire corporation licensed as insurance producer
Status: in_force

A financial holding company or a bank holding company 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 financial holding company or the bank holding company, 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 financial holding company or the bank holding company to hold stock in the corporation if the condition of the financial holding company or the bank holding company or of any bank owned by it substantially deteriorates or if the insurance activities are adversely affecting the financial holding company or the bank holding company or any bank owned by it.

(3) For each calendar year during which a financial holding company or a bank holding company 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 financial holding company or the bank holding company 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 institution 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 §4; 1989 c.331 §30; 1989 c.701 §66; 1997 c.831 §3; 2001 c.191 §54; 2001 c.377 §35; 2003 c.363 §9; 2003 c.364 §60a; 2005 c.194 §2]

Source: Section 715.075 — Authority of financial holding company or bank holding company to acquire corporation licensed as insurance producer; rules , https://www.­oregonlegislature.­gov/bills_laws/ors/ors715.­html (accessed May 26, 2025).
ORS § 711.130 — OR Code / Title 53 / Chapter 711 / Section 711.130
711.130 Approval of plan of merger or share exchange involving Oregon stock bank
Status: in_force

(1) For each Oregon stock bank that is a party to a merger or that proposes to have its stock acquired through a share exchange, the plan of merger or plan of share exchange shall be approved by a majority of the entire board of directors of each such Oregon stock bank. If an insured stock institution, other than an Oregon stock bank, is a party to a merger with an Oregon stock bank, the plan of merger shall be approved by such merging insured stock institution’s board of directors to the extent required under the laws applicable to such insured stock institution.

(2) A plan of merger shall contain at least:

(a) The name of each party to the merger and the name of the resulting insured stock institution;

(b) The terms and conditions of the proposed merger;

(c) The manner and basis of converting the shares of each merging insured stock institution into shares, obligations or other securities of the resulting insured stock institution or a holding company of the resulting insured stock institution or, in whole or part, into cash or other property;

(d) A statement of any changes in the articles of incorporation of the resulting insured stock institution to be put into effect by the plan of merger; and

(e) Any other provisions with respect to the proposed merger that the Director of the Department of Consumer and Business Services determines to be necessary.

(3) A plan of share exchange shall contain at least:

(a) The name of the Oregon stock bank whose shares will be acquired and the name of the acquiring company;

(b) The terms and conditions of the proposed share exchange;

(c) The manner and basis of the exchange of shares of the Oregon stock bank for shares, obligations or other securities of the acquiring company or of any other company or for cash or for other property in full or in part;

(d) A statement of any changes in the articles of incorporation of the acquired Oregon stock bank to be put into effect by the plan of share exchange; and

(e) Any other provision with respect to the proposed share exchange that the director determines to be necessary.

(4) After approval by the board of directors, the plan of merger or plan of share exchange shall be submitted to the director for approval, with a nonrefundable application fee of $3,000. Certified copies of the authorizing resolutions of each board of directors, if any such resolutions are required under applicable law, showing approval of the plan of merger or plan of share exchange in accordance with subsection (1) of this section shall also be submitted. For each Oregon stock bank that is a party to a merger or is to be acquired through a share exchange, the certified copies of the board resolutions shall also show that the resolutions were approved by a majority of the entire board. [1997 c.631 §271]

Source: Section 711.130 — Approval of plan of merger or share exchange involving Oregon stock bank; contents of plan; fee , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 716.060 — OR Code / Title 53 / Chapter 716 / Section 716.060
716.060 Maintenance of guaranty fund or liquidation account
Status: in_force

(1) The guaranty fund or liquidation account consists of payments in cash made by the incorporators and of all sums credited to the guaranty fund as required by ORS 716.780 (Crediting portion of net earnings to guaranty fund) or federal law.

(2) If a financial institution that is converting to another type of financial institution has a guaranty fund or liquidation account, the Oregon nonstock bank that results from the conversion must maintain the guaranty fund or liquidation account and may use the guaranty fund or liquidation account only for the purposes for which the financial institution used the guaranty fund or liquidation account before the conversion. [Amended by 1973 c.797 §352; 1997 c.631 §336; 2011 c.263 §22]

Source: Section 716.060 — Maintenance of guaranty fund or liquidation account , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.720 — OR Code / Title 53 / Chapter 707 / Section 707.720
707.720 Violation of law or omission of duty by officer or director
Status: in_force

An officer or director of a banking institution shall not, as an officer or director, willfully do any act which is expressly forbidden by the Bank Act or omit to perform any duty imposed upon the officer or director by the Bank Act. [Amended by 1973 c.797 §94; 1997 c.631 §102]

Source: Section 707.720 — Violation of law or omission of duty by officer or director , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).
ORS § 708a.155 — OR Code / Title 53 / Chapter 708a / Section 708a.155
708A.155 Investment in foreign banks
Status: in_force

(1) If the Director of the Department of Consumer and Business Services approves, and subject to rules the director adopts in accordance with 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) , an institution may invest not more than 10 percent, in the aggregate, of the stockholders’ equity in the institution in the stock of banks or corporations that are chartered or incorporated under the laws of the United States or another state. The banks or corporations in which the institution may invest under this section must be principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions, including the stock of one or more banks or corporations chartered or incorporated under section 25(a) of the Federal Reserve Act, as approved December 24, 1919.

(2) An institution shall apply to the director for permission to exercise the powers established in subsection (1) of this section. The application shall specify the name, the stockholders’ equity in the institution filing the application, the powers for which the institution is applying and the place or places where the banking operations are to be carried on.

(3) The director may approve the application, in whole or in part, or may disapprove the application if the director believes that granting approval is inexpedient. The director may increase or decrease the number of places where the banking operations may be carried on.

(4) Before an institution may purchase stock in any bank or corporation described in subsection (1) of this section, the bank or corporation shall agree to restrict the bank’s or corporation’s operations or conduct the bank’s or corporation’s business in the manner and under the limitations prescribed by the director for the places in which the business is to be conducted.

(5) If the director determines that a bank or corporation is not complying with the limitations the director prescribed, the director may investigate the matter. If the investigation shows that the bank or corporation, or the institution holding stock in the bank or corporation, has not complied with the limitations, the director may require the institution to dispose of stock holdings in the bank or corporation.

(6) An institution that invests in the capital stock of banks or corporations as provided in subsection (1) of this section shall furnish information concerning the condition of the banks or corporations to the director upon demand. The director may order special examinations of the banks or corporations. [1997 c.631 §126; 1999 c.59 §216; 2015 c.244 §37]

Source: Section 708A.155 — Investment in foreign banks , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 711.150 — OR Code / Title 53 / Chapter 711 / Section 711.150
711.150 Merger of Oregon nonstock bank with insured nonstock institution
Status: in_force

Subject to the provisions and requirements of ORS 711.155 (Approval of merger involving Oregon nonstock bank) to 711.165 (Effective date of merger involving Oregon nonstock bank) and 713.270 (Maintaining out-of-state bank branch in this state) , an Oregon nonstock bank may merge with any insured nonstock institution if the merger is permitted by the laws of the supervisory authority having jurisdiction over the resulting insured nonstock institution. [1997 c.631 §275]

Source: Section 711.150 — Merger of Oregon nonstock bank with insured nonstock institution , https://www.­oregonlegislature.­gov/bills_laws/ors/ors711.­html (accessed May 26, 2025).
ORS § 708a.370 — OR Code / Title 53 / Chapter 708a / Section 708a.370
708A.370 Obligations secured by first lien on real estate
Status: in_force

In addition to obligations permitted by 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 not to exceed 10 percent of the Oregon commercial bank’s capital that are secured by a first lien on real estate if the obligation does not exceed 80 percent of the fair market value of the real estate as determined by an independent appraisal. Obligations secured by a first lien on real estate that are subject to ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) may become exempt from ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) if:

(1) Title to the real estate has, in good faith, passed to another and the original maker of the note is no longer either directly or through some other person the owner of the real estate;

(2) The new owner has assumed the obligation and the Oregon commercial bank looks to the owner of the real estate rather than the maker of the obligation for payment;

(3) The obligation is not in default at the time the obligation becomes no longer subject to ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) ; and

(4) The obligation does not exceed 80 percent of the fair market value of the real estate at the time the obligation becomes no longer subject to ORS 708A.295 (Limitations on amount of obligations to Oregon commercial bank) . [1997 c.631 §159]

Source: Section 708A.370 — Obligations secured by first lien on real estate , https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html (accessed May 26, 2025).
ORS § 716.195 — OR Code / Title 53 / Chapter 716 / Section 716.195
716.195 Service of process on Oregon savings bank
Status: in_force

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

(2) The Director of the Department of Consumer and Business Services shall be an agent of an Oregon savings bank, including a dissolved Oregon savings bank, upon whom any such process, notice or demand may be served whenever the Oregon savings bank fails to appoint or maintain a registered agent in this state or whenever the Oregon 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 Oregon savings bank being served by certified or registered mail:

(A) At the last registered office of the Oregon 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 Oregon 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 §11]

Source: Section 716.195 — Service of process on Oregon savings bank , https://www.­oregonlegislature.­gov/bills_laws/ors/ors716.­html (accessed May 26, 2025).
ORS § 707.155 — OR Code / Title 53 / Chapter 707 / Section 707.155
707.155 Authority to require additional investigatory information
Status: in_force

(1) In the course of investigating any person named in the application to organize or in other documents submitted for filing, the Director of the Department of Consumer and Business Services 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 any of the following persons to submit to fingerprinting:

(a) Any person required to be named in the application to organize.

(b) Any person named in the proposed articles of incorporation of the banking institution or documents submitted for filing as a prospective incorporator or as a director, president or chief executive officer of the banking institution.

(2) Fingerprints acquired under subsection (1) of this section 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. [1985 c.786 §23; 1997 c.631 §50]

Source: Section 707.155 — Authority to require additional investigatory information; fingerprinting , https://www.­oregonlegislature.­gov/bills_laws/ors/ors707.­html (accessed May 26, 2025).