Source: https://www.oregonlaws.org/ors/2007/722.004
Timestamp: 2019-10-13 23:12:47
Document Index: 546164053

Matched Legal Cases: ['§3', '§1', '§1', '§53', '§3', '§56', '§24', '§528', '§234']

ORS 722.004 - Definitions - 2007 Oregon Revised Statutes
2007 ORS Vol. 16 Chapter 722 Section 722.004
722.004
722.008
2007 ORS 722.004¹
(1) "Account holder" means a person who owns a savings account.
(2) "Borrower" means a person who is an obligor under a loan agreement entered into by a savings association as obligee.
(3) "Branch facility" or "branch" means an established place of business or a mobile or other facility of an association, other than the principal office, at which any savings and loan business activity is carried on.
(4) "Community" means a centralized area or locality in which a body of inhabitants is gathered in one group having common residential, social or business interests. The term does not necessarily mean a city, county or other political subdivision and need not but may be limited by lines and boundaries, and a large, populous area under one or more forms of government may be composed of several communities.
(5) "Demand deposit" means a deposit in an account that is payable on demand upon the presentation of a negotiable check or draft.
(6) "Department" means the Department of Consumer and Business Services.
(7) "Depositor" means a person who deposits money in a savings account in an association.
(8) "Director" means the Director of the Department of Consumer and Business Services.
(9) "Domestic association" means a corporation that transacts savings and loan business under articles of incorporation issued by this state.
(10) "Federal association" means a corporation that transacts savings and loan business in this state under authority to do so issued under federal law.
(11) "Foreign association" means a corporation, other than a federal association, organized to transact savings and loan business under the laws of any other state or territory of the United States.
(12) "Independent auditor" means a public accountant or a certified public accountant authorized to practice as a public accountant or as a certified public accountant under the laws of this state, or a firm of such accountants.
(13) "Managing officer" means an officer of a savings association designated by the board of directors of the association as provided by ORS 722.102 (Directors' responsibility).
(14)(a) "Member," in a mutual association, means an account holder and any other person who is a member of a class of persons granted membership rights by the articles of incorporation or the bylaws.
(b) "Member," in a stock association, means a stockholder and any other person who is a member of a class of persons granted membership rights by the articles of incorporation or the bylaws.
(15) "Mutual association" means a savings association formed without authority to issue stock.
(16) "Principal office" means the office of the headquarters of a savings association in this state.
(17) "Savings account" means the interest of an account holder in the savings liability of a savings association.
(18) "Savings association" or "association" means a domestic association or a foreign association and includes a stock or a mutual association.
(19) "Savings Association Act" means this chapter.
(20) "Savings bank" has the meaning given that term by ORS 706.008 (Additional definitions for Bank Act), except as otherwise provided in ORS 722.014 (Name of savings association) relating to name.
(21) "Savings liability" means the total amount on deposit in all savings accounts of a savings association plus interest earned on such accounts.
(22) "Service corporation" means a corporation:
(a) That is engaged, or proposes to engage, in a business activity related to savings and loan business; and
(b) In which at least 80 percent of the shares of stock having voting rights are owned by one or more saving associations or federal associations.
(23) "Stock association" means a savings association formed with authority to issue stock.
(24) "Stockholder" means a person who appears on the records of a savings association as the owner of one or more shares of stock of the association.
(25) "To transact savings and loan business" means to engage in business activities to promote savings and home building and ownership, to acquire funds of the public to invest in loans and to make repayments to savers as provided in savings plans.
(26) "Withdrawal value" means the amount of a savings account, less lawful deductions. [1975 c.582 §§3 to 31; 1981 c.472 §1; 1985 c.374 §1; 1985 c.762 §53; 1985 c.798 §3; 1987 c.373 §56; 1993 c.744 §24; 1997 c.631 §528; 2007 c.71 §234]
Order to show cause why invalid claim of encumbrance should not be discharged
Activities of out-of-state bank, extrana­tional institu­tion or foreign associa­tion that do not constitute transacting business in this state
722.656
Certain outstanding shares, share accounts and invest­ment certificates considered savings accounts