Source: http://www.oregonlaws.org/ors/716.040
Timestamp: 2014-08-20 12:38:57
Document Index: 341929881

Matched Legal Cases: ['§ 716', '§349', '§2', '§12', '§334', '§12']

ORS 716.040 - Articles of incorporation - 2011 Oregon Revised Statutes
2011 ORS § 716.040¹
(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.
(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).
(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]