Source: http://law.onecle.com/oregon/716-savings-banks/index.html
Timestamp: 2017-04-26 15:37:43
Document Index: 89942201

Matched Legal Cases: ['§428', '§344', '§567', '§48', '§567', '§428', '§348', '§567', '§52', '§567', '§355', '§44', '§567', '§14', '§357', '§567', '§428', '§21', '§567', '§22', '§567', '§428', '§428', '§428', '§428', '§1', '§1', '§428', '§361', '§567', '§362', '§27', '§567', '§51', '§26', '§48', '§567', '§363', '§25', '§49', '§567', '§32', '§50', '§567', '§428', '§428', '§365', '§567', '§366', '§27', '§15', '§10', '§13', '§1', '§1', '§1', '§3', '§4', '§371', '§373', '§374', '§375', '§428', '§1', '§428', '§2', '§62', '§4', '§428', '§5', '§428', '§6', '§428', '§7', '§428', '§8', '§428', '§9', '§428', '§372', '§29', '§30', '§13', '§13', '§380', '§1', '§6', '§7', '§428', '§380', '§46', '§3', '§428', '§2', '§383', '§12', '§59', '§355', '§2', '§567', '§428', '§2', '§428', '§384', '§567', '§428', '§2', '§1', '§428', '§2', '§9', '§428', '§2', '§10', '§428', '§2', '§428', '§428', '§428', '§2', '§1', '§385', '§47', '§3', '§567', '§428', '§389', '§428', '§428', '§52', '§359', '§393', '§62', '§428', '§428', '§428', '§3', '§12', '§397', '§60', '§32', '§5', '§14', '§49', '§10', '§8', '§74', '§567', '§398', '§61', '§34', '§33', '§9', '§567', '§399', '§62', '§35', '§34', '§10', '§567', '§400', '§63', '§31', '§36', '§35', '§567', '§401', '§50', '§567']

Oregon Statutes - Chapter 716 - Savings Banks - Legal Research
Oregon Statutes - Chapter 716 - Savings Banks
Laws > 716.010 [Repealed by 1973 c.797 §428] 716.020 [Amended by 1973 c.797 §344; repealed by 1997 c.631 §567] 716.024 Provisions of Bank Act applicable to Oregon savings banks and Oregon stock savings banks.
(1) The provisions of ORS chapter 706 relating to financial institutions, the following sections in the Bank Act and any other provisions of the Bank... 716.028 Application for authority to organize; fee; contents.
Any number of persons, not less than five, desiring to organize an Oregon savings bank shall, as prospective incorporators, first file an application with the... 716.029 [1985 c.762 §48; repealed by 1997 c.631 §567] 716.030 [Repealed by 1973 c.797 §428] 716.032 Investigation and ruling on application.
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investigate and rule on the application for authority to organize in the manner specified... 716.036 [1973 c.797 §348; repealed by 1997 c.631 §567] 716.040 Articles of incorporation; contents.
(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... 716.050 Approval of articles; certificate of incorporation; filing.
(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... 716.055 Creation of guaranty and expense funds.
Before an Oregon nonstock bank may conduct its business, its incorporators shall create: (1) A guaranty fund, as provided in ORS 716.060, for the protection... 716.060 Guaranty fund.
(1) The guaranty fund shall consist of payments in cash made by the incorporators and of all sums credited to the guaranty fund as required... 716.070 Expense fund.
(1) The incorporators of an Oregon nonstock bank shall create an expense fund by depositing to the credit of the Oregon nonstock bank in cash... 716.080 Issuance of charter.
(1) The Director of the Department of Consumer and Business Services shall examine the condition of an Oregon nonstock bank when the Oregon nonstock bank... 716.085 [1985 c.786 §52; repealed by 1997 c.631 §567] 716.090 [Amended by 1973 c.797 §355; 1975 c.544 §44a; repealed by 1997 c.631 §567] 716.100 Effect of failure to complete organization; liabilities.
(1) If an Oregon savings bank fails to complete its organization and receive from the Director of the Department of Consumer and Business Services a... 716.110 [Amended by 1959 c.185 §14; 1973 c.797 §357; repealed by 1997 c.631 §567] 716.120 Conditions precedent to transaction of business.
An Oregon savings bank shall not transact any business, except as incidental or necessary to its organization, until: (1) It has received its charter from... 716.130 [Repealed by 1973 c.797 §428] 716.135 Amendment of articles of incorporation.
(1) An Oregon nonstock bank may amend its articles of incorporation, from time to time, in any and as many respects as may be desired,... 716.140 Resolution for amending articles.
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... 716.145 Form and content of articles of amendment.
The articles of amendment shall be executed in duplicate by the Oregon nonstock bank by its president or a vice president and by its cashier,... 716.150 [1979 c.88 §21; repealed by 1997 c.631 §567] 716.155 [1979 c.88 §22; repealed by 1997 c.631 §567] 716.160 Restated articles of incorporation; procedure; contents.
(1) An Oregon nonstock bank may by action taken in the same manner as required for amendment of its articles of incorporation adopt restated articles... 716.180 Bylaws.
The initial bylaws of an Oregon savings bank shall be adopted by its board of directors. The power to alter, amend or repeal the bylaws... 716.185 Registered agent; registered office.
(1) Each Oregon savings bank shall continuously maintain in this state a registered agent and registered office that may be, but need not be, the... 716.187 Changes in registered office or agent.
(1) An Oregon savings bank may change its registered office or registered agent by delivering to the Director of the Department of Consumer and Business... 716.190 Resignation of registered agent; discontinuance of registered office.
(1) A registered agent may resign as agent upon delivering a signed statement to the Director of the Department of Consumer and Business Services and... 716.195 Service of process on Oregon savings bank.
(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... 716.205 Salaries of certain directors.
(1) Subject to the written approval of the Director of the Department of Consumer and Business Services, the board of directors of a savings bank... 716.210 Number and qualifications of directors.
(1) The board of directors of an Oregon savings bank shall manage and control the affairs of the Oregon savings bank. The board shall consist... 716.220 [Repealed by 1973 c.797 §428] 716.230 [Repealed by 1973 c.797 §428] 716.240 [Repealed by 1973 c.797 §428] 716.250 [Repealed by 1973 c.797 §428] 716.260 [Amended by 1957 c.169 §1; 1969 c.211 §1; repealed by 1973 c.797 §428] 716.270 [Amended by 1973 c.797 §361; repealed by 1997 c.631 §567] 716.280 [Amended by 1973 c.797 §362; 1983 c.37 §27; repealed by 1997 c.631 §567] 716.285 [1975 c.544 §51; 1979 c.88 §26; 1985 c.786 §48; repealed by 1997 c.631 §567] 716.290 [Amended by 1973 c.797 §363; 1981 c.192 §25; 1985 c.786 §49; repealed by 1997 c.631 §567] 716.295 [1977 c.135 §32; 1985 c.786 §50; repealed by 1997 c.631 §567] 716.300 [Repealed by 1973 c.797 §428] 716.310 [Repealed by 1973 c.797 §428] 716.320 Removal of director; vacation of director�s office.
(1) A board member of an Oregon nonstock bank may be removed from office by the affirmative vote of three-fourths of the directors at any... 716.330 [Amended by 1973 c.797 §365; repealed by 1997 c.631 §567] 716.410 Limitations on investments.
A savings bank may invest its assets only as provided by ORS 716.420 to 716.590. [Amended by 1973 c.797 §366; 1979 c.88 §27] 716.420 Permitted investments.
An Oregon savings bank may invest the funds mentioned in ORS 716.410: (1) In the obligations specified in ORS 708A.115 (1), without limitation. (2) Subject... 716.430 [Repealed by 1959 c.185 §15] 716.440 [Repealed by 1959 c.185 §10 (716.441 enacted in lieu of 716.440)] 716.441 Investments in equipment trust certificates.
(1) A savings bank may invest the funds mentioned in ORS 716.410 in equipment trust certificates that are, at the time of purchase, rated in... 716.450 Investments in certain obligations.
An Oregon savings bank may invest the funds mentioned in ORS 716.410: (1) In the notes of any person, with a pledge as collateral of... 716.460 Investments in demand notes secured by deposit accounts.
A savings bank may invest the funds mentioned in ORS 716.410 in promissory notes made payable on demand to the order of the savings bank,... 716.470 [Amended by 1959 c.185 §13; 1961 c.277 §1; 1965 c.215 §1; 1967 c.198 §1; 1969 c.211 §3; 1971 c.219 §4; 1973 c.797 §371; renumbered 716.552] 716.480 [Amended by 1973 c.797 §373; renumbered 716.578] 716.490 [Amended by 1973 c.797 §374; renumbered 716.582] 716.500 [Amended by 1973 c.797 §375; renumbered 716.584] 716.510 [Repealed by 1973 c.797 §428] 716.520 Investments in bankers� acceptances, bills of exchange, savings or time accounts; limits.
(1) A savings bank may invest the funds mentioned in ORS 716.410 in: (a) Bankers� acceptances and bills of exchange of the kind and maturities... 716.530 Investments in corporate bonds, notes and debentures.
A savings bank may invest the funds mentioned in ORS 716.410 in the bonds, notes and debentures of any corporation incorporated under the laws of... 716.535 Investments in common stock of federally chartered corporation providing secondary mortgage sale markets and Federal Home Loan Bank.
A savings bank may invest the funds mentioned in ORS 716.410 in the common stock of: (1) Any federally chartered corporation that is chartered for... 716.540 Investments in obligations of reconstruction and development banks.
A savings bank may invest not more than five percent of its assets in each of the following categories of investments: (1) In obligations issued... 716.542 [1963 c.408 §1; repealed by 1973 c.797 §428] 716.543 [1973 c.638 §2; repealed by 1975 c.544 §62] 716.545 Investments in bonds of Dominion of Canada.
A savings bank may invest the funds mentioned in ORS 716.410 in bonds issued by the Dominion of Canada for which the faith of the... 716.550 [1959 c.185 §4; repealed by 1973 c.797 §428] 716.552 Investments in notes or bonds secured by real estate mortgages or trust deeds.
A savings bank may invest the funds mentioned in ORS 716.410 in notes or bonds, secured by first or junior mortgages or deeds of trust... 716.554 Participation in investments in notes or bonds secured by real estate mortgages or trust deeds.
(1) In participation with other mortgagees, a savings bank may invest the funds mentioned in ORS 716.410 in notes or bonds secured by mortgage or... 716.555 [1959 c.185 §5; repealed by 1973 c.797 §428] 716.556 Investment in loans secured by pledged notes or bonds.
A savings bank may invest in loans secured by pledge of the notes or bonds specified in ORS 716.552, if the notes or bonds pledged... 716.558 Investment in notes or bonds secured by mortgages or trust deeds on real property leases.
A savings bank may invest the funds mentioned in ORS 716.410, in notes or bonds secured by mortgage or deed of trust upon leasehold estates... 716.560 [1959 c.185 §6; repealed by 1973 c.797 §428] 716.562 Investment in notes or bonds secured by mortgages or trust deeds to finance building construction and improvement.
A savings bank may invest the funds mentioned in ORS 716.410 in notes or bonds secured by a mortgage, deed of trust or similar instrument... 716.564 Investment in notes or bonds secured by mortgages or trust deeds to finance real estate development.
A savings bank may invest the funds mentioned in ORS 716.410 in notes or bonds secured by a mortgage, deed of trust or other instrument... 716.565 [1959 c.185 §7; repealed by 1973 c.797 §428] 716.566 Documents to be furnished by borrower in real estate loans.
In loans upon real property, the borrower shall furnish the savings bank with: (1) A note or bond secured by a mortgage or deed of... 716.568 Requirement of insurance for loan secured by mortgage, trust deed or other instrument on real estate.
If a loan is secured by mortgage, deed of trust or other similar instrument on real estate, the mortgage, deed of trust or other instrument... 716.570 [1959 c.185 §8; repealed by 1973 c.797 §428] 716.572 Mortgage loan applications; conditions for granting loan; manner of holding mortgages and trust deeds.
(1) An application for a mortgage loan or renewal or extension of a mortgage loan shall be written and show the date, name of the... 716.574 Purchase of real estate sale contract as loan; authority to acquire contracts.
(1) The purchase of a bona fide contract covering a sale of real estate is a loan on real estate within the meaning of ORS... 716.575 [1959 c.185 §9; repealed by 1973 c.797 §428] 716.576 [1973 c.797 §372; 1979 c.88 §29; 1981 c.192 §30; repealed by 1985 c.554 §13] 716.578 Purchase of notes secured by real estate from third persons.
A savings bank may take and hold by purchase and assignment from third persons notes, bonds, mortgages and deeds of trust eligible for investment under... 716.582 [Formerly 716.490; repealed by 1985 c.554 §13] 716.584 Limitations on single loans on real estate; exceptions.
(1) If deposits are less than $1 million, a single loan on real estate shall not exceed $10,000. When deposits exceed $1 million but are... 716.586 Credit card transactions.
(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... 716.588 Investments in certain corporate capital stocks; conditions; restrictions on corporate indebtedness.
(1) A savings bank may invest the funds mentioned in ORS 716.410 in the capital stock of a corporation organized under the laws of this... 716.590 Miscellaneous investments; conditions.
A savings bank may invest the funds mentioned in ORS 716.410 in investments which do not qualify under any of the provisions of ORS 716.420... 716.592 Pledging assets to secure public funds.
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�... 716.594 Authority of Oregon savings bank to acquire corporation licensed as insurance producer; rules.
An Oregon savings bank may acquire and hold all or part of the stock of a corporation that is or may thereafter be licensed as... 716.600 Relationship to powers of federal savings banks.
(1) Notwithstanding any provision contained in ORS chapters 706 to 715, except as limited by articles of incorporation of an Oregon savings bank: (a) Oregon... 716.610 General powers; licensing as insurance producer; rules.
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.... 716.616 [1973 c.797 §380a; repealed by 1975 c.291 §1] 716.620 [Amended by 1969 c.211 §6; 1971 c.219 §7; repealed by 1973 c.797 §428] 716.622 [1973 c.797 §380b; repealed by 1981 c.192 §46] 716.626 Certificates indicating contribution to guaranty or expense funds.
(1) An Oregon nonstock bank may issue transferable certificates showing the amounts contributed by any incorporator or director to the guaranty or expense funds of... 716.630 Real estate held for use as place of business.
(1) The cost of the land and buildings to be used by an Oregon nonstock bank for the transaction of its business shall not exceed:... 716.640 [Amended by 1957 c.161 §3; repealed by 1973 c.797 §428] 716.645 [1957 c.161 §2; 1973 c.797 §383; 1975 c.193 §12; 1977 c.135 §59; 1995 c.79 §355; 1995 c.313 §2; repealed by 1997 c.631 §567] 716.650 [Repealed by 1973 c.797 §428] 716.660 [Amended by 1961 c.57 §2; repealed by 1973 c.797 §428] 716.670 [Amended by 1973 c.797 §384; repealed by 1997 c.631 §567] 716.680 [Repealed by 1973 c.797 §428] 716.690 [Repealed by 1957 c.168 §2] 716.695 [1957 c.168 §1; repealed by 1973 c.797 §428] 716.700 [Repealed by 1957 c.168 §2] 716.710 [Amended by 1971 c.219 §9; repealed by 1973 c.797 §428] 716.720 [Amended by 1961 c.96 §2; 1971 c.219 §10; repealed by 1973 c.797 §428] 716.730 [Amended by 1969 c.193 §2; repealed by 1973 c.797 §428] 716.740 [Repealed by 1973 c.797 §428] 716.750 [Repealed by 1973 c.797 §428] 716.760 [Amended by 1953 c.86 §2; 1965 c.214 §1; 1973 c.797 §385; 1975 c.544 §47a; 1981 c.7 §3; repealed by 1997 c.631 §567] 716.770 [Repealed by 1973 c.797 §428] 716.780 Crediting portion of net earnings to guaranty fund.
(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... 716.790 Computation of guaranty fund.
(1) To determine the amount of a guaranty fund of an Oregon nonstock bank, the total liabilities due and accrued, undivided profits and net earnings... 716.800 Repayment of contributions made to expense fund and guaranty fund.
(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... 716.805 Determining earnings.
Earnings of a savings bank shall be calculated on an accrual basis according to generally accepted accounting principles. [1973 c.797 §389] 716.810 [Repealed by 1973 c.797 §428] 716.820 [Repealed by 1973 c.797 §428] 716.830 Payment of dividends; classification of depositors; certificates of deposit; notice of change of rate.
(1) Every Oregon nonstock bank shall regulate the rate of dividends upon the amounts to the credit of its time depositors so that time depositors... 716.840 Liability of directors voting improper dividend.
If any dividend is declared and credited in excess of profits earned together with surplus and undivided profits since the last declaration of dividends and... 716.850 False advertising of surplus or guaranty fund prohibited.
An Oregon nonstock bank shall not use any sign or notice or publish or circulate any advertisement in which the surplus or guaranty fund is... 716.855 [1975 c.544 §52; 1997 c.631 §359; renumbered 716.991 in 2001] 716.860 [Amended by 1973 c.797 §393; repealed by 1975 c.544 §62] 716.870 [Repealed by 1973 c.797 §428] 716.880 [Repealed by 1973 c.797 §428] 716.890 [Repealed by 1973 c.797 §428] 716.900 Voluntary dissolution of Oregon nonstock banks; priority of payment.
(1) Subject to the written approval of the Director of the Department of Consumer and Business Services and if necessary or expedient, the board of... 716.905 Notice of intention to close; disposition of unclaimed deposits.
(1) Acting under ORS 716.900 the directors shall direct the mailing of a written notice of their intention to close the Oregon nonstock bank to... 716.910 Report to director; termination of existence.
After the directors of an Oregon nonstock bank have filed their report and deposited the unclaimed funds with the Department of State Lands as required... 716.915 Voluntary liquidation.
An Oregon stock savings bank may go into voluntary liquidation in accordance with the procedures and subject to the provisions set forth for institutions in... 716.920 [1955 c.690 §3; 1971 c.219 §12; 1973 c.797 §397; 1977 c.135 §60; 1983 c.37 §32; 1983 c.367 §5; 1985 c.12 §14; 1985 c.762 §49; 1987 c.197 §10; 1987 c.445 §8; 1989 c.324 §74; repealed by 1997 c.631 §567] 716.925 [1973 c.797 §398; 1977 c.135 §61; 1981 c.192 §34; 1983 c.37 §33; 1987 c.445 §9; repealed by 1997 c.631 §567] 716.930 [1973 c.797 §399; 1977 c.135 §62; 1981 c.192 §35; 1983 c.37 §34; 1987 c.445 §10; repealed by 1997 c.631 §567] 716.935 [1973 c.797 §400; 1977 c.135 §63; 1979 c.88 §31; 1981 c.192 §36; 1983 c.37 §35; repealed by 1997 c.631 §567] 716.990 [Amended by 1973 c.797 §401; 1985 c.762 §50; repealed by 1997 c.631 §567] 716.991 Civil penalties.
Any person who violates ORS 716.850 shall forfeit and pay to the State Treasurer to be deposited in the Consumer and Business Services Fund a... Last modified: August 7, 2008