justicedao/ipfs_state_laws huggingface dataset:
ORS Chapter 708a — Regulation of Institutions

ORS 708a.145. Authorized services of bank service corporations; sale of insurance; regulation of services. (1) A bank service corporation may perform any of the following services for financial institutions: (a) Check and deposit sorting and posting; (b) Computing and posting interest and other credits and charges; (c) Preparing and mailing checks, statements, notices and similar items; or (d) Any other clerical, bookkeeping, accounting, statistical or similar functions. (2) In addition to the services that a bank service corporation may perform for financial institutions under subsection (1) of this section, a bank service corporation: (a) May perform for any person any service that any shareholders of the bank service corporation or any holding company or subsidiary of the shareholder may lawfully perform, except that a bank service corporation may not engage in the business of banking. (b) Is subject to the limitations with respect to selling insurance that apply to depository institutions under ORS 746.213 to 746.219. For the purpose of this paragraph, depository institution has the meaning given that term in ORS 746.213. (3) A banking institution may not cause to be performed, by contract or otherwise, any of the services described in subsection (1) of this section for the banking institution, whether on or off the banking institutions premises, unless both the banking institution and the person that performs the services give a satisfactory assurance to the Director of the Department of Consumer and Business Services that the director may regulate and examine the performance of the services to the same extent as if the banking institution performed the services on the banking institutions own premises. (4) The director may regulate and examine the performance of the services described in subsection (1) of this section for financial institutions, and may regulate and examine a bank service corporations performance of the services described in subsection (2) of this section.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.150. Community development corporations; authority to invest or organize; conditions; corporate form; functions. (1) As provided in this section: (a) A banking institution may invest its capital in a community development corporation. (b) A banking institution may organize a community development corporation as a wholly owned subsidiary of the banking institution and invest its capital in the corporation. (2) A banking institution may invest in or organize and invest in a community development corporation under subsection (1) of this section, if the following conditions are satisfied: (a) The projects undertaken by the community development corporation must be predominantly of a civic, community or public nature, and not merely of a private or entrepreneurial nature. (b) The banking institutions aggregate investment in community development corporations and their projects must not exceed two percent of its capital for any project and five percent of its capital for all projects, or 10 percent of its capital for all projects with the approval of the Director of the Department of Consumer and Business Services. (c) The banking institution must submit to the director its proposal for investing in or organizing and investing in a community development corporation and the proposal must receive the directors approval. (d) The membership of the board of directors of the community development corporation must be representative of the community in which the corporation is to operate. (3) A community development corporation may be organized as a for-profit corporation under ORS chapter 60 or as a nonprofit corporation under the Oregon Nonprofit Corporation Law. A community development corporation must be authorized under its articles of incorporation or applicable law to: (a) Acquire real estate. This paragraph does not authorize real estate investment that is primarily speculative in nature. (b) Make equity investments in small businesses and in development projects that primarily benefit small businesses. (c) Participate in joint ventures with outside partners. (4) A banking institution wishing to invest in or organize and invest in a community development corporation shall submit to the director, on an application form designed by the director, a proposal that describes in detail the nature and scope of development activities the community development corporation intends to undertake. (5) The director may submit an application to any appropriate state agency or city, county or other local government for its advice and assistance on determining the need and practicability of the projects proposed in the application.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.155. Investment in foreign banks. (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, 183.315, 183.330, 183.335 and 183.341 to 183.410, 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 banks or corporations operations or conduct the banks or corporations 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.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.165. Membership in Federal Reserve System; member bank, officers, directors and shareholders subject to duties and liabilities imposed by laws of this state. (1) An Oregon commercial bank may subscribe to the capital stock and become a member of a Federal Reserve Bank. (2) An Oregon commercial bank that is a member of a Federal Reserve Bank is subject to supervision and examination under the laws of this state. The Federal Reserve Board may also examine the Oregon commercial bank. The authorities of this state that have supervisory authority over an Oregon commercial bank may disclose to the Federal Reserve Board, or to examiners that the Federal Reserve Board appoints, all information the authorities of this state have about the affairs of any Oregon commercial bank that has become, or desires to become, a member of a Federal Reserve Bank. (3) An Oregon commercial bank that is a member bank and the directors, principal officers and stockholders of the Oregon commercial bank are subject to all liabilities and duties that the laws of this state impose upon directors, officers and stockholders of Oregon commercial banks.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.170. Securities powers. An institution may, with the approval of the Director of the Department of Consumer and Business Services, purchase, sell, issue, underwrite and deal in securities to the same extent national banks may do so.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.175. Right to purchase, hold and dispose of real and personal property. An institution may purchase, hold, convey, sell or lease: (1) The real estate and improvements thereto in which the business of the institution is carried on, including, with its offices, other space in the same building to rent as a source of income. (2) Furniture, fixtures, vaults, safe deposit boxes and other personal property necessary or convenient to carrying on the business of the institution. (3) Real or personal property purchased by or conveyed to the institution in satisfaction of or on account of debts previously contracted in the course of its business, or otherwise acquired in the course of collecting debts. (4) Real estate purchased at execution sale or under a judgment. (5) Real estate conveyed to the institution in connection with its purchase of a bona fide contract of sale covering the real estate conveyed. (6) Real estate purchased with the approval of the Director of the Department of Consumer and Business Services for the purpose of future location or expansion of the business of the institution. (7) Real estate held in trust and real estate purchased with assets other than those of the institution.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.180. Acquisition of personal property for leasing purposes. An Oregon commercial bank may acquire and lease personal property at the request of a lessee that wishes to lease the personal property upon terms that require paying rents. Rents may include residual values, the payment of which a responsible third party guarantees.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.185. Purchase of real estate contracts. Institutions may purchase the vendors interest in bona fide contracts covering the sale of real estate that comply with the requirements of ORS 708A.270.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.190. Acceptance of drafts and bills of exchange; issuance of letters of credit; obligation for participation share in bills; rules. (1) An Oregon commercial bank may accept drafts or bills of exchange drawn upon it having not more than six months sight to run, exclusive of days of grace, that grow out of transactions involving the importation or exportation of goods, or that grow out of the domestic shipment of goods, or that are secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title covering readily marketable staples. (2) An Oregon commercial bank shall not accept drafts or bills of exchange or issue letters of credit, whether in a foreign or domestic transaction, for any one person to an amount equal at any one time in the aggregate to more than 20 percent of its capital, unless the Oregon commercial bank is fully secured either by attached documents or by some other actual security growing out of the same transaction as the acceptance or letter of credit. (3) Except as provided in subsection (5) of this section, an Oregon commercial bank shall not accept bills or issue letters of credit, or be obligated for a participation share in bills, to an amount equal at any time in the aggregate to more than 150 percent of its capital. The aggregate of acceptances or bills, including obligations for a participation share in such acceptances, growing out of domestic transactions shall not exceed 50 percent of the aggregate of all acceptances, including obligations for a participation share in such acceptances, authorized for the Oregon commercial bank under this section. (4) An Oregon commercial bank may accept drafts or bills of exchange drawn upon it having not more than six months sight to run, exclusive of days of grace, drawn under rules prescribed by the Director of the Department of Consumer and Business Services or bankers in foreign countries or dependencies or insular possessions of the United States for the purpose of furnishing dollar exchange, as required by the usages of trade in the respective countries, dependencies or insular possessions. An Oregon commercial bank shall not accept the drafts or bills of exchange for any one bank to any amount exceeding in the aggregate 20 percent of the capital of the accepting Oregon commercial bank, unless the draft or bill of exchange is accompanied by documents conveying or securing the title or by some other adequate security. An Oregon commercial bank shall not accept the drafts or bills of exchange in an amount exceeding at any time the aggregate of its capital. (5) The director, under such conditions as the director may prescribe, may authorize, by rule or order, any Oregon commercial bank to accept bills and issue letters of credit, or be obligated for a participation share in bills, in an amount not exceeding at any time in the aggregate 200 percent of its capital.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.195. Disposition of real and personal property. (1) An institution shall promptly dispose of real and personal property that the institution may not own or hold under the Bank Act. (2) An institution shall sell or exchange real estate that the institution acquires in accordance with ORS 708A.175 (3) and (4) for other real estate within 10 years after title has vested in the real estate, unless the Director of the Department of Consumer and Business Services extends the time. Title vests for purposes of this section on the date the institution receives a deed to the real estate. An institution may not exchange real estate for other real estate without the directors prior written consent. An institution may hold real estate the institution takes in exchange for other real estate for a period of time that the director fixes, not to exceed 10 years from the date of the exchange. (3) An institution shall promptly dispose of personal property the institution acquires under ORS 708A.175 (3).
ORS Chapter 708a — Regulation of Institutions

ORS 708a.210. Challenge to validity of institution action; prohibition; exceptions. (1) Except as provided in subsection (2) of this section, the validity of an institutions action may not be challenged on the grounds that the institution lacks or lacked power to act. (2) An institutions 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 stockholders 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] LOANS GENERALLY
ORS Chapter 708a — Regulation of Institutions

ORS 708a.250. Lending money. Except as specifically limited by the Bank Act and other applicable law, Oregon commercial banks have the general power to loan money upon terms and conditions that are consistent with safe and sound banking practices.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.260. Accepting own stock as collateral. An Oregon commercial bank may not accept the Oregon commercial banks own capital stock as collateral unless taking the Oregon commercial banks own stock as collateral is necessary to prevent loss upon an indebtedness previously contracted in good faith. If the indebtedness is not paid in full within six months after the date on which the Oregon commercial bank took the stock as collateral, the Oregon commercial bank shall sell the stock promptly.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.265. Accepting stock of other institutions as collateral. An Oregon commercial bank may not accept or hold as loan collateral in the aggregate more than 25 percent of the capital stock of any other insured stock institution.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.270. Real estate loans. (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.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.275. Establishment of loan production office; notice; fee. (1) An Oregon bank shall file a notice with the Director of the Department of Consumer and Business Services within 30 days after establishing a loan production office in this state or in another state. The notice must include: (a) The name of the Oregon bank 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 Oregon bank who is responsible for loan production office activities. (2) An Oregon bank shall file a notice under subsection (1) of this section for each loan production office. (3) Each notice that an Oregon bank files under subsection (1) of this section must be: (a) Accompanied by a nonrefundable fee of $100. (b) Amended if a material change occurs in the information the Oregon bank provided under subsection (1) of this section. A fee is not required for amendments. (4) An Oregon bank shall notify the director of the closure of a loan production office, the date of closure and the disposition of any records previously maintained at the loan production office. A fee is not required for a notice of closure. [1999 c.107 5; 2015 c.244 45a] LOAN AND OTHER OBLIGATION LIMITS
ORS Chapter 708a — Regulation of Institutions

ORS 708a.290. commercial bank, means tier 1 and tier 2 capital, as applicable and as reported in the banks Consolidated Report of Condition and Income (Call Report) filed under 12 U.S.C. 1817(a)(3), as of the quarter-end preceding the quarter in which a loan or other obligation is approved, plus the balance of the Allowance for Loan and Lease Losses or Adjusted Allowance for Credit Losses as of the same quarter-end not included in tier 2 capital.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.295. exceed 25 percent of the Oregon commercial banks capital, as an indorser or guarantor of negotiable or nonnegotiable installment consumer paper that carries a full or partial recourse indorsement or unconditional guarantee by the person transferring the obligation and conforms to rules prescribed by the Director of the Department of Consumer and Business Services. (2) The 25 percent limitation of subsection (1) of this section does not apply to the extent the Oregon commercial bank relies primarily on the obligors on the consumer paper for the payment of the consumer paper, the Oregon commercial bank has reasonably adequate knowledge of the financial condition of the obligors on the consumer paper and an officer of the Oregon commercial bank certifies in writing that the creditworthiness of the obligors on the consumer paper has been evaluated. The certificate shall be retained as part of the records of the Oregon commercial bank.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.300. Obligations secured by readily marketable collateral. In addition to obligations permitted under ORS 708A.295, 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.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.305. Obligations of other financial institutions. In addition to obligations permitted under ORS 708A.295, 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.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.310. Obligations of indorser of discounted commercial paper. (1) In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person without regard to amount as an indorser, arising out of the discount of commercial or business paper owned by the person negotiating the paper. (2) As used in this section, commercial or business paper means negotiable notes, drafts, acceptances or bills of exchange having a maturity of not more than six months, that have been given by one person to another in settlement of a commercial or business transaction involving the purchase of goods, and upon which both parties to the transaction are liable either as maker, drawer, acceptor or indorser.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.315. Noncommercial short-term notes. In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person, not to exceed 15 percent of the banks capital, as an indorser or guarantor of notes, other than commercial or business paper excepted under ORS
ORS Chapter 708a — Regulation of Institutions

ORS 708a.320. Obligations secured by shipping documents. In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to or acquire other obligations of a person without regard to amount, provided the obligations are fully secured by shipping documents conveying or securing title to goods or commodities in process of shipment.
ORS Chapter 708a — Regulation of Institutions

ORS 708a.325. Installment consumer paper. (1) In addition to obligations permitted under ORS
ORS Chapter 708a — Regulation of Institutions

ORS 708a.330. Bankers acceptances of other financial institutions. In addition to obligations permitted under ORS 708A.295, 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.