reglab/housing_qa huggingface dataset:
OR Rev Stat § 716.520 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 made eligible by law for rediscount with Federal Reserve Banks, if they are accepted by an institution or a national bank. (b) Bills of exchange drawn by the seller on the purchaser of goods and accepted by the purchaser, if they are of the kind and maturities made eligible by law for rediscount with Federal Reserve Banks and are indorsed by a national bank or an institution. (c) Savings or time accounts insured in part or wholly by an agency of the federal government. (2) Not more than 20 percent of the assets of a savings bank may be invested in the acceptances mentioned in subsection (1) of this section. Not more than five percent of the aggregate credited to the depositors of a savings bank may be invested in the acceptances of or deposited with an institution or a national bank of which a director of the savings bank is a director. The aggregate amount of the liability of an institution or a national bank to a savings bank, whether as principal or indorser, for acceptances held by the savings bank and deposits made with it, may not exceed 25 percent of the stockholders’ equity of the institution or of the paid-in capital and retained earnings of the national bank. [Amended by 1973 c.797 §376; 1999 c.59 §223]
OR Rev Stat § 716.530 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 and operating in any state of the United States, which are rated at the time of purchase under authority of this section in one of the four highest grades by a recognized service organization that has been regularly engaged for a period of 10 years or more in rating or grading bonds. However, not more than one percent of the assets of the savings bank shall be invested in bonds, notes and debentures of any one corporation, and not more than 20 percent of the assets shall be invested under this section. [Amended by 1969 c.211 §4; 1971 c.219 §5; 1973 c.797 §377; 1977 c.135 §34; 1981 c.192 §29]
OR Rev Stat § 716.535 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 the purpose of providing secondary markets for the sale of mortgages by savings banks. (2) The Federal Home Loan Bank. [1975 c.544 §46]
OR Rev Stat § 716.540 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 or guaranteed by the International Bank for Reconstruction and Development. (2) In obligations issued or guaranteed by the Inter-American Development Bank. (3) In obligations issued or guaranteed by the Asian Development Bank. (4) In obligations issued or guaranteed by the African Development Bank. [1959 c.185 §2; 1973 c.797 §378; 1985 c.456 §1]
OR Rev Stat § 716.545 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 Dominion of Canada is pledged, or bonds issued or guaranteed by a province of the Dominion of Canada. Such investments may be made only if: (1) The interest and principal of such bonds is payable in the United States, or with exchange to a city in the United States, in lawful money of the United States or its equivalent; and (2) The bonds at the time of purchase pursuant to the authority of this section are rated in one of the four highest grades by a rating organization recognized in the United States that has been regularly engaged for a period of 10 years or more in rating or grading bonds. [1959 c.185 §3; 1977 c.135 §35]
OR Rev Stat § 716.552 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 upon real estate. [Formerly 716.470; 1979 c.199 §8; 1979 c.810 §3; 1985 c.554 §5]
OR Rev Stat § 716.554 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 deed of trust upon real estate. (2) An agreement setting forth the manner in which the participating mortgagees shall administer the mortgage and acquired real estate, if any, shall be executed on behalf of each of the mortgagees by two of their authorized officers. [1973 c.797 §371a; 1977 c.135 §36; 1985 c.554 §6]
OR Rev Stat § 716.556 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 as collateral are at least 25 percent more than the loans which they secure. [1973 c.797 §371b]
OR Rev Stat § 716.558 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 in real property, if the lease is binding upon the owners of the fee title to the leased premises, in full force and free from default. [1973 c.797 §371c; 1985 c.554 §7]
OR Rev Stat § 716.562 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 to finance the construction of buildings and improvements appurtenant thereto, if before making the investment, the savings bank requires sufficient guarantee from the contractor, builder or owner for the completion of the construction in accordance with the plans and specifications and within the estimated contract price for the construction. Moneys shall be advanced from time to time during the progress of construction upon a certificate of estimate to be furnished by the architect, contractor, builder or superintendent in charge of construction or the owner. [1973 c.797 §371d; 1977 c.135 §37; 1985 c.554 §8]
OR Rev Stat § 716.564 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 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]
OR Rev Stat § 716.566 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 trust on the real estate upon which the loan is made; and (2) A policy of title insurance issued by a reliable title insurance company authorized to insure titles within the state in which the property is situated. [1973 c.797 §371f; 1985 c.554 §10]
OR Rev Stat § 716.568 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 shall contain provisions requiring the maintenance of insurance on the buildings on the premises to the reasonable amount as stipulated in the mortgage, deed of trust or other instrument. The policy shall be payable, in case of loss, to the savings bank and shall be deposited with the savings bank except where the savings bank’s interest is insured under a blanket policy of insurance. [1973 c.797 §371g; 1985 c.554 §11]
OR Rev Stat § 716.572 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 applicant, amount of loan requested and the security offered. (2) A mortgage loan shall be granted only upon the written report of at least two members of the board of investment of the savings bank certifying on the application, according to their best judgment, the value of the property to be mortgaged and recommending the loan. The application and written report shall be filed and preserved with the savings bank’s records. (3) Every mortgage and deed of trust and every assignment of a mortgage taken or held by a savings bank shall be held in its own name and immediately recorded in the office of the proper officer of the county in which the mortgaged property is located. [1973 c.797 §371h]
OR Rev Stat § 716.574 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 716.552 to 716.574. (2) A savings bank may acquire contracts covering a sale of real estate if all other requirements of ORS 716.552 to 716.574 are satisfied. [1973 c.797 §371i; 1985 c.554 §12]
OR Rev Stat § 716.578 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 ORS 716.552 to 716.574. [Formerly 716.480]
OR Rev Stat § 716.584 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 less than $2 million, a single loan on real estate shall not exceed two and one-half percent of the deposits. When deposits exceed $2 million, a single loan on real estate shall not exceed two percent of the savings bank’s deposit liability. (2) A loan may exceed the limitations prescribed in subsection (1) of this section if the borrower furnishes the savings bank with a copy of an agreement entered into with a financially responsible person wherein the person agrees to refinance or repurchase, without recourse, the entire loan: (a) Upon completion of the construction, if the loan is a construction loan; or (b) Within six months from the date of the loan, if the loan is not a construction loan. [Formerly 716.500]
OR Rev Stat § 716.586 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 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]
OR Rev Stat § 716.590 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 to 716.590, however an investment shall not be made under this section: (1) If the amount of the investment exceeds one percent of the assets of the savings bank or 10 percent of the total amount of its guaranty fund, undivided profits and unallocated reserves, whichever is less; (2) If the aggregate amount of all the investments exceeds or by the making of the investment will exceed five percent of its assets; or (3) In the equity securities of any one issuer if the aggregate amount invested by the savings bank under this section together with the amount invested in the equity securities of the issuer under any other provision of law exceeds or by the making of the investment will exceed the limitations under subsections (1) and (2) of this section. [1973 c.797 §375c; 1981 c.192 §32]
OR Rev Stat § 716.592 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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" has the meaning given that term in ORS 295.001. [1973 c.288 §7; 1999 c.311 §6; 2007 c.71 §232]
OR Rev Stat § 716.594 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 an insurance producer as required by ORS 744.053 to transact one or more of the classes of insurance described in ORS 744.062, 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 Oregon savings bank, 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 Oregon savings bank to hold stock in the corporation if the condition of the Oregon savings bank substantially deteriorates or if the insurance activities are adversely affecting the Oregon savings bank. (3) For each calendar year during which an Oregon savings bank owns all or part of any corporation licensed as an insurance producer as required by ORS 744.053, the Oregon savings bank 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 Oregon savings bank 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 to 746.219. For the purpose of this subsection, "depository institution" has the meaning given that term in ORS 746.213. [1987 c.916 §7; 1989 c.331 §31; 1989 c.701 §67; 1997 c.831 §§4,4a; 2001 c.191 §55; 2003 c.363 §10; 2003 c.364 §61a; 2005 c.194 §3]
OR Rev Stat § 716.600 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 savings banks are authorized to engage in those activities in which federal savings banks may engage and may acquire and retain those investments that federal savings banks may acquire and retain, subject to the conditions and restrictions that apply to federal savings banks. (b) Oregon savings banks shall have all powers necessary or convenient to effect any or all of the purposes for which the Oregon savings bank is organized or to perform any or all of the acts expressly or impliedly authorized or required under ORS chapter 706 or this chapter. (c) Subsidiaries of Oregon savings banks are authorized to engage in those activities in which subsidiaries of federal savings banks may engage and may acquire and retain those investments that subsidiaries of federal savings banks may acquire and retain, subject to the conditions and restrictions that apply to subsidiaries of federal savings banks. (d) Activities and investments referred to in paragraphs (a) to (c) of this subsection that require notice to or approval of the Director of the Office of Thrift Supervision shall not require such notice or approval but shall require notice to or approval of the Director of the Department of Consumer and Business Services. For purposes of this section, references in federal statutes, regulations and other authorities that prescribe permissible activities and investments of federal savings banks and subsidiaries of federal savings banks shall be considered whenever practicable to refer to comparable provisions of Oregon law. The Director of the Department of Consumer and Business Services may approve an activity or investment that requires director approval subject to such conditions as the director deems appropriate. (2) The purpose of this section is to grant Oregon savings banks and their subsidiaries investment and activity powers and authorities equivalent to that permitted federal savings banks under federal law. [1973 c.797 §379; 1987 c.197 §9; 1989 c.324 §73; 1997 c.631 §350]
OR Rev Stat § 716.626 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 the Oregon nonstock bank. (2) The certificate shall show that it does not constitute a liability of the Oregon nonstock bank, except as provided in ORS 716.800. (3) A certificate shall not be transferred by an incorporator or director without the prior written consent of the Director of the Department of Consumer and Business Services. [1973 c.797 §381; 1997 c.631 §351]
OR Rev Stat § 716.630 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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: (a) 50 percent of the guaranty fund and undivided profits account of the Oregon nonstock bank; or (b) 50 percent of the capital, as defined in ORS 708A.290, of the Oregon stock savings bank. (2) The Director of the Department of Consumer and Business Services may approve an amount in excess of the limitation prescribed under subsection (1) of this section if the director finds that an excess amount is reasonably necessary for the operation of the business and does not adversely affect the public interest. [Amended by 1971 c.219 §8; 1973 c.797 §382; 1997 c.631 §352]
OR Rev Stat § 716.780 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 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]