reglab/housing_qa huggingface dataset:
OR Rev Stat § 709.390 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.390 - Discontinuance of trust business; determination of claims against deposit of securities.

(1) If a trust company discontinues its trust business, the Director of the Department of Consumer and Business Services shall file in the circuit court for the county in which the principal place of business of the trust company is located a verified petition: (a) Stating that the trust company is closing, dissolving or transferring its trust business or is in process of voluntary or involuntary liquidation. (b) Requesting that claims, if any, against the deposit made under ORS 709.030 by the trust company with the director be determined. (2) Notwithstanding the provisions of subsection (1) of this section, if proceedings for the liquidation of the trust company have been commenced in a court located in a county or state other than the county in this state in which the trust company has its principal place of business, the director shall file the verified petition described in subsection (1) of this section in the court where the proceedings have been commenced. [Amended by 1957 c.115 §1; 1973 c.797 §209; 1997 c.631 §221]
OR Rev Stat § 709.410 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.410 - Termination of right to do trust business.

The filing by the Director of the Department of Consumer and Business Services of the petition provided for in ORS 709.390 terminates the right of the trust company affected thereby to do a trust business in this state, except as may be necessary to wind up then existing trusts. [Amended by 1973 c.797 §211; 1997 c.631 §223]
OR Rev Stat § 709.420 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.420 - Actions or suits on claims; service of summons; preference on calendar.

(1) In all actions to determine claims to the deposits, the Director of the Department of Consumer and Business Services shall be a necessary party defendant. (2) An action shall not be considered to have begun within the time required by the order unless, in the case of defendants within the state, summons is actually served within 60 days after the time limited in the order. (3) Actions filed to determine claims to the deposits shall have preference upon the calendar of any Oregon trial or appellate court and shall be tried by such courts without unnecessary delay. [Amended by 1973 c.797 §212; 1997 c.631 §224]
OR Rev Stat § 709.430 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.430 - Release or payment of deposit pending suit; distribution of deposits upon determination of suit.

(1) If any actions on claims against the deposit mentioned in ORS 709.390 are begun within the six-month period, the Director of the Department of Consumer and Business Services shall not release and the court shall not order the payment of any part of the deposit until all actions are determined by final judgment. (2) When all actions on claims against the deposit are finally determined, so much of the deposit as is necessary shall be paid to the claimants who have established their claims in the sums allowed by the court or, if not sufficient, the deposit shall be distributed pro rata among the claimants establishing their claims. (3) The court, in the proceeding initiated by the director, shall enter a judgment providing that the balance of the deposit be paid to the trust company or if the trust company is in the process of liquidation, to the official in charge of the liquidation. [Amended by 1973 c.797 §213; 1997 c.631 §225; 2003 c.576 §548]
OR Rev Stat § 709.440 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.440 - Director’s charges as prior lien on deposit.

All unpaid charges owing to the Director of the Department of Consumer and Business Services for expenses and services rendered under ORS 709.080 in connection with the deposit mentioned in ORS 709.030, and all expenses incurred by the director, including services rendered by the director, attorney fees and necessary court expenses in connection with the determination of claims against the deposit, are a first and prior lien on the deposit, and shall be paid before any part of the deposit is released or paid to any claimant or trust company. [Amended by 1973 c.797 §214; 1997 c.631 §226]
OR Rev Stat § 709.450 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.450 - Sale and disposition of securities to pay expenses, costs and claims.

The court hearing the proceedings instituted by the Director of the Department of Consumer and Business Services under ORS 709.390 may, upon terms fixed by the court, order the director to sell and reduce to cash the deposited securities as necessary to pay: (1) The unpaid charges and expenses described in ORS 709.440; and (2) Claims established against the deposit. [Amended by 1973 c.797 §215]
OR Rev Stat § 709.460 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.460 - Application of ORS 709.390 to 709.450 to merger or consolidation; return of security deposit after merger or consolidation.

(1) ORS 709.390 to 709.450 do not apply to a merger or consolidation of a trust company with another trust company authorized to conduct a trust business whereby the security deposits and the trust business of the retiring trust company are acquired by the resulting trust company. (2) Immediately following the completion of a merger or consolidation described in subsection (1) of this section, the Director of the Department of Consumer and Business Services, upon written application of the resulting trust company, shall return to the resulting trust company that portion of the combined security deposits of the trust companies involved in the merger or consolidation which exceeds the deposit required by ORS 709.030 for the combined cash and securities held in trust by the resulting trust company following the merger or consolidation. [Amended by 1957 c.115 §2; 1973 c.797 §216; 1997 c.631 §227]
OR Rev Stat § 709.500 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.500

[Formerly 57.830; renumbered 709.600 in 1997]
OR Rev Stat § 709.520 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.520 - Conversion to out-of-state trust company; conversion to Oregon trust company; procedures.

(1) An Oregon trust company may convert into an out-of-state trust company subject to the prior approval of the supervisory authority having jurisdiction over the proposed resulting trust company. Upon completion of such a conversion, the Oregon charter shall terminate, except for the purposes specified in ORS 711.190. (2) An out-of-state trust company that follows the procedures prescribed by the supervisory authority having jurisdiction over the converting out-of-state trust company shall be granted a charter as an Oregon trust company by the Director of the Department of Consumer and Business Services if the director finds that the converting trust company meets the standards of the Bank Act for organization as an Oregon trust company. An out-of-state trust company may apply to convert to an Oregon trust company and obtain a charter as an Oregon trust company by filing with the director: (a) A certificate signed by the chief executive officer of the converting out-of-state trust company certifying that the board of directors has taken all necessary corporate action in compliance with the provisions of the laws of the supervisory authority having jurisdiction over the converting out-of-state trust company. (b) The articles of incorporation, approved by a majority of the stockholders of the converting out-of-state trust company, for the operation of the out-of-state trust company as an Oregon trust company. [1997 c.631 §230]
OR Rev Stat § 709.525 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.525 - Merger or acquisition; procedures.

An Oregon trust company may merge with or have its outstanding shares acquired by any other trust company if the merger or acquisition of shares is permitted by the laws of the jurisdiction having supervisory authority over the resulting trust company. An Oregon trust company that merges with or engages in a share exchange with another trust company shall follow the procedures set forth in ORS 711.130 to 711.145. [1997 c.631 §231]
OR Rev Stat § 709.530 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.530 - Applicability of ORS 711.190, 711.197 and 711.199 to merging or converting trust company.

ORS 711.190, 711.197 and 711.199 shall be applicable to a merging or converting Oregon trust company. [1997 c.631 §232]
OR Rev Stat § 709.535 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.535 - Sale of assets or transfer of liabilities; approval by stockholders and director; appeal.

(1) Subject to the provisions of this section, and subject to the approval of the Director of the Department of Consumer and Business Services, an Oregon trust company may sell all or any portion of the Oregon trust company’s assets or transfer all or any portion of the Oregon trust company’s liabilities to another trust company outside the ordinary course of business. The parties to the sale or transfer shall document the sale or transfer with an acquisition transaction agreement. The board of directors of each party to the transaction must approve the agreement. (2) If an Oregon trust company proposes to transfer all or substantially all of the Oregon trust company’s assets, liabilities or both outside the ordinary course of business, the Oregon trust company shall send notice of the acquisition transaction to each of the Oregon trust company’s stockholders within 30 days after the board of directors approves the acquisition transaction. The notice shall set forth the substantive provisions of ORS 711.175, 711.180 and 711.185. To be effective, each selling Oregon trust company that is a party to the acquisition transaction shall have the acquisition transaction approved by a two-thirds vote of the outstanding stock of each class of voting shares at a meeting called to consider the acquisition transaction. (3) The Director of the Department of Consumer and Business Services shall approve an acquisition transaction that is subject to this section if the director finds that the acquisition transaction: (a) Conforms with the provisions of the Bank Act; (b) Will not be detrimental to the safety and soundness of an Oregon trust company that is a party to the acquisition transaction; (c) Is not contrary to the public interest; and (d) Is permitted by the supervisory authority, if any, that has jurisdiction over the acquiring trust company, if the acquiring trust company is not an Oregon trust company. (4) If the director disapproves an acquisition transaction that is subject to this section, the director shall state any objections in writing and give the parties to the acquisition transaction an opportunity to take action to obviate the objections. (5) Any party to an acquisition transaction agreement may appeal the director’s decision as provided in ORS 183.415 to 183.500. [1997 c.631 §233; 2007 c.71 §229; 2015 c.244 §80]
OR Rev Stat § 709.540 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.540 - Rights of stockholder of trust company party to merger, share exchange or acquisition.

A stockholder of an Oregon trust company that is a party to a merger, share exchange or acquisition transaction shall have the rights granted stockholders of Oregon stock banks under ORS 711.175, 711.180 and 711.185. [1997 c.631 §234]
OR Rev Stat § 709.600 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.600 - Regulation of trust business by corporations formed prior to adoption of Bank Act; regulation of other business.

(1) Trust business done by corporations created prior to the adoption of the Bank Act (General Laws 1925, chapter 207) shall be subject to regulation by the Director of the Department of Consumer and Business Services and such corporations engaged in trust business are subject to the provisions, including the filing and fee requirements, of ORS chapters 706 to 716. (2) If a corporation subject to subsection (1) of this section also carries on business other than a trust business, the Corporation Commissioner may retain a copy of the articles of incorporation and other filings. As provided in ORS 60.957, such corporations also shall continue to be subject to the provisions, including the filing and fee requirements, of ORS chapter 60. [Formerly 709.500]
OR Rev Stat § 709.980 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.980 - Civil penalties.

(1) Any person who violates ORS 709.270 or 709.280 or any rule adopted under ORS 709.170 (3) shall forfeit a civil penalty in an amount determined by the director of not more than $2,500 for each offense. (2) All money forfeited under this section shall be paid to the State Treasurer to be deposited in the Consumer and Business Services Fund. (3) The civil penalty may be recovered as provided in ORS 706.980. [1975 c.544 §29c]
OR Rev Stat § 711.040 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.040

[Amended by 1973 c.797 §227; 1981 c.192 §18; 1997 c.631 §235; renumbered 711.190 in 1997]
OR Rev Stat § 711.045 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.045

[Amended by 1973 c.797 §229; 1975 c.544 §30; 1977 c.135 §25; 1981 c.192 §19; 1983 c.296 §7; 1997 c.631 §236; renumbered 711.180 in 1997]
OR Rev Stat § 711.055 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.055

[Amended by 1973 c.797 §231; 1997 c.631 §237; renumbered 711.197 in 1997]
OR Rev Stat § 711.060 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.060

[Amended by 1973 c.797 §232; 1997 c.631 §238; renumbered 711.199 in 1997]
OR Rev Stat § 711.065 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.065 - Conversion of Oregon stock bank into insured stock institution.

(1) An Oregon stock bank may convert into an insured stock institution subject to the prior approval of the supervisory authority having jurisdiction over the proposed resulting insured stock institution. (2) Upon completion of the conversion of an Oregon stock bank, its charter shall terminate, except for the purposes specified in ORS 711.190. [1997 c.631 §265]
OR Rev Stat § 711.070 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.070 - Conversion of financial institution into Oregon stock bank; application.

(1) A financial institution with its head office or any branches located in this state that follows the procedures prescribed by the supervisory authority having jurisdiction over the converting financial institution shall be granted a charter of an Oregon stock bank by the Director of the Department of Consumer and Business Services if the director finds that the converting financial institution meets the standards of the Bank Act for the organization of such an Oregon stock bank. (2) A financial institution may apply to convert to an Oregon stock bank and obtain a charter by filing with the director: (a) A certificate signed by the chief executive officer of the converting financial institution certifying that all necessary corporate actions in compliance with the provisions of the laws of the supervisory authority having jurisdiction over the converting financial institution have been taken; and (b) The articles of incorporation for the operation of the financial institution as an Oregon stock bank, in accordance with the requirements of ORS 707.120. [1997 c.631 §266]
OR Rev Stat § 711.075 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.075 - Conversion of Oregon nonstock bank into financial institution.

(1) An Oregon nonstock bank may convert into a financial institution subject to the prior approval of the supervisory authority having jurisdiction over the proposed resulting financial institution. (2) Upon completion of the conversion of an Oregon nonstock bank, its charter shall terminate, except for the purposes specified in ORS 711.190. [1997 c.631 §267]
OR Rev Stat § 711.080 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.080 - Conversion of financial institution into Oregon nonstock bank; application.

(1) A financial institution with its head office or any branches located in this state that follows the procedures prescribed by the supervisory authority having jurisdiction over the converting financial institution shall be granted a charter of an Oregon nonstock bank by the Director of the Department of Consumer and Business Services if the director finds that the converting financial institution meets the standards of the Bank Act for the organization of such an Oregon nonstock bank. (2) An insured nonstock institution may apply to convert to an Oregon nonstock bank and obtain a charter by filing with the director: (a) A certificate signed by the chief executive officer of the converting financial institution certifying that all necessary corporate actions in compliance with the provisions of the laws of the supervisory authority having jurisdiction over the converting financial institution have been taken; and (b) The articles of incorporation for the operation of the insured nonstock institution as an Oregon nonstock bank, in accordance with the requirements of ORS 707.120. [1997 c.631 §268]
OR Rev Stat § 711.085 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.085 - Approval of conversion of Oregon bank by board or shareholders.

If an Oregon bank converts pursuant to ORS 711.065 to 711.080, the conversion must be approved by: (1) A simple majority of the full board of directors of the converting Oregon bank, unless the articles or bylaws of the converting Oregon bank required a greater percentage; and (2) If the converting bank is an Oregon stock bank, a vote of a simple majority of the outstanding stock of each class of voting shares at a meeting called to consider the conversion, unless the articles or bylaws of the converting Oregon bank required a greater percentage. [1997 c.631 §269; 2015 c.244 §81]
OR Rev Stat § 711.090 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.090 - Conversion of Oregon bank or Oregon trust company to corporation or limited liability company.

(1) An Oregon bank or Oregon trust company organized as a corporation under ORS chapter 707 or 709 may be converted to a limited liability company. An Oregon bank or Oregon trust company organized as a limited liability company may be converted to a corporation. The conversion shall be accomplished by the approval of a plan of conversion under ORS 711.095 and the filing of articles of conversion under ORS 711.100. (2) The plan of conversion shall set forth: (a) The name of the Oregon bank or Oregon trust company prior to the conversion; (b) The name of the Oregon bank or Oregon trust company after the conversion; (c) A summary of the material terms and conditions of the conversion; (d) The manner and basis of converting the ownership interests of each owner into the ownership interests or obligations of the converted Oregon bank or Oregon trust company, or into cash or other property, in whole or in part; and (e) Any additional information required by the Director of the Department of Consumer and Business Services. (3) The plan of conversion may set forth other provisions relating to the conversion. [2005 c.134 §6]
OR Rev Stat § 711.100 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.100 - Articles of conversion; effective date of conversion.

(1) After a plan of conversion is approved under ORS 711.095, the converting Oregon bank or Oregon trust company shall file articles of conversion with the Director of the Department of Consumer and Business Services. The articles shall: (a) State the name and type of the business entity prior to conversion; (b) State the name and type of the business entity after conversion; and (c) Include the plan of conversion. (2) The conversion takes effect on the date the articles of conversion are filed with the director, unless the articles of conversion state another effective date. [2005 c.134 §8]
OR Rev Stat § 711.125 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency|Section 711.125 - Merger of Oregon stock bank with insured stock institution; company acquiring shares of Oregon stock bank through share exchange.

(1) Subject to the provisions and requirements of ORS 711.130 to 711.145 and 713.270, any Oregon stock bank may merge with any insured stock institution if the merger is permitted by the supervisory authority having jurisdiction over the resulting insured stock institution. (2) Subject to the provisions and requirements of ORS 711.130 to 711.145 and 713.270, ORS chapter 715 and applicable federal law, a company may acquire all of the outstanding shares of one or more classes or series of stock of an Oregon stock bank through a share exchange. [1997 c.631 §270]