reglab/housing_qa huggingface dataset:
OR Rev Stat § 716.070 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 an amount determined by the Director of the Department of Consumer and Business Services. They shall also enter into an agreement or undertaking with the director as trustee for the depositors with the Oregon nonstock bank to make further contributions in cash to the expense fund of the Oregon nonstock bank as may be necessary to pay the operating expenses until the Oregon nonstock bank can pay them from its earnings, in addition to the dividends as declared and credited to its depositors. The agreement or undertaking shall fix the liability of the incorporators jointly and severally for a reasonable amount as approved or determined by the director. In addition to the undertaking of the incorporators, the director may require a surety bond executed by an entity authorized to transact, within this state, the business of surety, or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008. The agreement or undertaking and letter of credit or surety bond shall be filed in the office of the director. (2) The amounts contributed to the expense fund of the Oregon nonstock bank by the incorporators is not a liability of the Oregon nonstock bank except as provided in ORS 716.800. [Amended by 1973 c.797 §353; 1991 c.331 §117; 1997 c.631 §337]
OR Rev Stat § 716.080 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 files with or submits to the director: (a) A copy of its articles of incorporation, as required by ORS 716.040; (b) A list of incorporators, showing name, address, sums paid into the guaranty and expense fund, sworn to by the president or cashier; (c) The sworn statement of an officer that all requirements of law have been complied with; and (d) A list of the directors and officers elected. (2) If, upon examination, the director determines that the Oregon nonstock bank has complied with the applicable requirements of ORS 716.028 to 716.070, the director shall issue to the Oregon nonstock bank a charter to do business as an Oregon nonstock bank under this chapter. [Amended by 1973 c.797 §354; 1987 c.216 §6; 1997 c.631 §338]
OR Rev Stat § 716.100 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 charter within one year after the date of filing its articles of incorporation, the Oregon savings bank shall cease to exist and the articles of incorporation are void. (2) All persons purporting to act as or on behalf of an Oregon savings bank, knowing there was no incorporation, are jointly and severally liable for all liabilities created while so acting. [Amended by 1973 c.797 §356; 1997 c.631 §339]
OR Rev Stat § 716.120 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 the Director of the Department of Consumer and Business Services; and (2) The director is satisfied that either: (a) In the case of an Oregon stock savings bank, the incorporators have obtained paid subscriptions in at least the amount of the initial approved paid-in capital; or (b) In the case of an Oregon nonstock bank, the incorporators have made the deposit of the: (A) Initial guaranty fund required by ORS 716.060. (B) Expense fund required by ORS 716.070, and, if the director so requires, have entered into the agreement or undertaking with the director and filed the agreement and the security therefor as prescribed in ORS 716.070. [Amended by 1973 c.797 §358; 1997 c.631 §340]
OR Rev Stat § 716.135 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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, so long as its articles of incorporation as amended contain only such provisions as might be lawfully contained in original articles of incorporation at the time of making such amendment. (2) In particular, and without limitation upon such general power of amendment, an Oregon nonstock bank may amend its articles of incorporation, from time to time, so as: (a) To change its corporate name. (b) To change its period of duration. (c) To change, enlarge or diminish its corporate purposes. [1979 c.88 §18; 1997 c.631 §341]
OR Rev Stat § 716.140 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 nonstock bank. Any number of amendments may be submitted to the directors and voted upon by them at one meeting. [1979 c.88 §19; 1997 c.631 §342]
OR Rev Stat § 716.145 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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, its secretary or an assistant secretary, and shall set forth: (1) The name of the Oregon nonstock bank. (2) If the amendment alters or changes any provision of the original or amended articles of incorporation, an identification by reference or description of the affected provision and a statement of its text as it is amended to read. If the amendment strikes or deletes any provision of the original or amended articles of incorporation, an identification by reference or description of the provision so stricken or deleted and a statement that it is stricken out or deleted. If the amendment is an addition to the original or amended articles of incorporation, a statement of that fact and the full text of each provision added. (3) The date of the adoption of the amendment by the directors. [1979 c.88 §20; 1997 c.631 §343]
OR Rev Stat § 716.160 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 of incorporation. The restated articles of incorporation may contain any changes in the articles of incorporation that could be made by amendment regularly adopted. Adoption of restated articles of incorporation containing any such changes shall have the effect of amending the existing articles of incorporation to conform to the restated articles of incorporation. Restated articles of incorporation shall contain a statement that they supersede the theretofore existing articles of incorporation and amendments thereto. (2) Restated articles of incorporation shall contain all the statements required by this chapter to be included in original articles of incorporation except that no statement shall be made with respect to the number, names and addresses of directors constituting the initial board of directors or the name of each incorporator, or the sums each incorporator contributed to the initial guaranty fund. (3) Restated articles of incorporation when executed and filed in the manner prescribed by this chapter for articles of amendment shall supersede the theretofore existing articles of incorporation and amendments thereto. The Director of the Department of Consumer and Business Services shall upon request certify a copy of the articles of incorporation, or the articles of incorporation as restated, or any amendments to either thereof. (4) The restated articles of incorporation, when submitted for filing, shall be accompanied by a statement, executed in duplicate by the Oregon nonstock bank by an authorized officer, setting forth: (a) The name of the Oregon nonstock bank. (b) The date of the adoption of the restated articles of incorporation by the directors. [1979 c.88 §23; 1997 c.631 §344]
OR Rev Stat § 716.180 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 or adopt new bylaws shall be vested in the board of directors unless, in the case of an Oregon stock savings bank, such power is reserved to the stockholders by the articles of incorporation or bylaws. The bylaws may contain any provisions for the regulation and management of the affairs of the Oregon savings bank as are not inconsistent with law or the articles of incorporation. [1997 c.631 §364]
OR Rev Stat § 716.185 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 same as any of its places of business. (2) A registered agent shall be: (a) An individual who resides in this state and whose business office is identical to the registered office; (b) A domestic corporation, domestic limited liability company, domestic professional corporation or domestic nonprofit corporation whose business office is identical to the registered office; or (c) A foreign corporation, foreign limited liability company, foreign professional corporation or foreign nonprofit corporation authorized to transact business in this state whose business office is identical to the registered office. [2005 c.192 §8]
OR Rev Stat § 716.187 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 Services for filing a statement of change that sets forth: (a) The name of the Oregon savings bank; (b) If the registered office is to be changed, the address, including street and number, of the new registered office; (c) If the registered agent is to be changed, the name of the new registered agent and that the new agent has consented to the appointment; and (d) That after the change or changes are made, the street addresses of its registered office and the business office of its registered agent will be identical. (2) If a registered agent changes the street address of the agent’s business office, the registered agent shall change the street address of the registered office of the Oregon savings bank for which the agent is the registered agent by notifying the Oregon savings bank in writing of the change and signing, either manually or in facsimile, and delivering to the director a statement that complies with the requirements of subsection (1) of this section and recites that the Oregon savings bank has been notified of the change. (3) The filing of the statement by the director terminates the existing registered office or agent, or both, on the effective date of the filing and establishes the newly appointed registered office or agent, or both, as that of the Oregon savings bank. [2005 c.192 §9]
OR Rev Stat § 716.190 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 giving notice in the form of a copy of the statement to the Oregon savings bank. The statement may include a statement that the registered office is also discontinued. (2) Upon delivery of the signed statement, the director shall file the resignation statement. The copy of the statement given to the Oregon savings bank under subsection (1) of this section shall be addressed to the Oregon savings bank at its mailing address or principal office as shown by the records of the director. (3) The agency appointment is terminated and the registered office discontinued, if so provided, on the 31st day after the date on which the statement was filed by the director unless, prior to that date, the Oregon savings bank appoints a successor registered agent as provided in ORS 716.187, thereby terminating the capacity of such agent. [2005 c.192 §10]
OR Rev Stat § 716.195 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 demand required or permitted by law to be served upon the Oregon savings bank may be served. (2) The Director of the Department of Consumer and Business Services shall be an agent of an Oregon savings bank, including a dissolved Oregon savings bank, upon whom any such process, notice or demand may be served whenever the Oregon savings bank fails to appoint or maintain a registered agent in this state or whenever the Oregon savings bank’s registered agent cannot with reasonable diligence be found at the registered office. (3) Service shall be made on the director by: (a) Serving the director or a clerk on duty at the office of the director a copy of the process, notice or demand, with any papers required by law to be delivered in connection with the service, and the required fee for each party being served or by mailing to the office of the director a copy of the process, notice or demand and the required fee for each party being served by certified or registered mail; (b) Transmittal by the person instituting the proceedings of notice of the service on the director and a copy of the process, notice or demand and accompanying papers to the Oregon savings bank being served by certified or registered mail: (A) At the last registered office of the Oregon savings bank as shown by the records of the director; and (B) At such address the use of which the person initiating the proceedings knows or, on the basis of reasonable inquiry, has reason to believe is most likely to result in actual notice; and (c) Filing with the appropriate court or other body, as part of the return of service, the return receipt of mailing and an affidavit of the person initiating the proceedings stating that this section has been complied with. (4) The director shall keep a record of all processes, notices and demands served upon the director under this section. (5) After completion of initial service upon the director, no additional documents need be served upon the director to maintain jurisdiction in the same proceeding or to give notice of any motion or provisional process. (6) Nothing contained in this section shall limit or affect the right to serve any process, notice or demand required or permitted by law to be served upon an Oregon savings bank in any other manner now or hereafter permitted by law, or enlarge the purposes for which service on the director is permitted where such purposes are limited by other provisions of law. [2005 c.192 §11]
OR Rev Stat § 716.205 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 may fix the fee to be paid directors who are not acting as officers or employees of the savings bank. (2) An attorney for a savings bank, although a director thereof, may receive a reasonable compensation for professional services. [1973 c.797 §359]
OR Rev Stat § 716.210 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 of not fewer than five members. (2) A person shall not be a director of an Oregon savings bank if the person: (a) Has been adjudicated a bankrupt, taken the benefit of any insolvency law or made a general assignment for the benefit of creditors within the 10 years immediately prior to the person’s election as a director. (b) Has allowed a judgment recovered against the person for a sum of money to remain unsatisfied of record or unsecured on appeal for a period of more than three months. [Amended by 1961 c.278 §1; 1971 c.219 §1; 1973 c.797 §360; 1983 c.37 §26; 1985 c.786 §47; 1997 c.631 §345]
OR Rev Stat § 716.320 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 regular meeting of the board if: (a) The board member’s conduct is of such character as to be injurious to the Oregon nonstock bank; (b) A written copy of the charges made against the board member has been served upon the board member personally, and upon the Director of the Department of Consumer and Business Services, at least two weeks before the meeting; and (c) The vote of the directors by ayes and noes is entered in the record of the minutes of the meeting. (2) The office of a director of an Oregon nonstock bank immediately becomes vacant if the director: (a) Becomes disqualified for any of the reasons specified in ORS 716.210 (2). (b) Has failed to attend the regular meetings of the board of directors, or to perform any of the duties as director, for a period of six successive months, unless excused by the board for the failure. (3) A director who has forfeited or vacated office is not eligible for reelection unless the forfeiture or vacancy occurred solely by reason of the director’s neglect of official duties as prescribed in subsection (2)(b) of this section. [Amended by 1961 c.278 §2; 1973 c.797 §364; 1997 c.631 §346]
OR Rev Stat § 716.410 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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]
OR Rev Stat § 716.420 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 to a limitation of five percent of the assets of the Oregon savings bank, in the obligations specified in ORS 708A.115 (2). (3) In shares of any mutual fund or unit trust, the assets of which are invested solely in obligations described in and limited under ORS 708A.115. [Amended by 1959 c.185 §12; 1961 c.157 §1; 1963 c.407 §1; 1971 c.219 §2; 1973 c.797 §367; 1981 c.192 §26; 1985 c.786 §53; 1997 c.631 §347]
OR Rev Stat § 716.441 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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 one of the three highest grades by a recognized investment service organization that has been engaged regularly and continuously for a period of not less than 10 years in rating bonds. (2) Not more than 15 percent of the assets of a savings bank may be invested under this section and not more than three percent of its assets may be invested in any one corporation. [1959 c.185 §11 (enacted in lieu of 716.440); 1973 c.797 §368]
OR Rev Stat § 716.460 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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, secured by the pledge and assignment of a time or savings account or any other kind of deposit account, including but not limited to an automatic savings to checking transfer account or a negotiable order of withdrawal account, if the account is fully or partially federally insured as collateral security for the payment of the notes. The loan shall not exceed 100 percent of the balance due the owner of the time or savings account. [Amended by 1961 c.239 §1; 1973 c.797 §370; 1981 c.192 §28]
OR Rev Stat § 716.470 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 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]
OR Rev Stat § 716.480 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.480

[Amended by 1973 c.797 §373; renumbered 716.578]
OR Rev Stat § 716.490 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.490

[Amended by 1973 c.797 §374; renumbered 716.582]
OR Rev Stat § 716.500 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.500

[Amended by 1973 c.797 §375; renumbered 716.584]