reglab/housing_qa huggingface dataset:
OR Rev Stat § 716.790 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.790 - Computation of guaranty fund.

(1) To determine the amount of a guaranty fund of an Oregon nonstock bank, the total liabilities due and accrued, undivided profits and net earnings since the last declaration of dividends shall be subtracted from the total assets. In determining the value of the assets: (a) Securities, other evidences of indebtedness and other interest-bearing obligations shall be carried at a sum, not to exceed their cost to the Oregon nonstock bank, calculated according to accepted principles of accounting. (b) Real estate shall not be estimated above cost unless its fair market value has been determined by written appraisal made by a certified appraiser and approved by the board of the Oregon nonstock bank, in which case the real estate may be carried at the fair market value determined by the appraisal. If the real estate has been acquired by foreclosure or judgment at more than its actual fair market value, the value of the real estate shall be determined by written appraisal made by a certified appraiser and approved by the board of the Oregon nonstock bank and filed with the Oregon nonstock bank. (c) Except as provided in subsection (2) of this section, the following shall be excluded: (A) Assets that have been disallowed by the Director of the Department of Consumer and Business Services or the directors of the Oregon nonstock bank; (B) Debts owed to an Oregon nonstock bank that have remained due and upon which no interest has been paid for more than one year; and (C) Debts on which a judgment has been recovered which has remained unsatisfied for more than two years. (2) A debt mentioned in subsection (1)(c) of this section may be carried as an asset and will not be excluded in determining the value of the assets if: (a) The director, upon application by the Oregon nonstock bank, fixes a valuation at which the debt may be carried as an asset; or (b) The debt is secured by a first mortgage upon real estate and is carried as an asset at the amount of the debt secured by the mortgage or at the actual fair market value of the real estate as determined by written appraisal made by a certified appraiser and approved by the board of the Oregon nonstock bank and filed with the Oregon nonstock bank, whichever is smaller. [Amended by 1973 c.797 §387; 1997 c.631 §354; 2003 c.576 §551]
OR Rev Stat § 716.800 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.800 - Repayment of contributions made to expense fund and guaranty fund.

(1) Contributions made by the incorporators or directors to the expense fund may be repaid pro rata to the contributors from that portion of the guaranty fund created from earnings if the payments will not reduce the guaranty fund below 10 percent of the total amount due depositors. If the Oregon nonstock bank liquidates before the contributions to the expense fund have been repaid, any contributions to the expense fund remaining after the payment of the expenses of liquidation and the payment to depositors in full may be repaid to the contributors pro rata. (2) When the contributions of the incorporators or directors to the expense fund have been returned to the contributors, the contributions made to the guaranty fund by incorporators or directors may be returned to them pro rata from that portion of the guaranty fund created from the earnings of the Oregon nonstock bank, if the repayments will not reduce the earned portion of the guaranty fund below 10 percent of the amount due depositors. If the Oregon nonstock bank liquidates before the contributions to the guaranty fund have been repaid, any portion of the contributions not needed for the payment of the expenses of liquidation, the payment of depositors in full and the repayment of contributions to the expense fund may be repaid to the contributors pro rata. (3) The board of directors may create a fund to be known as the guarantor’s reimbursement fund. One percent of the net earnings at the close of any dividend period may be paid in the guarantor’s reimbursement fund if it can be done without reducing the dividend rate below one percent per annum. The guarantor’s reimbursement fund may accumulate until it is equal to the amount contributed by the incorporators to the guaranty and expense funds, at which time the fund shall be used to repay the incorporators the amounts contributed by them to the guaranty and expense funds, if that portion of the guaranty fund created from earnings amounts to at least $15,000. [Amended by 1973 c.797 §388; 1997 c.631 §355]
OR Rev Stat § 716.805 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.805 - Determining earnings.

Earnings of a savings bank shall be calculated on an accrual basis according to generally accepted accounting principles. [1973 c.797 §389]
OR Rev Stat § 716.830 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.830 - Payment of dividends; classification of depositors; certificates of deposit; notice of change of rate.

(1) Every Oregon nonstock bank shall regulate the rate of dividends upon the amounts to the credit of its time depositors so that time depositors receive dividends on their deposits in accordance with the terms of their respective deposit agreements with the Oregon nonstock bank, after transferring: (a) To the guaranty fund any amount considered by the directors to be expedient and for the security of the depositors; and (b) To undivided profits, for the purpose of maintaining its rate of dividends, the amount considered by the directors as wise. (2) An Oregon nonstock bank may classify its time depositors according to the character, amount or duration of their deposits with the Oregon nonstock bank, and may regulate its dividends so that each time depositor shall receive the same ratable portion of dividends as all others in the same class of time depositors. (3) Dividends may be apportioned upon unimpaired contributions to the initial guaranty fund and to the expense fund, and may be credited and paid to the contributors. If the guaranty fund of any Oregon nonstock bank is sufficiently large to permit the return of the contributions, the contributors may receive dividends on the contributions not exceeding the highest rate paid to depositors. (4) An Oregon nonstock bank may issue certificates of deposit and agree to pay dividends on the amounts deposited at a rate specified in the certificate for the entire term of the certificate. (5) An Oregon nonstock bank shall not: (a) Declare, credit or pay any dividend except as authorized by a vote of a majority of the board of directors and recorded in its minutes according to the ayes and noes upon each vote. (b) Pay any dividend other than the regular monthly, quarterly, semiannual or annual dividend, or the dividends prescribed in this subsection. (c) Declare, credit or pay dividends on any amount to the credit of a depositor for a longer period than it has been credited, but deposits made not later than the 10th business day of any month, or withdrawn upon one of the last three business days of the month ending any quarterly or semiannual dividend period, may have dividends declared upon them for the whole of the period or month when they were so deposited or withdrawn. If authorized in the bylaws, accounts closed between dividend periods may be credited with dividends at the rate of the last dividend, computed from the last dividend period to the date when closed. (6) A notice posted in an Oregon nonstock bank of a change in the rate of dividends is equivalent to a personal notice. [Amended by 1963 c.409 §1; 1969 c.211 §7; 1971 c.219 §11; 1973 c.797 §390; 1975 c.544 §49; 1983 c.37 §29; 1997 c.631 §356]
OR Rev Stat § 716.840 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.840 - Liability of directors voting improper dividend.

If any dividend is declared and credited in excess of profits earned together with surplus and undivided profits since the last declaration of dividends and appearing to the credit of the Oregon nonstock bank, after making the deduction for expenses and the guaranty fund as provided in ORS 716.780 and 716.830, the directors voting for the dividend shall be jointly and severally liable to the Oregon nonstock bank for the amount of the excess so declared and credited. [Amended by 1973 c.797 §391; 1975 c.544 §49a; 1997 c.631 §357]
OR Rev Stat § 716.850 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.850 - False advertising of surplus or guaranty fund prohibited.

An Oregon nonstock bank shall not use any sign or notice or publish or circulate any advertisement in which the surplus or guaranty fund is stated in excess of its value, as determined under this chapter, unless the nature of the excess clearly appears. [Amended by 1973 c.797 §392; 1997 c.631 §358]
OR Rev Stat § 716.855 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.855

[1975 c.544 §52; 1997 c.631 §359; renumbered 716.991 in 2001]
OR Rev Stat § 716.900 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.900 - Voluntary dissolution of Oregon nonstock banks; priority of payment.

(1) Subject to the written approval of the Director of the Department of Consumer and Business Services and if necessary or expedient, the board of directors of an Oregon nonstock bank may adopt, by resolution passed by the affirmative vote of two-thirds of the directors, at a meeting called for that purpose, a plan to close the business, liquidate the assets, pay money due first to depositors, including those depositors whose deposits are uninsured, second to holders of consumer repurchase agreements, third to holders of capital notes, and then to other creditors, distribute the remaining assets, if any, as provided by this chapter and the plan of liquidation and surrender the corporate charter. The plan shall provide that any assets remaining after payment of depositors, holders of consumer repurchase agreements, capital noteholders and other creditors, and payment of the costs of liquidation and dissolution, shall be distributed to the time depositors and to other persons entitled thereto according to their several interests as determined by this chapter and the plan of liquidation. Each depositor shall receive a share of the remaining assets based on an apportionment as provided by the plan of dissolution approved by the director. (2) Before approving the plan for closing the Oregon nonstock bank under subsection (1) of this section, the director may make a special examination of the condition and affairs of the Oregon nonstock bank. [Amended by 1973 c.797 §394; 1979 c.88 §30; 1983 c.37 §30; 1997 c.631 §360]
OR Rev Stat § 716.905 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.905 - Notice of intention to close; disposition of unclaimed deposits.

(1) Upon approval of a plan under ORS 716.900, the directors shall mail written notice of their intention to close the Oregon nonstock bank to the last-known address of all depositors and other creditors. (2) All deposits and amounts reserved for creditors that remain unclaimed after six months from the date of the written notice required under subsection (1) of this section shall be reported and transferred by the directors to the State Treasurer as unclaimed property under ORS 98.352. (3) A copy of the report of unclaimed deposits and amounts reserved for creditors filed with the State Treasurer shall be filed with the Director of the Department of Consumer and Business Services. [1973 c.797 §395; 1983 c.37 §31; 1993 c.694 §38; 1997 c.631 §361; 2019 c.678 §75; 2021 c.424 §23]
OR Rev Stat § 716.910 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.910 - Report to director; termination of existence.

After the directors of an Oregon nonstock bank have filed their report and deposited the unclaimed funds with the State Treasurer as required under ORS 716.905, the directors shall report their proceedings to the Director of the Department of Consumer and Business Services. Upon filing the report and the petition of the directors with the Director of the Department of Consumer and Business Services, the director shall order the charter surrendered, the directors discharged from liability accruing after the order, and the existence of the Oregon nonstock bank terminated. [Amended by 1973 c.797 §396; 1997 c.631 §362; 2019 c.678 §76]
OR Rev Stat § 716.915 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.915 - Voluntary liquidation.

An Oregon stock savings bank may go into voluntary liquidation in accordance with the procedures and subject to the provisions set forth for institutions in ORS 711.215 to 711.250. [1997 c.631 §365]
OR Rev Stat § 716.991 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 716 - Savings Banks|Section 716.991 - Civil penalties.

Any person who violates ORS 716.850 shall forfeit and pay to the State Treasurer to be deposited in the Consumer and Business Services Fund a civil penalty in an amount determined by the Director of the Department of Consumer and Business Services of not more than $2,500. The civil penalty may be recovered as provided in ORS 706.980. [Formerly 716.855]
OR Rev Stat § 717.205 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 717 - Money Transmission|Section 717.205 - License required to conduct money transmission business; relationship to banking; licensing program.

(1) A person, other than a person that is exempt under ORS 717.210, may not conduct a money transmission business without a license that the Director of the Department of Consumer and Business Services issues in accordance with ORS 717.200 to 717.320, 717.900 and 717.905. (2) A licensee may conduct business in this state at one or more locations that the licensee owns directly or indirectly, through one or more authorized delegates, or both. A licensee is required to obtain only one license under ORS 717.200 to 717.320, 717.900 and 717.905. (3) Conducting a money transmission business does not alone constitute banking or branch banking for the purposes of the Bank Act. (4) The director has jurisdiction over a person that conducts a money transmission business whether or not the person is a licensee or authorized delegate. (5) The director, consistent with the requirements of ORS 717.200 to 717.320, 717.900 and 717.905, may administer a program to issue and renew licenses for money-transmission businesses by means of an agreement with the Nationwide Multistate Licensing System. [1999 c.571 §3; 2015 c.118 §7]
OR Rev Stat § 717.210 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 717 - Money Transmission|Section 717.210 - Exemptions; waiver; rules.

(1) ORS 717.200 to 717.320, 717.900 and 717.905 do not apply to: (a) Any company that accepts deposits in this state and that is insured under the Federal Deposit Insurance Act, 12 U.S.C. 1811 et seq., as amended. (b) Credit unions or trust companies. (c) The United States Government or any department, agency or instrumentality thereof. (d) The United States Postal Service. (e) Any state or political subdivision of a state. (f) The provision or electronic transfer of government benefits for any federal, state or county government or other agency as defined in the Federal Reserve Board Regulation E (12 C.F.R. part 205), by a contractor for and on behalf of the United States Government or any department, agency or instrumentality of the United States, or any state or any political subdivision of a state. (g) The provision or handling of electronic or other transfer of escrowed moneys by an escrow agent licensed under ORS 696.511 to the extent that the escrow agent is: (A) Closing an escrow, as defined in ORS 696.505; (B) Engaging in activity related to a collection escrow, as defined in ORS 696.505; or (C) Serving as a trustee of a trust deed in accordance with ORS 86.713. (h) Authorized delegates of a licensee, acting within the scope of authority conferred by a written contract as described in ORS 717.270. (i) Any bank holding company as defined in the federal Bank Holding Company Act of 1956, 12 U.S.C. 1841 et seq., as amended, or any financial holding company as defined in ORS 706.008. (j) Any savings and loan holding company as defined in 12 U.S.C. 1467a (a)(1)(D), as amended. (2) The Director of the Department of Consumer and Business Services by rule or order may modify or waive the application of ORS 717.200 to 717.320, 717.900 and 717.905 to any person or group of persons if the director determines that adequate regulation of the person or group of persons is provided by law or by another agency of this state. (3) The director by rule or order may temporarily suspend the application of ORS 717.200 to 717.320, 717.900 and 717.905 to any person or group of persons while the director considers whether an exemption should be granted and during the pendency of any rulemaking proceeding proposing to create an exemption. [1999 c.571 §4; 2001 c.377 §50; 2013 c.444 §3]
OR Rev Stat § 717.215 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 717 - Money Transmission|Section 717.215 - Requirements for licensees; net worth; permissible investments.

(1) Each licensee shall at all times have a net worth of not less than $100,000, calculated in accordance with generally accepted accounting principles. Licensees engaging in money transmission at more than one location or through authorized delegates shall have an additional net worth of $25,000 per location in this state, not to exceed a maximum of $500,000. (2) Every applicant, at the time of filing of an application for a license under ORS 717.200 to 717.320, 717.900 and 717.905 and at all times after a license is issued, shall be in good standing in the state of its incorporation or organization. (3) Each licensee shall at all times possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments issued or sold by the licensee in the United States. This requirement may be waived by the Director of the Department of Consumer and Business Services if the dollar volume of a licensee’s outstanding payment instruments does not exceed the amount of any security device posted by the licensee under ORS 717.225. (4) In the event of the bankruptcy of the licensee, permissible investments, even if commingled with other assets of the licensee, are considered by operation of law to be held in trust for the benefit of the purchasers and holders of the licensee’s outstanding payment instruments. [1999 c.571 §5]
OR Rev Stat § 717.230 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 717 - Money Transmission|Section 717.230 - Application fee.

At the time an applicant submits an application, the applicant shall pay to the Director of the Department of Consumer and Business Services a fee of $1,000 for a license term that expires at the end of the calendar year in which the applicant submitted the application. [1999 c.571 §8; 2015 c.118 §9]
OR Rev Stat § 717.240 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 717 - Money Transmission|Section 717.240 - License renewal; annual fee; renewal report; rules.

(1)(a) To renew a license, each licensee shall pay to the Director of the Department of Consumer and Business Services a nonrefundable annual fee of $500 or a fee that the director sets by rule in an amount that does not exceed $1,000. (b) In addition to paying the fee described in paragraph (a) of this subsection, a licensee shall provide information necessary for the director to evaluate the licensee’s renewal application. The director shall prescribe the information required by rule. The director may require a licensee to renew a license under the terms of the director’s agreement with the Nationwide Multistate Licensing System. (2) At the time the licensee pays the renewal fee, the licensee shall submit an annual report on a date and in a form and format the director prescribes by rule. The annual report must describe the condition and operations of the money transmission business during the preceding calendar year and must include: (a) A copy of the licensee’s most recent audited consolidated annual financial statement, including a balance sheet, statement of income or loss, statement of changes in shareholder equity and statement of changes in financial position. In the case of a licensee that is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation may be filed in lieu of the licensee’s audited annual financial statement. (b) For the most recent quarter for which data are available before the date of the renewal application, but not more than 120 days before the renewal date, a description of the number of payment instruments the licensee sold in this state, the dollar amount of the payment instruments and the dollar amount of payment instruments currently outstanding. (c) A description of any material changes to any of the information the licensee submitted on the licensee’s original application that the licensee has not previously reported to the director on any other report required to be filed with the director. (d) A list of the licensee’s permissible investments. (e) A list of the locations within this state at which the licensee or an authorized delegate of the licensee is conducting business regulated by ORS 717.200 to 717.320, 717.900 and 717.905. [1999 c.571 §10; 2015 c.118 §10]
OR Rev Stat § 717.245 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 717 - Money Transmission|Section 717.245 - Events requiring filing of report with director.

Within 15 days following the occurrence of any one of the events listed in this section, a licensee shall file a written report with the Director of the Department of Consumer and Business Services describing the event and the event’s expected effect on the licensee’s activities in this state: (1) The filing for bankruptcy or reorganization by the licensee or the licensee’s sole owner; (2) The commencement of revocation or suspension proceedings against the licensee by any state or governmental authority with regard to the licensee’s money transmission activities; (3) Any felony indictment of the licensee or any of its key officers or directors; (4) Any felony conviction of the licensee or any of its key officers or directors; or (5) The theft of payment instruments from the licensee in an amount equal to or greater than 10 percent of a licensee’s monthly amount of outstanding payment instruments. [1999 c.571 §11]