reglab/housing_qa huggingface dataset:
OR Rev Stat § 708A.488 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.488 - Withdrawal or payment conditioned on advance notice.

If an insured institution conditions withdrawal or payment on advance notice, for purposes of ORS 708A.455 to 708A.515, a request for withdrawal or payment is immediately effective and a notice of intent to withdraw is a request for withdrawal. [2015 c.244 §55] Note: 708A.488 was added to and made a part of 708A.455 to 708A.515 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 708A.490 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.490 - Joint account; payment to any party to account; payment to others.

An insured institution may pay any sums in a joint account, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the party demands payment. An insured institution may not pay the personal representative or heirs of a deceased party unless proofs of death are presented to the insured institution showing that the decedent was the last surviving party or unless no right of survivorship exists under ORS 708A.470. [1997 c.631 §179; 2015 c.244 §60]
OR Rev Stat § 708A.495 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.495 - P.O.D. account; payment to any original party; payment to others.

An insured institution may pay any P.O.D. account, on request, to any original party to the account. The insured institution may pay, on request, the P.O.D. payee or the personal representative or heirs of a deceased P.O.D. payee upon presentation to the insured institution of proof of death showing that the P.O.D. payee survived all persons named as original parties. The insured institution may pay the personal representative or heirs of a deceased original party if proof of death is presented to the insured institution showing that the decedent survived all other persons named on the account either as an original party or as P.O.D. payee. [1997 c.631 §180; 2015 c.244 §61]
OR Rev Stat § 708A.500 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.500 - Trust account; payment to any trustee; payment to others.

An insured institution may pay any trust account, on request, to any trustee. Unless the insured institution has received written notice that the beneficiary has a vested interest that does not depend upon the beneficiary’s surviving the trustee, the insured institution may pay the personal representative or heirs of a deceased trustee if proof of death is presented to the insured institution showing that the decedent survived all other persons named on the account either as trustee or beneficiary. The insured institution may pay, on request, the beneficiary upon presentation to the insured institution of proof of death showing that the beneficiary or beneficiaries survived all persons named as trustees. [1997 c.631 §181; 2015 c.244 §62]
OR Rev Stat § 708A.505 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.505 - Discharge of institution from liability for payments made; conditions.

A payment that an insured institution makes under ORS 708A.485, 708A.490, 708A.495 or 708A.500 discharges the insured institution from all claims for amounts the insured institution paid whether or not the payment is consistent with the beneficial ownership of the account as between parties, P.O.D. payees or beneficiaries, or successors of the parties, P.O.D. payees or beneficiaries. The protection given by this section does not extend to payments an insured institution makes after receiving a written notice from any party able to request present payment to the effect that withdrawals in accordance with the terms of the account should not be permitted. Unless the person that gives the notice withdraws the notice, the successor of any deceased party must concur in any demand for withdrawal in order for the protections that this section provides to extend to the insured institution. Any other notice or information shown to have been available to an insured institution does not affect the insured institution’s right to protection under this section. The protection that this section provides does not affect the rights of parties in disputes between the parties or the parties’ successors concerning the beneficial ownership of funds in, or withdrawn from, multiple-party accounts. [1997 c.631 §182; 2015 c.244 §63]
OR Rev Stat § 708A.510 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.510 - Right of institution to setoff; amount.

Without qualifying any other statutory or common law right to setoff or lien and subject to any contractual provision, if a party to a multiple-party account is indebted to an insured institution, the insured institution has a right to setoff against the account in which the party has or had a present right of withdrawal immediately before the party’s death. The amount of the account that is subject to setoff is the proportion to which the debtor is, or was immediately before the death of the debtor, beneficially entitled and, in the absence of proof of net contributions, to an equal share with all parties that have present rights of withdrawal. [1997 c.631 §183; 2015 c.244 §64]
OR Rev Stat § 708A.515 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.515 - Designation of agent for account; powers of agent.

ORS 708A.455 to 708A.465 do not preclude a party to an account from adding the name of another person to the account with the designation "agent." The agent does not have a present or future interest in the sums on deposit in such account, but the insured institution may honor requests from the agent for payment from the account, unless the principal is deceased at the time the agent requests the payment and the insured institution has actual knowledge of the principal’s death. An insured institution’s payment from the account at the agent’s request discharges the insured institution from all claims for amounts the insured institution paid. [1997 c.631 §184; 2015 c.244 §65]
OR Rev Stat § 708A.555 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.555 - Generally accepted accounting principles.

Except as otherwise provided in the Bank Act or other applicable law, institutions shall keep books and records in accordance with accounting principles generally accepted in the United States (GAAP), consistently applied. [1997 c.631 §186; 2015 c.244 §66]
OR Rev Stat § 708A.560 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.560 - Real and personal property used in institution’s business.

(1) Real estate, furniture, fixtures, vaults and safe deposit boxes necessary or convenient for the operation of an institution’s business shall be carried on the books of the institution in an amount not to exceed 50 percent of its capital, as defined in ORS 708A.290. (2) Within guidelines established by rules promulgated under ORS 183.310, 183.315, 183.330, 183.335 and 183.341 to 183.410 the Director of the Department of Consumer and Business Services may authorize an institution to exceed the limitations prescribed in this section. (3) Personal property acquired for lease to others in accordance with ORS 708A.180 is not subject to the limitations of this section. [1997 c.631 §187]
OR Rev Stat § 708A.565 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.565 - Certain stock.

An institution shall carry on the institution’s books, at a value that does not exceed 15 percent of the stockholders’ equity in the institution, any investments in stock of or membership interests in a company that engages in activities in which a financial holding company, a bank holding company or a nonbanking subsidiary of a financial holding company or bank holding company could engage under ORS 708A.120 (4). [1997 c.631 §188; 1999 c.59 §217; 2001 c.377 §49; 2015 c.244 §67]
OR Rev Stat § 708A.570 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.570 - Community development corporations.

Investments in community development corporations under ORS 708A.150 must be accounted for on an institution’s books as "other assets." If the community development corporation is organized under the Oregon Nonprofit Corporation Law, the stock of the corporation purchased by the institution, or the institution’s membership in the corporation if it does not issue stock, shall be carried on the books of the institution at a value not exceeding $1. [1997 c.631 §189]
OR Rev Stat § 708A.575 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.575 - Market-making corporations.

An institution shall carry on the institution’s books, at a value that does not exceed $1, any investments in a corporation or limited liability company that is engaged in the business of purchasing the institution’s stock for purposes of holding and making a market for the stock. [1997 c.631 §190; 2015 c.244 §68]
OR Rev Stat § 708A.580 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.580 - Capital-strengthening corporations.

(1) An institution may not carry on the institution’s books, at a value in excess of 20 percent of the institution’s capital, the aggregate amount of stock of or membership interests in a corporation or limited liability company the institution acquired under ORS 708A.125 for the purpose of strengthening the institution’s capital or eliminating undesirable assets. (2) The institution each year shall amortize the book value of the stock or membership interests by not less than five percent of the original book value of the stock or membership interests. [1997 c.631 §191; 2015 c.244 §69]
OR Rev Stat § 708A.585 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.585 - Claims and judgments as assets.

An institution may not carry claims against the estates of insolvent persons or deceased or incompetent persons and judgments against any person as an asset on the institution’s books for more than two years, unless the Director of the Department of Consumer and Business Services grants a written extension of time. This section does not apply to loans an institution makes to the personal representative, guardian, conservator or trustee of any estate. [1997 c.631 §192; 2015 c.244 §70]
OR Rev Stat § 708A.590 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.590 - Charging off real estate assets; use of generally accepted accounting principles.

(1) An institution that owns or holds any real estate other than as permitted in the Bank Act shall immediately charge the book value of the real estate to profit and loss or otherwise remove the real estate from the institution’s books. (2) An institution shall at all times value and record on the institution’s books and records, in accordance with generally accepted accounting principles, real estate that the institution owns or holds in accordance with ORS 708A.175 (3) or (4). [1997 c.631 §193; 2011 c.478 §1]
OR Rev Stat § 708A.595 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.595 - Charging off personal property assets.

An institution may not carry goods, as defined in ORS 79.0102, and chattels, as defined in ORS 87.142, that the institution owns on account of collecting the institution’s debts on the institution’s books for more than two years after acquiring the goods or chattels, unless the Director of the Department of Consumer and Business Services extends the two-year period. [1997 c.631 §194; 2015 c.244 §71]
OR Rev Stat § 708A.600 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.600 - Charging off losses.

An institution shall charge off all debts: (1) On which interest is past due and unpaid for 12 months, unless the debt is fully secured and in process of collection; (2) That an examiner has classified as a loss; or (3) Upon the instruction of the Director of the Department of Consumer and Business Services. [1997 c.631 §195; 2015 c.244 §72]
OR Rev Stat § 708A.605 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.605 - Separate accounts for foreign branches.

An institution shall maintain the accounts of each foreign branch independently of the accounts of other foreign branches established by it and of its home office. At the end of each year, the profit or loss accrued at each branch shall be transferred to the general ledger as a separate item. [1997 c.631 §196]
OR Rev Stat § 708A.630 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.630 - Negligent, excessive, dishonest or unlawful loans; civil liability of officer, director or employee.

Any officer, director or employee of an institution who knowingly or negligently loans the funds of the institution in a dishonest or unlawful manner or permits the funds of the institution to be so loaned, is liable for the full amount of the loan and for all damages that the institution, its stockholders or any other person has sustained in consequence thereof. The liability for the loan continues until the loan, with interest, is paid in full without loss to the institution. The amount of the liability may be collected by suit or action without first attempting to collect from the debtor. [1997 c.631 §197a]
OR Rev Stat § 708A.635 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.635 - Written policies regarding reporting to and obtaining approval of board; duty to report.

Institutions shall develop written policies regarding the types of matters that shall be reported to and approved by the institution’s board of directors. An officer, director or employee of an institution shall not conceal from or fail to report to the board of directors of the institution any such matter. [1997 c.631 §198]
OR Rev Stat § 708A.640 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.640 - Receiving illegal compensation; misapplication of property and credit.

(1) An officer, director, agent or employee of an institution shall not ask for, receive or agree to receive any money, property or thing of value or of personal advantage, for: (a) Procuring or endeavoring to procure for any person any loan from, or the purchase or discount of any paper, note, draft, check or bill of exchange by, the institution. (b) Permitting any person to overdraw any account with the institution. (2) An officer, director, stockholder, employee or agent of an institution shall not abstract or willfully misapply any of the property of the institution, or willfully misapply its credit. [1997 c.631 §199]
OR Rev Stat § 708A.645 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.645 - Illegal guaranty or indorsement.

An officer, director or employee of an institution shall not make or deliver any guaranty or indorsement on behalf of the institution whereby the institution becomes liable upon any of its discounted notes, bills or obligations, in any sum beyond the amount of loans and discounts that the institution may legally make. [1997 c.631 §200]
OR Rev Stat § 708A.670 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.670 - Definitions for ORS 708A.670 and 708A.675.

As used in this section and ORS 708A.675: (1) "Financial exploitation" has the meaning given that term in ORS 124.050. (2) "Financial institution" means a financial institution or a trust company as those terms are defined in ORS 706.008. (3) "Law enforcement agency" has the meaning given that term in ORS 124.050. (4) "Vulnerable person" has the meaning given that term in ORS 124.100. (5) "Vulnerable person’s account" means a contract of deposit of funds between a depositor and a financial institution where: (a) The account is owned by a vulnerable person, whether individually or with one or more other persons; or (b) A vulnerable person is a beneficiary of the account, including of a formal or informal trust account, a payable on death account, a conservatorship account or a guardianship account. [2017 c.290 §1] Note: 708A.670 to 708A.680 were enacted into law by the Legislative Assembly but were not added to or made a part of the Bank Act or any chapter or series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
OR Rev Stat § 708A.680 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.680 - Contractual rights not restricted.

The authority granted to financial institutions under ORS 708A.675 is in addition to and not in lieu of any right a financial institution may have under the financial institution’s deposit or other contract with the financial institution’s customer. Nothing in ORS 708A.675: (1) Restricts the rights of a financial institution to take or refuse to take any action pursuant to the financial institution’s deposit or other contract with the financial institution’s customer; or (2) Requires a financial institution to comply with any provision of ORS 708A.675 when acting pursuant to the provisions of the financial institution’s deposit or other contract with the financial institution’s customer. [2017 c.290 §3] Note: See note under 708A.670.
OR Rev Stat § 708A.990 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.990 - Civil penalties.

(1) An institution that violates ORS 708A.560 shall forfeit a civil penalty in an amount the Director of the Department of Consumer and Business Services determines that is not more than $50,000. (2) An Oregon commercial bank that violates ORS 708A.420 shall forfeit a civil penalty in an amount the director determines that is not more than $10,000. In addition, the director may revoke the Oregon commercial bank’s charter. (3) All money forfeited under subsections (1) and (2) of this section shall be paid to the State Treasurer for deposit in the Consumer and Business Services Fund. (4) The director may recover a civil penalty as provided in ORS 706.980. [1997 c.631 §201; 2015 c.244 §74]
OR Rev Stat § 708A.995 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 708A - Regulation of Institutions Generally|Section 708A.995 - Criminal penalties.

Violation knowingly of any of the provisions of ORS 708A.635 is a Class C felony. [1997 c.631 §202]
OR Rev Stat § 709.030 (2021)
2021 Oregon Revised Statutes|Volume : 18 - Financial Institutions, Insurance|Chapter 709 - Regulation of Trust Business|Section 709.030 - Approval to transact trust business; exceptions; deposit of cash, securities, letter of credit or surety bond with director; amount.

(1) Except as provided in subsection (4) of this section, no person other than a trust company shall transact a trust business in this state. Except as provided in subsection (4) of this section, before a person transacts any trust business in this state, the person shall obtain the approval of the Director of the Department of Consumer and Business Services if required under ORS 709.005 and shall deposit with the director, as security and as a pledge for the faithful conduct of its trust business: (a) Cash or interest-bearing securities that have a ready market value; (b) A surety bond issued by a surety company authorized to transact business in this state and in a form approved by the director, under which the principal and surety indemnify the several owners of the fund held in trust against loss due to the failure of the trust company; (c) An irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008; or (d) Any combination of cash, letters of credit, interest-bearing securities and surety bond. (2) If the cash and securities held in trust amount to less than $1 million, the deposit, bond, letters of credit or combination thereof shall be $50,000. If the cash and securities held in trust amount to at least $1 million but do not exceed $1.5 million, the deposit, bond, letters of credit or combination thereof shall be $100,000. For each $500,000 or fraction thereof in excess of $1.5 million held in trust, the deposit, bond, or letters of credit or combination thereof shall be increased an additional $25,000, except a trust company shall not be required to increase the deposit, bond, letters of credit or combination thereof to an amount in excess of $1 million. (3) The securities shall be deposited with the director and held by the director as trustee for the beneficiaries of the trust funds held by the trust company. (4) A person shall not be required to be a trust company if the person: (a) Does not and will not regularly transact trust business in the ordinary course of the person’s business; (b) Acts in a manner authorized by law and in the scope of authority as an agent of a trust company; (c) Is an attorney rendering a service customarily performed by an attorney; (d) Is acting as trustee under a deed of trust; (e) Is a licensed real estate broker or principal real estate broker rendering a service customarily performed by a broker; (f) Is a licensed escrow agent rendering a service customarily performed by an escrow agent; or (g) Is exempt from the provisions of subsection (1) of this section by rule of the director. [Amended by 1957 c.82 §1; 1967 c.139 §1; 1973 c.797 §183a; 1979 c.88 §12; 1981 c.192 §14; 1985 c.800 §1; 1991 c.331 §114; 1997 c.631 §203; 2001 c.300 §81; 2007 c.71 §228]