reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.756 - Determination and authorization of indemnification.

(1) A banking institution may not indemnify a director under ORS 707.746 unless authorized in the specific case after a determination has been made that indemnification of the director is permissible in the circumstances because the director has met the standard of conduct set forth in ORS 707.746.
(2) A determination that indemnification of a director is permissible shall be made:
(a) By the board of directors by majority vote of a quorum consisting of directors not at the time parties to the proceeding;
(b) If a quorum cannot be obtained under paragraph (a) of this subsection, by a majority vote of a committee duly designated by the board of directors consisting solely of two or more directors not at the time parties to the proceeding. However, directors who are parties to the proceeding may participate in designation of the committee;
(c) By special legal counsel selected by the board of directors or its committee in the manner prescribed in paragraph (a) or (b) of this subsection, or if a quorum of the board of directors cannot be obtained under paragraph (a) of this subsection and a committee cannot be designated under paragraph (b) of this subsection, the special legal counsel shall be selected by majority vote of the full board of directors, including directors who are parties to the proceeding; or
(d) In the case of an institution or Oregon stock savings bank, by the shareholders.
(3) Authorization of indemnification and evaluation as to reasonableness of expenses shall be made in the same manner as the determination that indemnification is permissible, except that if the determination is made by special legal counsel, authorization of indemnification and evaluation as to reasonableness of expenses shall be made by those entitled under subsection (2)(c) of this section to select counsel. [1989 c.324 §22; 1997 c.631 §111]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.758 - Indemnification of officers, employees and agents.

Unless a banking institution’s articles of incorporation provide otherwise:
(1) An officer of the banking institution is entitled to mandatory indemnification under ORS 707.748 and is entitled to apply for court-ordered indemnification under ORS 707.754, in each case to the same extent as a director under ORS 707.748 and 707.754.
(2) The banking institution may indemnify and advance expenses under ORS 707.744 to 707.762 to an officer, employee or agent of the banking institution to the same extent as to a director. [1989 c.324 §23; 1997 c.631 §112]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.762 - Insurance.

A banking institution may purchase and maintain insurance on behalf of an individual against liability asserted against or incurred by the individual who is or was a director, officer, employee or agent of the banking institution or who, while a director, officer, employee or agent of the banking institution, is or was serving at the request of the banking institution as a director, officer, partner, trustee, employee or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. The banking institution may purchase and maintain the insurance even if the banking institution has no power to indemnify the individual against the same liability under ORS 707.746 or 707.748. [1989 c.324 §24; 1997 c.631 §113]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.764 - Application of ORS 707.744 to 707.762.

(1) The indemnification and provisions for advancement of expenses provided by ORS 707.744 to 707.762 shall not be deemed exclusive of any other rights to which directors, officers, employees or agents may be entitled under the banking institution’s articles of incorporation or bylaws, any agreement, general or specific action of its board of directors, vote of shareholders or otherwise, and shall continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person. Specifically and not by way of limitation, a banking institution shall have the power to make or agree to make any further indemnification, including advancement of expenses, of:
(a) Any director as authorized by the articles of incorporation, any bylaws approved, adopted or ratified by the shareholders or any resolution or agreement approved, adopted or ratified, before or after such indemnification or agreement is made, by the shareholders, provided that no such indemnification shall indemnify any director from or on account of acts or omissions for which liability could not be eliminated under ORS 707.110 (5)(c); and
(b) Any officer, employee or agent who is not a director as authorized by its articles of incorporation or bylaws, general or specific action of its board of directors or agreement. Unless the articles of incorporation, or any such bylaws, agreement or resolution provide otherwise, any determination as to any further indemnity under this paragraph shall be made in accordance with ORS 707.756.
(2) If articles of incorporation limit indemnification or advance of expenses, any indemnification and advance of expenses are valid only to the extent consistent with the articles of incorporation.
(3) ORS 707.744 to 707.762 do not limit a banking institution’s power to pay or reimburse expenses incurred by a director in connection with the director’s appearance as a witness in a proceeding at a time when the director has not been made a named defendant or respondent to a proceeding. [1989 c.324 §25; 1997 c.631 §114]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708 - (Former Provisions) › Section 708.030

[Amended by 1955 c.315 §1; 1957 c.255 §1; 1961 c.220 §1; 1965 c.168 §1; 1971 c.209 §1; 1973 c.797 §101; 1979 c.199 §1; 1985 c.554 §1; renumbered 708.484]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.010 - Investments and activities of Oregon commercial banks.

(1) Notwithstanding any provision of the Bank Act to the contrary, Oregon commercial banks may:
(a) Engage as principal or agent in activities in which national banks may engage as principal or agent and acquire and retain investments that national banks may acquire and retain, subject to conditions and restrictions that apply to national banks; and
(b) Engage as principal or agent in activities and acquire and retain investments that are permissible for state chartered banks under 12 C.F.R. 362.3(b) and 12 C.F.R. 362.4(c), subject to conditions and restrictions provided in 12 U.S.C. 1831a, 12 C.F.R. 362, and other applicable federal law.
(2) Notwithstanding any provision of the Bank Act to the contrary, subsidiaries of Oregon commercial banks may:
(a) Engage as principal or agent in activities in which subsidiaries of national banks may engage as principal or agent and acquire and retain investments that subsidiaries of national banks may acquire and retain, subject to conditions and restrictions that apply to subsidiaries of national banks; and
(b) Engage as principal or agent in activities and acquire and retain investments that are permissible for subsidiaries of state chartered bank subsidiaries under 12 C.F.R. 362.3(b) and 12 C.F.R. 362.4(c), subject to conditions and restrictions provided in 12 U.S.C. 1831a, 12 C.F.R. 362, and other applicable federal law.
(3) Activities and investments described in subsections (1) and (2) of this section that require notice to or approval of the Comptroller of the Currency do not require Oregon commercial banks or subsidiaries of Oregon commercial banks to give notice to or obtain approval from the Comptroller of the Currency, but Oregon commercial banks or subsidiaries of Oregon commercial banks shall give notice to or obtain approval from the Director of the Department of Consumer and Business Services. For purposes of this section, references in federal statutes, regulations and other authorities that prescribe the permissible activities and investments of national banks and subsidiaries of national banks refer whenever practicable to comparable provisions of Oregon law. The director may approve an activity or investment that requires the director’s approval, subject to such conditions as the director deems appropriate.
(4) The purpose of this section is to grant Oregon commercial banks and subsidiaries of Oregon commercial banks all investment and activity power and authority, as principal or agent, permitted state chartered banks under federal law. [1997 c.631 §117; 2015 c.244 §34]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.115 - Investment in government obligations.

(1) Institutions may invest, without regard to any limitation based on stockholders’ equity, in:
(a) Obligations of the United States, including those of its agencies and instrumentalities;
(b) Obligations of public housing agencies issued pursuant to the United States Housing Act of 1937, as amended; and
(c) Obligations of the State of Oregon or any county, city, school district, port district or other public body with the power to levy taxes issued pursuant to the Constitution or statutes of the State of Oregon or the charter or ordinances of any county or city within the State of Oregon, if the issuing body has not been in default with respect to the payment of principal or interest on any of its obligations within five years preceding the date of the investment.
(2) Subject to a limitation of 20 percent of stockholders’ equity, institutions may invest in obligations of any other state of the United States or obligations of any out-of-state county, city, school district, port district or other public body in the United States payable from ad valorem taxes, if the obligations are rated in one of the four 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 state and municipal obligations.
(3) Obligations received in satisfaction of debts previously contracted in good faith are not subject to the limitations of this section, if the book value of such obligations in excess of the limitations of this section is reduced to the amount allowed under this section within six months after the date the obligations are acquired. [1997 c.631 §118; 1999 c.59 §215]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.125 - Stock in corporations acquired to strengthen capital or eliminate undesirable assets.

(1) An institution may carry fully paid and nonassessable capital stock of or membership interest in any other corporation or limited liability company as an asset, if:
(a) The institution’s board of directors applies in writing to the Director of the Department of Consumer and Business Services;
(b) The director approves the application in writing;
(c) The institution obeys any limitations the director specifies in the director’s approval; and
(d) The institution acquires the stock or membership interest for the purpose of strengthening the institution’s capital structure or eliminating undesirable assets.
(2) The institution may hold the stock or membership interest as long as the director may determine, but in no event longer than 15 years.
(3) This section does not apply to any stock or membership interest that an institution may acquire in connection with insuring deposits, under ORS 708A.120, or in a purchase as a part of any transaction in which an institution borrows from the United States or an agency of the United States. This section does not repeal or in any way limit or modify ORS 711.470. [1997 c.631 §120; 2015 c.244 §35]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.130 - Definition for ORS 708A.135 to 708A.145.

As used in ORS 708A.135 to 708A.145, unless the context requires otherwise, "invest" includes any advance of funds to a bank service corporation, whether by the purchase of stock, the making of a loan or otherwise, but does not include a payment for rent earned, goods sold and delivered or services rendered prior to the making of the payment. [1997 c.631 §121]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.135 - Investment in bank service corporation.

An Oregon commercial bank may invest not more than 10 percent of its capital in a bank service corporation. An Oregon commercial bank shall not invest more than five percent of its total assets in a bank service corporation. [1997 c.631 §122]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.140 - Discrimination by bank service corporation prohibited against nonstockholding depository institution; permitted conduct.

A bank service corporation shall not unreasonably discriminate in the provision of any services authorized under ORS 708A.130 to 708A.145 against any financial institution that does not own stock in the bank service corporation on the basis of the fact that the nonstockholding financial institution is in competition with a financial institution that owns stock in the bank service corporation, except that:
(1) It shall not be considered unreasonable discrimination for a bank service corporation, at its option, to either:
(a) Provide services to nonstockholding financial institutions only at a price that fully reflects all of the costs of offering those services, including the cost of capital and a reasonable return thereon; or
(b) If an Oregon commercial bank is authorized under ORS 708A.135 to invest in a bank service corporation, the bank service corporation may require that the Oregon commercial bank invest in the stock of the bank service corporation, in which case the bank service corporation shall provide services to the Oregon commercial bank on the same basis as for other stockholder financial institutions of the bank service corporation.
(2) A bank service corporation may refuse to provide services to a nonstockholding financial institution if comparable services are available from another source at competitive overall costs, or if the providing of services would be beyond the practical capacity of the bank service corporation. [1997 c.631 §123]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.145 - Authorized services of bank service corporations; sale of insurance; regulation of services.

(1) A bank service corporation may perform any of the following services for financial institutions:
(a) Check and deposit sorting and posting;
(b) Computing and posting interest and other credits and charges;
(c) Preparing and mailing checks, statements, notices and similar items; or
(d) Any other clerical, bookkeeping, accounting, statistical or similar functions.
(2) In addition to the services that a bank service corporation may perform for financial institutions under subsection (1) of this section, a bank service corporation:
(a) May perform for any person any service that any shareholders of the bank service corporation or any holding company or subsidiary of the shareholder may lawfully perform, except that a bank service corporation may not engage in the business of banking.
(b) Is subject to the limitations with respect to selling insurance that apply to depository institutions under ORS 746.213 to 746.219. For the purpose of this paragraph, "depository institution" has the meaning given that term in ORS 746.213.
(3) A banking institution may not cause to be performed, by contract or otherwise, any of the services described in subsection (1) of this section for the banking institution, whether on or off the banking institution’s premises, unless both the banking institution and the person that performs the services give a satisfactory assurance to the Director of the Department of Consumer and Business Services that the director may regulate and examine the performance of the services to the same extent as if the banking institution performed the services on the banking institution’s own premises.
(4) The director may regulate and examine the performance of the services described in subsection (1) of this section for financial institutions, and may regulate and examine a bank service corporation’s performance of the services described in subsection (2) of this section. [1997 c.631 §124; 2003 c.363 §8; 2015 c.244 §36]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.150 - Community development corporations; authority to invest or organize; conditions; corporate form; functions.

(1) As provided in this section:
(a) A banking institution may invest its capital in a community development corporation.
(b) A banking institution may organize a community development corporation as a wholly owned subsidiary of the banking institution and invest its capital in the corporation.
(2) A banking institution may invest in or organize and invest in a community development corporation under subsection (1) of this section, if the following conditions are satisfied:
(a) The projects undertaken by the community development corporation must be predominantly of a civic, community or public nature, and not merely of a private or entrepreneurial nature.
(b) The banking institution’s aggregate investment in community development corporations and their projects must not exceed two percent of its capital for any project and five percent of its capital for all projects, or 10 percent of its capital for all projects with the approval of the Director of the Department of Consumer and Business Services.
(c) The banking institution must submit to the director its proposal for investing in or organizing and investing in a community development corporation and the proposal must receive the director’s approval.
(d) The membership of the board of directors of the community development corporation must be representative of the community in which the corporation is to operate.
(3) A community development corporation may be organized as a for-profit corporation under ORS chapter 60 or as a nonprofit corporation under the Oregon Nonprofit Corporation Law. A community development corporation must be authorized under its articles of incorporation or applicable law to:
(a) Acquire real estate. This paragraph does not authorize real estate investment that is primarily speculative in nature.
(b) Make equity investments in small businesses and in development projects that primarily benefit small businesses.
(c) Participate in joint ventures with outside partners.
(4) A banking institution wishing to invest in or organize and invest in a community development corporation shall submit to the director, on an application form designed by the director, a proposal that describes in detail the nature and scope of development activities the community development corporation intends to undertake.
(5) The director may submit an application to any appropriate state agency or city, county or other local government for its advice and assistance on determining the need and practicability of the projects proposed in the application. [1997 c.631 §125]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.155 - Investment in foreign banks.

(1) If the Director of the Department of Consumer and Business Services approves, and subject to rules the director adopts in accordance with ORS 183.310, 183.315, 183.330, 183.335 and 183.341 to 183.410, an institution may invest not more than 10 percent, in the aggregate, of the stockholders’ equity in the institution in the stock of banks or corporations that are chartered or incorporated under the laws of the United States or another state. The banks or corporations in which the institution may invest under this section must be principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions, including the stock of one or more banks or corporations chartered or incorporated under section 25(a) of the Federal Reserve Act, as approved December 24, 1919.
(2) An institution shall apply to the director for permission to exercise the powers established in subsection (1) of this section. The application shall specify the name, the stockholders’ equity in the institution filing the application, the powers for which the institution is applying and the place or places where the banking operations are to be carried on.
(3) The director may approve the application, in whole or in part, or may disapprove the application if the director believes that granting approval is inexpedient. The director may increase or decrease the number of places where the banking operations may be carried on.
(4) Before an institution may purchase stock in any bank or corporation described in subsection (1) of this section, the bank or corporation shall agree to restrict the bank’s or corporation’s operations or conduct the bank’s or corporation’s business in the manner and under the limitations prescribed by the director for the places in which the business is to be conducted.
(5) If the director determines that a bank or corporation is not complying with the limitations the director prescribed, the director may investigate the matter. If the investigation shows that the bank or corporation, or the institution holding stock in the bank or corporation, has not complied with the limitations, the director may require the institution to dispose of stock holdings in the bank or corporation.
(6) An institution that invests in the capital stock of banks or corporations as provided in subsection (1) of this section shall furnish information concerning the condition of the banks or corporations to the director upon demand. The director may order special examinations of the banks or corporations. [1997 c.631 §126; 1999 c.59 §216; 2015 c.244 §37]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.160 - Corporation or limited liability company created to establish ATMs; banking institution as stockholder.

A banking institution may, subject to the approval of the Director of the Department of Consumer and Business Services, acquire and continue to hold a membership in or the fully paid stock of a limited liability company or corporation that is created to establish and operate ATM facilities. [1997 c.631 §127; 2015 c.244 §38]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.165 - Membership in Federal Reserve System; member bank, officers, directors and shareholders subject to duties and liabilities imposed by laws of this state.

(1) An Oregon commercial bank may subscribe to the capital stock and become a member of a Federal Reserve Bank.
(2) An Oregon commercial bank that is a member of a Federal Reserve Bank is subject to supervision and examination under the laws of this state. The Federal Reserve Board may also examine the Oregon commercial bank. The authorities of this state that have supervisory authority over an Oregon commercial bank may disclose to the Federal Reserve Board, or to examiners that the Federal Reserve Board appoints, all information the authorities of this state have about the affairs of any Oregon commercial bank that has become, or desires to become, a member of a Federal Reserve Bank.
(3) An Oregon commercial bank that is a member bank and the directors, principal officers and stockholders of the Oregon commercial bank are subject to all liabilities and duties that the laws of this state impose upon directors, officers and stockholders of Oregon commercial banks. [1997 c.631 §128; 2015 c.244 §39]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.175 - Right to purchase, hold and dispose of real and personal property.

An institution may purchase, hold, convey, sell or lease:
(1) The real estate and improvements thereto in which the business of the institution is carried on, including, with its offices, other space in the same building to rent as a source of income.
(2) Furniture, fixtures, vaults, safe deposit boxes and other personal property necessary or convenient to carrying on the business of the institution.
(3) Real or personal property purchased by or conveyed to the institution in satisfaction of or on account of debts previously contracted in the course of its business, or otherwise acquired in the course of collecting debts.
(4) Real estate purchased at execution sale or under a judgment.
(5) Real estate conveyed to the institution in connection with its purchase of a bona fide contract of sale covering the real estate conveyed.
(6) Real estate purchased with the approval of the Director of the Department of Consumer and Business Services for the purpose of future location or expansion of the business of the institution.
(7) Real estate held in trust and real estate purchased with assets other than those of the institution. [1997 c.631 §131; 2003 c.576 §545]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.180 - Acquisition of personal property for leasing purposes.

An Oregon commercial bank may acquire and lease personal property at the request of a lessee that wishes to lease the personal property upon terms that require paying rents. Rents may include residual values, the payment of which a responsible third party guarantees. [1997 c.631 §132; 2015 c.244 §40]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.190 - Acceptance of drafts and bills of exchange; issuance of letters of credit; obligation for participation share in bills; rules.

(1) An Oregon commercial bank may accept drafts or bills of exchange drawn upon it having not more than six months’ sight to run, exclusive of days of grace, that grow out of transactions involving the importation or exportation of goods, or that grow out of the domestic shipment of goods, or that are secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title covering readily marketable staples.
(2) An Oregon commercial bank shall not accept drafts or bills of exchange or issue letters of credit, whether in a foreign or domestic transaction, for any one person to an amount equal at any one time in the aggregate to more than 20 percent of its capital, unless the Oregon commercial bank is fully secured either by attached documents or by some other actual security growing out of the same transaction as the acceptance or letter of credit.
(3) Except as provided in subsection (5) of this section, an Oregon commercial bank shall not accept bills or issue letters of credit, or be obligated for a participation share in bills, to an amount equal at any time in the aggregate to more than 150 percent of its capital. The aggregate of acceptances or bills, including obligations for a participation share in such acceptances, growing out of domestic transactions shall not exceed 50 percent of the aggregate of all acceptances, including obligations for a participation share in such acceptances, authorized for the Oregon commercial bank under this section.
(4) An Oregon commercial bank may accept drafts or bills of exchange drawn upon it having not more than six months’ sight to run, exclusive of days of grace, drawn under rules prescribed by the Director of the Department of Consumer and Business Services or bankers in foreign countries or dependencies or insular possessions of the United States for the purpose of furnishing dollar exchange, as required by the usages of trade in the respective countries, dependencies or insular possessions. An Oregon commercial bank shall not accept the drafts or bills of exchange for any one bank to any amount exceeding in the aggregate 20 percent of the capital of the accepting Oregon commercial bank, unless the draft or bill of exchange is accompanied by documents conveying or securing the title or by some other adequate security. An Oregon commercial bank shall not accept the drafts or bills of exchange in an amount exceeding at any time the aggregate of its capital.
(5) The director, under such conditions as the director may prescribe, may authorize, by rule or order, any Oregon commercial bank to accept bills and issue letters of credit, or be obligated for a participation share in bills, in an amount not exceeding at any time in the aggregate 200 percent of its capital. [1997 c.631 §134]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.195 - Disposition of real and personal property.

(1) An institution shall promptly dispose of real and personal property that the institution may not own or hold under the Bank Act.
(2) An institution shall sell or exchange real estate that the institution acquires in accordance with ORS 708A.175 (3) and (4) for other real estate within 10 years after title has vested in the real estate, unless the Director of the Department of Consumer and Business Services extends the time. Title vests for purposes of this section on the date the institution receives a deed to the real estate. An institution may not exchange real estate for other real estate without the director’s prior written consent. An institution may hold real estate the institution takes in exchange for other real estate for a period of time that the director fixes, not to exceed 10 years from the date of the exchange.
(3) An institution shall promptly dispose of personal property the institution acquires under ORS 708A.175 (3). [1997 c.631 §135; 2011 c.478 §2; 2015 c.244 §41]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.210 - Challenge to validity of institution action; prohibition; exceptions.

(1) Except as provided in subsection (2) of this section, the validity of an institution’s action may not be challenged on the grounds that the institution lacks or lacked power to act.
(2) An institution’s power to act may be challenged:
(a) In a proceeding by a stockholder against the institution to enjoin the act;
(b) In a proceeding by the institution, directly, derivatively or through a receiver, trustee or other legal representative, against an incumbent or former director, officer, employee or agent of the institution; or
(c) By the Director of the Department of Consumer and Business Services.
(3) In a stockholder’s proceeding under subsection (2)(a) of this section to enjoin an unauthorized act, the court may enjoin or set aside the act if equitable and if all affected persons are parties to the proceeding, and may award damages for loss other than anticipated profits suffered by the institution or another party because of enjoining the unauthorized act. [1997 c.631 §137]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.250 - Lending money.

Except as specifically limited by the Bank Act and other applicable law, Oregon commercial banks have the general power to loan money upon terms and conditions that are consistent with safe and sound banking practices. [1997 c.631 §138; 2015 c.244 §42]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.260 - Accepting own stock as collateral.

An Oregon commercial bank may not accept the Oregon commercial bank’s own capital stock as collateral unless taking the Oregon commercial bank’s own stock as collateral is necessary to prevent loss upon an indebtedness previously contracted in good faith. If the indebtedness is not paid in full within six months after the date on which the Oregon commercial bank took the stock as collateral, the Oregon commercial bank shall sell the stock promptly. [1997 c.631 §140; 2015 c.244 §44]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.265 - Accepting stock of other institutions as collateral.

An Oregon commercial bank may not accept or hold as loan collateral in the aggregate more than 25 percent of the capital stock of any other insured stock institution. [1997 c.631 §141; 2015 c.244 §45]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.270 - Real estate loans.

(1) With respect to any loans secured primarily by real estate, an Oregon commercial bank shall maintain a file containing such appraisal, evidence of merchantable title and insurance as may be required by the Director of the Department of Consumer and Business Services.
(2) All loans made by an Oregon commercial bank to finance the construction of buildings and the improvements appurtenant thereto shall be subject to such requirements as the director may determine. [1997 c.631 §142]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.275 - Establishment of loan production office; notice; fee.

(1) An Oregon bank shall file a notice with the Director of the Department of Consumer and Business Services within 30 days after establishing a loan production office in this state or in another state. The notice must include:
(a) The name of the Oregon bank and the address of the main office;
(b) The name and address of the loan production office; and
(c) The name and address of the officer of the Oregon bank who is responsible for loan production office activities.
(2) An Oregon bank shall file a notice under subsection (1) of this section for each loan production office.
(3) Each notice that an Oregon bank files under subsection (1) of this section must be:
(a) Accompanied by a nonrefundable fee of $100.
(b) Amended if a material change occurs in the information the Oregon bank provided under subsection (1) of this section. A fee is not required for amendments.
(4) An Oregon bank shall notify the director of the closure of a loan production office, the date of closure and the disposition of any records previously maintained at the loan production office. A fee is not required for a notice of closure. [1999 c.107 §5; 2015 c.244 §45a]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.290 - "Capital" defined for ORS 708A.290 to 708A.375.

As used in ORS 708A.290 to 708A.375, the term "capital," when referring to an Oregon commercial bank, means tier 1 and tier 2 capital, as applicable and as reported in the bank’s Consolidated Report of Condition and Income (Call Report) filed under 12 U.S.C. 1817(a)(3), as of the quarter-end preceding the quarter in which a loan or other obligation is approved, plus the balance of the Allowance for Loan and Lease Losses or Adjusted Allowance for Credit Losses as of the same quarter-end not included in tier 2 capital. [1997 c.631 §143; 2021 c.197 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.295 - Limitations on amount of obligations to Oregon commercial bank; applicability.

Except as provided in ORS 708A.300 to 708A.375, the loans and other obligations of a person to an Oregon commercial bank outstanding at any time shall not exceed 15 percent of the Oregon commercial bank’s capital. Any loan made or other obligation acquired in accordance with ORS 708A.300 to 708A.375 shall be in addition to and shall not be applied against the 15 percent limitation. Any loan made or obligation acquired that complies with ORS 708A.290 to 708A.375 when made or acquired shall not be considered out of compliance on account of a subsequent decline in the capital of the Oregon commercial bank. Obligations in the name of one person for the benefit of another person shall be considered obligations of both the named person and the benefited person. [1997 c.631 §144]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.300 - Obligations secured by readily marketable collateral.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to or acquire other obligations of a person, not to exceed 10 percent of its capital, if:
(1) The loans or obligations are fully secured by readily marketable collateral having a market value that may be determined by reliable and continuously available price quotations;
(2) The market value is at least 15 percent greater than the amount of the obligation at the time it is incurred; and
(3) The market value is at all times while the obligation is outstanding at least 100 percent of the balance of principal, interest and other charges applicable to the obligation. [1997 c.631 §145]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.305 - Obligations of other financial institutions.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of other financial institutions without regard to amount in the form of time or demand deposits that it places with such other financial institutions. [1997 c.631 §146]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.310 - Obligations of indorser of discounted commercial paper.

(1) In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person without regard to amount as an indorser, arising out of the discount of commercial or business paper owned by the person negotiating the paper.
(2) As used in this section, "commercial or business paper" means negotiable notes, drafts, acceptances or bills of exchange having a maturity of not more than six months, that have been given by one person to another in settlement of a commercial or business transaction involving the purchase of goods, and upon which both parties to the transaction are liable either as maker, drawer, acceptor or indorser. [1997 c.631 §147]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.315 - Noncommercial short-term notes.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person, not to exceed 15 percent of the bank’s capital, as an indorser or guarantor of notes, other than commercial or business paper excepted under ORS 708A.310, having a maturity of not more than six months, and owned by the person indorsing and negotiating the same. [1997 c.631 §148]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.320 - Obligations secured by shipping documents.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to or acquire other obligations of a person without regard to amount, provided the obligations are fully secured by shipping documents conveying or securing title to goods or commodities in process of shipment. [1997 c.631 §149]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.325 - Installment consumer paper.

(1) In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person, not to exceed 25 percent of the Oregon commercial bank’s capital, as an indorser or guarantor of negotiable or nonnegotiable installment consumer paper that carries a full or partial recourse indorsement or unconditional guarantee by the person transferring the obligation and conforms to rules prescribed by the Director of the Department of Consumer and Business Services.
(2) The 25 percent limitation of subsection (1) of this section does not apply to the extent the Oregon commercial bank relies primarily on the obligors on the consumer paper for the payment of the consumer paper, the Oregon commercial bank has reasonably adequate knowledge of the financial condition of the obligors on the consumer paper and an officer of the Oregon commercial bank certifies in writing that the creditworthiness of the obligors on the consumer paper has been evaluated. The certificate shall be retained as part of the records of the Oregon commercial bank. [1997 c.631 §150]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.330 - Bankers’ acceptances of other financial institutions.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may acquire obligations of a person without regard to amount in the form of bankers’ acceptances of other financial institutions of the kind described in section 13 of the Federal Reserve Act. [1997 c.631 §151]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.335 - Obligations secured by documents covering readily marketable staples.

(1) In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans and acquire other obligations of a person secured by documents of title covering readily marketable staples, provided the obligation does not exceed:
(a) 15 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 85 percent of the market value of the staples.
(b) 20 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 80 percent of the market value of the staples.
(c) 25 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 75 percent of the market value of the staples.
(d) 35 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 70 percent of the market value of the staples.
(e) 40 percent of the Oregon commercial bank’s capital, where the principal amount of the obligation does not exceed 65 percent of the market value of the staples.
(2) If it is customary to insure the staples mentioned in subsection (1) of this section, the staples shall be fully covered by insurance.
(3) This section does not apply to obligations of a person secured by the same staples for more than 10 months.
(4) Staples, for purposes of this section, in addition to being readily marketable, must be either:
(a) Nonperishable; or
(b) Perishable, but frozen, freeze-dried, irradiated or refrigerated for the purpose of protecting the staple against deterioration. [1997 c.631 §152]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.340 - Obligations secured by documents covering livestock.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to and acquire other obligations of a person, not to exceed 15 percent of the Oregon commercial bank’s capital, secured by documents of title covering livestock if the principal amount of the obligation is not more than 80 percent of the market value of the livestock. Turkeys are considered livestock within the meaning of this section. [1997 c.631 §153]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.345 - Obligations secured by government obligations or shares of mutual fund or unit trust.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to and acquire other obligations of any person if the obligation is secured by one or more of the following types of security and the principal amount of the obligation is not more than 90 percent of the market value of the security:
(1) Obligations of the United States, including those of its agencies and instrumentalities;
(2) Obligations of public housing agencies issued pursuant to the United States Housing Act of 1937, as amended;
(3) Obligations of the State of Oregon or any county, city, school district, port district or other public body with the power to levy taxes issued pursuant to the Constitution or statutes of the State of Oregon or the charter or ordinances of any county or city within the State of Oregon, if the issuing body has not been in default with respect to the payment of principal or interest on any of its obligations within five years preceding the date of the investment; or
(4) Shares in any mutual fund or unit trust, the assets of which are invested solely in obligations of the type described in subsections (1) to (3) of this section. [1997 c.631 §154]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.350 - Obligations secured by government bonds.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to and accept other obligations of a person, not to exceed 20 percent of the Oregon commercial bank’s capital, if:
(1) The obligation is secured by bonds of any state of the United States or bonds of any county, city, school district, port district or other public body in the United States;
(2) The principal amount of the obligation is not more than 90 percent of the market value of the bonds that secure the obligation;
(3) The bonds are payable from ad valorem taxes; and
(4) The bonds are rated in one of the four 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 state and municipal bonds. [1997 c.631 §155]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 708A - Regulation of Institutions Generally › Section 708A.355 - Insured and guaranteed obligations.

In addition to obligations permitted under ORS 708A.295, an Oregon commercial bank may make loans to and acquire other obligations of a person without regard to amount to the extent the obligations are insured, guaranteed or covered by commitments or agreements to take over or purchase made by a private mortgage insurance company, the State of Oregon, any Federal Reserve Bank, the United States or any department, bureau, board, commission or agency of the United States, including any corporation wholly owned, directly or indirectly, by the United States. [1997 c.631 §156]