reglab/statecodes huggingface dataset:
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 705 - Department of Consumer and Business Services › Section 705.642 - Injunction authority regarding conduct of banking business; penalty; attorney fees; claims for restitution, damages or disgorgement of illegal gains.

(1) Whenever the Director of the Department of Consumer and Business Services determines that a person has engaged, is engaging or is about to engage in an act or practice constituting a violation of a provision of ORS 705.638, 707.005 or 707.010 or any rule or order of the director, the director may bring suit in the name of or on behalf of the State of Oregon in the circuit court of any county of this state to enjoin the acts or practices and to enforce compliance with the provisions of ORS 705.638, 707.005 or 707.010 or the rule or order. Upon a proper showing, the court shall grant a permanent or temporary injunction, restraining order or writ of mandamus. The court may impose a penalty against the person of not more than $20,000 for each violation, which shall be entered as a judgment and paid to the General Fund of the State Treasury. Each violation is a separate offense. In the case of a continuing violation, each day’s continuance is a separate violation, but the maximum penalty for a continuing violation may not exceed $100,000. If the court finds that the defendant has violated a provision of ORS 705.638, 707.005 or 707.010 or a rule or order, the court may appoint a receiver, who may be the director, for the defendant or the defendant’s assets. The court may not require the director to post a bond. The court may award reasonable attorney fees to the director if the director prevails in an action under this section. The court may award reasonable attorney fees to a defendant who prevails in an action under this section if the court determines that the director had no objectively reasonable basis for asserting the claim or no reasonable basis for appealing an adverse decision of the trial court.
(2) The director may include either of the following in any action authorized by subsection (1) of this section:
(a) A claim for restitution or damages on behalf of the persons injured by the act or practice constituting the subject matter of the action. The court shall have jurisdiction to award appropriate relief to such persons, if the court finds that enforcement of the rights of such persons by private civil action, whether by class action or otherwise, would be so burdensome or expensive as to be impractical.
(b) A claim for disgorgement of illegal gains or profits derived. Any recovery under this paragraph must be turned over to the General Fund of the State Treasury unless the court requires another disposition. [2001 c.315 §47; 2009 c.541 §28; 2011 c.597 §287]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.015 - Bank Act references to federal statutes and regulations; rules.

References in the Bank Act to federal statutes and regulations, except as otherwise provided in the Bank Act, are to the statutes or regulations as the statutes or regulations are in effect on January 1, 2015. The Director of the Department of Consumer and Business Services may by rule construe one or more of the references to federal statutes and regulations in the Bank Act as references to the statutes and regulations as the statutes or regulations are in effect on a later date. [1997 c.631 §28; 1999 c.107 §1a; 2001 c.377 §56; 2015 c.244 §7]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.265

[1963 c.580 §76; 1973 c.797 §12; 1974 c.27 §2; 1985 c.762 §21a; 1985 c.786 §6; renumbered 706.910]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.500 - Examination of banking institutions and non-Oregon institutions; examination program with federal regulators.

(1) Each banking institution is subject to the inspection of the Director of the Department of Consumer and Business Services. The director shall conduct an examination of the condition and resources of each banking institution and determine whether the banking institution is complying with the laws of this state and such other matters as the director may prescribe. Except as provided in subsections (3) and (5) of this section, the director shall conduct examinations not more than 24 months apart.
(2) Subject to ORS 706.515, the director may at any time examine any branch of a non-Oregon institution located in this state, for the same purposes and to the same extent as provided in the case of banking institutions.
(3) The director may participate in any program that the Federal Deposit Insurance Corporation or the Federal Reserve Board provides for joint or alternate examinations of banking institutions and non-Oregon institutions.
(4) In addition to an examination under subsection (1), (2) or (3) of this section, the director may conduct an examination of a banking institution at any other time.
(5) Instead of conducting an examination of a banking institution or non-Oregon institution under subsection (1), (2) or (3) of this section, the director may accept an examination or report made under the Federal Reserve Act or under other statutes of the United States. [Amended by 1973 c.797 §22; 1981 c.192 §4; 1985 c.786 §7; 1997 c.631 §3a; 2015 c.244 §8]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.520 - Request by directors or stockholders for examination; costs.

When requested in writing by the board of directors of a banking institution or stockholders owning a majority of the capital stock of an institution or an Oregon stock savings bank, the Director of the Department of Consumer and Business Services may make or cause to be made an examination into the affairs and conditions of the banking institution or Oregon stock savings bank. The banking institution or Oregon stock savings bank shall pay the actual costs of the examination as provided in ORS 706.544. [Amended by 1973 c.797 §23; 1985 c.762 §26; 1985 c.786 §8; 1997 c.631 §4; 1999 c.59 §214]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.530 - Annual fees paid by banking institutions and non-Oregon institutions; rules.

(1) Each banking institution and each non-Oregon institution shall pay each year to the Director of the Department of Consumer and Business Services the fee set in a schedule the director adopts by rule. The fee shall be paid by the date set by the director in the rule establishing the schedule.
(2) The director shall set or change the fee schedule described in subsection (1) of this section after considering:
(a) The amount of other moneys available for the director to use in performing the director’s duties;
(b) The costs the director will incur in performing the director’s duties in the year in which the director will collect the fee; and
(c) The amount the director needs to establish and maintain a reasonable emergency fund. [Amended by 1969 c.94 §1; 1971 c.68 §1; 1973 c.797 §24; 1977 c.135 §8; 1985 c.762 §27a; 1985 c.786 §9; 1987 c.171 §3; 1987 c.373 §48; 1993 c.229 §3; 1993 c.264 §4; 1997 c.631 §5; 2009 c.541 §30]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.544 - Costs for special examination or other actions taken.

A banking institution or a non-Oregon institution shall pay to the Director of the Department of Consumer and Business Services the actual costs of the Department of Consumer and Business Services, as determined by the director, for conducting any special examination or taking any action under ORS 706.600. [1973 c.797 §25a; 1977 c.135 §10; 1985 c.762 §30a; 1985 c.786 §11; 1997 c.631 §6]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.560 - Appraisal of securities and audit.

(1) When a banking institution or a non-Oregon institution has been examined by an examiner and the examiner finds securities that are of doubtful value, the examiner shall report the same to the Director of the Department of Consumer and Business Services, who may, at the expense of the banking institution or non-Oregon institution, investigate and appraise the securities.
(2) The director may, in the discretion of the director or whenever requested to do so by a banking institution or non-Oregon institution, make an audit of the affairs of the banking institution or non-Oregon institution. The Department of Consumer and Business Services shall be reimbursed by the banking institution or non-Oregon institution for all costs incurred by the department in conducting the audit. [Amended by 1973 c.797 §29; 1997 c.631 §7]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.570 - Requirement that banking institution keep books and accounts; civil penalty.

(1) A banking institution that is engaged in the business of banking in this state shall keep books and accounts of the banking institution’s activities, in such a manner as to enable the Director of the Department of Consumer and Business Services to readily ascertain the true condition of the banking institution.
(2) If the director determines in an examination of a banking institution that the banking institution does not keep books and accounts in such a manner as to enable the director to readily ascertain the true condition of the banking institution, the director may require any officer of the banking institution to open and keep books or accounts as the director prescribes.
(3) If a banking institution fails to open and keep the books and accounts that the director prescribes, the director shall send written notice to the banking institution of intent to assess and collect the penalty under this subsection. For each day the banking institution fails to open and keep the books and accounts after receiving notice from the director, the banking institution is subject to a penalty of $1,000. The banking institution shall pay the penalty when the banking institution receives a notice and demand for the amount of the penalty from the director. If the banking institution delays or refuses to pay the penalty upon the director’s demand, the Attorney General shall bring an action in the director’s name to recover the penalty. All sums collected for penalties imposed by this section must be paid into the Consumer and Business Services Fund created by ORS 705.145. [Amended by 1973 c.797 §30; 1985 c.762 §31; 1987 c.373 §50; 1997 c.631 §8; 2015 c.244 §9]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.575 - Certificate as evidence that document is filed with director.

(1) A certificate attached to a copy of a document filed by the Director of the Department of Consumer and Business Services, bearing the director’s signature, which may be in facsimile, is conclusive evidence that the original document or a facsimile thereof is on file with the office.
(2) All certificates issued by the director in accordance with the provisions of this chapter and all copies of documents filed in the office of the director in accordance with the provisions of this chapter, when certified by the director, shall be taken and received in all courts, public offices and official bodies as prima facie evidence of the facts stated in the certificates or documents. A certificate by the director, as to the existence or nonexistence of the facts relating to financial institutions that would appear from the presence or absence of documents filed in the office of the director or the compliance or noncompliance with provisions of this chapter, shall be taken and received in all courts, public offices and official bodies as prima facie evidence of the existence or nonexistence of the facts stated in the certificates or documents. [1989 c.324 §2; 1997 c.631 §9]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.578 - Establishment of loan production office; notice; fee.

(1) An insured institution or extranational institution shall file a notice with the Director of the Department of Consumer and Business Services and pay a nonrefundable fee of $100 within 30 days after establishing a loan production office in this state. The notice must include:
(a) The name of the insured institution or extranational institution 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 insured institution or extranational institution who is responsible for loan production office activities.
(2) An insured institution or extranational institution shall file a notice under subsection (1) of this section for each loan production office the insured institution or extranational institution establishes in this state.
(3) An insured institution or extranational institution shall amend a notice the insured institution or extranational institution filed under subsection (1) of this section if a material change occurs in the information in the original notice. An amendment to a notice is not subject to a fee.
(4) An insured institution or extranational institution shall notify the director if the insured institution or extranational institution closes a loan production office in this state, specifying the date of closure and describing how the insured institution or extranational institution will dispose of any records the insured institution or extranational institution maintained at the loan production office. A notice under this subsection is not subject to a fee. [2015 c.244 §4]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.580 - Illegal, unauthorized or unsafe practices; authority of director.

(1) The Director of the Department of Consumer and Business Services may take an action described in subsection (2) of this section if a banking institution or non-Oregon institution:
(a) Conducts business in an unsafe or unauthorized manner;
(b) Refuses to submit records for inspection by an examiner or by the Department of Consumer and Business Services; or
(c) Violates a law of this state or the United States or a duly issued order of the director.
(2) If the director believes a condition described in subsection (1) of this section exists, the director may:
(a) Notify the appropriate bank supervisory agency, with respect to the banking institution or non-Oregon institution, of the director’s determination and the facts and circumstances on which the determination is based;
(b) Provide the banking institution or non-Oregon institution with a statement of the charges on the basis of which the director determined that the banking institution or non-Oregon institution is violating the law or conducting business in an unsafe or unauthorized manner;
(c) Notify the banking institution or non-Oregon institution of the date and place of a hearing before the director, or a person designated by the director, with respect to the charges against the banking institution or non-Oregon institution; and
(d) Conduct a hearing pursuant to the notice given to the banking institution or non-Oregon institution under subsection (1)(c) of this section and make findings with respect to each of the charges specified in the notice to the banking institution or non-Oregon institution.
(3) After a hearing conducted under subsection (2) of this section, the director may:
(a) By an order in writing:
(A) Direct the discontinuance of the illegal, unsafe or unauthorized practices; and
(B) Direct the banking institution or non-Oregon institution to take affirmative action to correct or remedy a condition that resulted from the illegal, unsafe or unauthorized practice;
(b) Apply for and obtain an injunction or other appropriate order from a court that has jurisdiction over the matter to enforce the director’s order issued under paragraph (a) of this subsection;
(c) Publish notice of an order the director issued pursuant to paragraph (a) of this subsection; and
(d) Suspend or revoke the authority of a non-Oregon institution to open, occupy or maintain a branch or branches in this state. [Amended by 1973 c.797 §31; 1997 c.631 §10; 2009 c.541 §30a]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.610 - Examiners required to report insolvency of Oregon operating institution.

An examiner of the Department of Consumer and Business Services, having knowledge of the insolvency or unsafe condition of an Oregon operating institution shall report the fact in writing, over the examiner’s signature, to the Director of the Department of Consumer and Business Services. [Amended by 1973 c.797 §33; 1985 c.762 §32; 1997 c.631 §12]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.630 - Regular reports of condition; additional reports as required by director.

(1) The Director of the Department of Consumer and Business Services shall require each Oregon operating institution to submit a report of condition at the close of business on the same day on which the federal regulatory agencies require a report from national banks.
(2)(a) In the report of condition required under subsection (1) of this section, an Oregon operating institution shall:
(A) Show the Oregon operating institution’s assets and liabilities combined for all departments at the close of business on the day specified.
(B) Include a sworn statement as to the accuracy and truth of the report from an officer of the Oregon operating institution that makes the report and an attestation from not less than two directors of the Oregon operating institution.
(b) The Oregon operating institution shall transmit the report to the director within the time allowed by federal regulations for submitting reports of national bank associations to the federal regulatory agencies.
(3) The director may require additional reports of condition at any time. The additional reports must meet the requirements of subsection (2) of this section.
(4) Trust companies that do not conduct banking business need not submit the reports required in subsection (1) of this section, but shall submit reports that the director requires. [Amended by 1973 c.797 §35; 1975 c.544 §3; 1975 c.725 §6a; 1977 c.135 §11; 1983 c.37 §2; 1989 c.269 §1; 1991 c.67 §188; 1997 c.631 §13; 2015 c.244 §10]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.650 - Delay or failure to furnish reports of condition; penalty.

If an Oregon operating institution delays or fails to furnish reports in the manner required under ORS 706.630, the Oregon operating institution is subject to a penalty of $250 a day for each day while in default. The Oregon operating institution shall pay the penalty after receiving notice or demand for the amount of the penalty from the Director of the Department of Consumer and Business Services. If the Oregon operating institution does not pay the penalty upon demand by the director, the director shall proceed to collect the penalty in the manner prescribed by ORS 706.570 (3). If the director determines that the default was unavoidable, the director may waive the penalty. [Amended by 1973 c.797 §36; 1997 c.631 §14; 2015 c.244 §11]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.655 - Records of extensions of credit by banking institutions; rules.

(1) Each banking institution shall submit to the Director of the Department of Consumer and Business Services each calendar quarter a copy of such records concerning extensions of credit by the banking institution to its executive officers, directors and principal shareholders, and the related interests of those persons, as are required by rule of the director.
(2) The director may require a banking institution to file records under subsection (1) of this section more often than quarterly, as the director determines is necessary.
(3) The director shall adopt rules governing the submission of records concerning extensions of credit, as required under subsections (1) and (2) of this section, and the identification of the persons to whom the extensions are made. The rules shall be consistent with provisions of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 and regulations adopted by the Federal Reserve Board and the Federal Deposit Insurance Corporation thereunder:
(a) In order that banking institutions may satisfy the requirements of subsections (1) and (2) of this section by submitting copies of records required to be maintained under such federal laws and regulations; and
(b) In order to otherwise minimize the inconvenience to banking institutions of having to maintain separate records for the federal regulators and the director. [1985 c.786 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.700 - Resignation or retirement of director, president or chief executive officer; notice to director.

A director, president or chief executive officer of a banking institution who retires or resigns from the position of director, president or chief executive officer shall give 30 days prior written notice to the Director of the Department of Consumer and Business Services. [Amended by 1963 c.195 §1; 1973 c.797 §41; 1987 c.158 §150; 1995 c.316 §1]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.710 - Waiver of retirement or resignation notices; modifying effective date.

The Director of the Department of Consumer and Business Services may, by writing, waive the notices provided for in ORS 706.690 and 706.700, or shorten the period after the notice when the resignation or retirement becomes effective. [Amended by 1973 c.797 §42; 1975 c.544 §5; 1995 c.316 §2]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.723 - Confidential documents; review by court.

(1) Notwithstanding any other provision of law:
(a) Reports and records described in ORS 706.720 (3) and compliance review documents are confidential as provided in ORS 705.137 and are not discoverable or admissible as evidence in any civil action or administrative proceeding.
(b) Reports and records described in ORS 706.720 (3) and compliance review documents delivered to a state, federal or foreign governmental or regulatory agency remain confidential as provided in ORS 705.137 and are not discoverable or admissible in any civil action or administrative proceeding.
(c) A person that serves on a compliance review committee or acts at the request of a compliance review committee may not testify in any civil action as to:
(A) The contents or conclusions of a compliance review document; or
(B) The actions that a compliance review committee takes.
(2) This section does not limit the discovery or admissibility in any civil action or administrative proceeding of any documents that are not reports or records described in ORS 706.720 (3) or compliance review documents.
(3) Upon motion by any party, a court shall determine a claim of confidentiality under this section after an in camera review of the materials or information claimed to be confidential. If the court determines that part, but not all, of the materials or information is confidential under this section, the court shall ensure that only the materials or information that is not confidential is disclosed.
(4) The provisions of this section do not affect the ability of a person to claim any privilege that may be provided by law, including but not limited to a claim of privilege under ORS 40.225.
(5) For the purposes of this section:
(a) "Compliance review committee" means a person or persons that a board of directors or the managers of a financial institution assign to test, review or evaluate the conduct of the financial institution, the transactions of the financial institution or the potential transactions of the financial institution for the purpose of monitoring, improving and enforcing compliance with:
(A) Safe, sound and fair lending practices;
(B) Financial reporting to state or federal regulatory agencies;
(C) The financial institution’s own policies and procedures; or
(D) Federal or state statutory or regulatory requirements relating to financial institutions.
(b) "Compliance review document" means any document prepared for or created by a compliance review committee. [1997 c.81 §2; 2001 c.377 §22; 2015 c.244 §13]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.725 - False statements, reports and book entries.

An officer, director, stockholder or employee of any Oregon operating institution shall not:
(1) Knowingly subscribe to or make or cause to be made any false statement or report to the Director of the Department of Consumer and Business Services or any false entry in the books or accounts of the Oregon operating institution.
(2) Knowingly subscribe to or exhibit false papers with the intent to deceive any person authorized to examine into the affairs of the Oregon operating institution.
(3) Knowingly state or publish any false report or statement of the Oregon operating institution or prepare any false minutes, with intent to deceive the directors of the Oregon operating institution or any person authorized to examine the affairs of the Oregon operating institution.
(4) Make improper or fail to make proper entry upon the books or records or in any statement or report of the Oregon operating institution with intent to deceive or conceal the true condition of the Oregon operating institution. [1973 c.797 §44; 1997 c.631 §19]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.730 - Depositor and debtor information confidential; disclosure prohibited; exceptions.

(1) The name of a person who is a depositor or debtor of a bank and the amount of the person’s deposit or debt are confidential as provided in ORS 705.137. The Director of the Department of Consumer and Business Services or any other person employed by the Department of Consumer and Business Services shall not knowingly disclose the name of a person who is a depositor or debtor of a bank, or the amount of the person’s deposit or debt, except that the director or the employee may disclose such information as may be required under ORS 706.720 (5) or as may be necessary in the performance of the director’s or employee’s official duty including any duty under ORS 295.018.
(2) Subsection (1) of this section does not prohibit disclosure of the name of any debtor or the amount of the person’s debt included in reports that are filed under ORS 706.655, if the reports were filed by a banking institution that has been liquidated or is in the process of being liquidated under ORS 711.400 to 711.615 and if disclosure is otherwise allowed under ORS 706.720. [Amended by 1973 c.797 §45; 1975 c.515 §7; 1985 c.762 §§34,34a; 1985 c.786 §15; 1993 c.318 §9; 1997 c.631 §20; 2001 c.377 §23]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.775 - Enforcement of Bank Act; production of witnesses and evidence; fees and mileage of witnesses.

(1) For the purpose of an investigation or proceeding under the Bank Act, the Director of the Department of Consumer and Business Services may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of books, papers, correspondence, memoranda, agreements or other documents or records that the director considers relevant or material to the inquiry.
(2) If a person fails to comply with a subpoena so issued or a party or witness refuses to testify on any matter, the judge of the circuit court for any county, on the application of the director, shall compel obedience by proceedings for contempt as in the case of disobedience of the requirements of subpoena issued from the court or a refusal to testify therein.
(3) Each witness who appears before the director under a subpoena shall receive the fees and mileage provided for witnesses in ORS 44.415 (2), except that a witness subpoenaed at the instance of parties other than the director or an examiner shall not be compensated for attendance or travel unless the director certifies that the testimony of the witness was material to the matter investigated.
(4) The director in any investigation may cause the depositions of witnesses to be taken in the manner prescribed by law for like depositions in civil suits in the circuit court. [Formerly 706.410; 1989 c.980 §19]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.780 - Notice to law enforcement officers of Bank Act violations; exception.

If the Director of the Department of Consumer and Business Services has reason to believe that a person has violated any provision of the Bank Act for which criminal prosecution is provided, the director shall give the information relative to the violation to the appropriate federal, state or local law enforcement officer having jurisdiction of the violation. However, this section does not apply when a director or officer of an Oregon operating institution has reported the information to the appropriate law enforcement agency under ORS 707.735. [Formerly 706.430; 1997 c.631 §21]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.785 - Attorney General to conduct actions; assistance of district attorneys.

The Attorney General shall conduct all actions begun by the Director of the Department of Consumer and Business Services under authority of the Bank Act, and may require the assistance of the district attorney of the district in which the action is conducted. [Formerly 706.440]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.790 - Rules.

(1) In accordance with ORS chapter 183, the Director of the Department of Consumer and Business Services may adopt rules for the purpose of carrying out the Bank Act.
(2) In addition to the notice requirements of ORS chapter 183, before the director adopts a rule, the director shall submit a copy of the rule to each Oregon operating institution. [Formerly 706.460; 1997 c.631 §22]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.795 - Rules authorizing banking institutions to exercise powers of certain financial institutions.

Notwithstanding any other provision of law, the Director of the Department of Consumer and Business Services may, in accordance with ORS 183.310, 183.315, 183.330, 183.335 and 183.341 to 183.410, make rules that authorize banking institutions to exercise any of the powers conferred upon any financial institution that is conducting banking business or trust business in this state, if the director finds that the exercise of the power:
(1) Serves the public convenience and advantage; and
(2) Promotes or maintains fair competition between banking institutions and other financial institutions. [Formerly 706.555; 1997 c.631 §23; 2015 c.244 §14]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.815 - Single account for moneys relating to supervision of Oregon operating institutions.

Notwithstanding ORS 705.145 (2), moneys received or expended by the Director of the Department of Consumer and Business Services under this chapter relating to the supervision of Oregon operating institutions may be deposited in or withdrawn from a single account. The director need not establish a separate account in the Consumer and Business Services Fund relating to the supervision of banks and a separate account relating to the supervision of trust companies. [1993 c.264 §2; 1997 c.631 §24]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 706 - Administration and Enforcement of Banking Laws Generally › Section 706.980 - Civil penalties.

(1) Any person who violates any provision of the Bank Act, or any lawful rule or final order of the Director of the Department of Consumer and Business Services for which a civil penalty is not expressly provided, shall forfeit a civil penalty in an amount determined by the director of not more than $2,000 for each offense, or $10,000 in the aggregate for all such offenses within any three-month period. In the case of individuals, the civil penalty shall be not more than $1,000 for each offense or $5,000 in the aggregate for all such offenses within any three-month period. Each violation is a separate offense.
(2) Any person who violates ORS 706.610 and 706.725 shall forfeit a civil penalty in an amount determined by the director of not more than $5,000. In addition, a person violating ORS 706.610 shall forfeit the person’s office.
(3) Any person who violates ORS 706.730 shall forfeit a civil penalty, in an amount determined by the director, of not more than $1,000. In addition, the violator shall forfeit the violator’s office.
(4) All money forfeited under subsections (1), (2) and (3) of this section shall be paid to the State Treasurer to be deposited in the Consumer and Business Services Fund.
(5) In addition to any other civil penalty, any person who violates any provision of the Bank Act or any lawful rule or final order of the director may be required to 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 but not to exceed the amount by which the person profited in any transaction which violates any such provision, rule or order.
(6) The civil penalty may be recovered in an action brought thereon in the name of the State of Oregon in any court of appropriate jurisdiction or may be imposed as provided in ORS 183.745.
(7) In any court action with respect to a civil penalty, including judicial review under ORS 183.745, the court may review the penalty as to both liability and reasonableness of amount.
(8) If a civil penalty is assessed against a director, officer or employee of a banking institution or non-Oregon institution, unless the director provides otherwise, the director, officer or employee shall forfeit the penalty and the penalty shall not be paid either directly or indirectly by the banking institution or non-Oregon institution.
(9) The provisions of this section are in addition to and not in lieu of any other enforcement provisions contained in the Bank Act.
(10) If a civil penalty is assessed against a director, officer or employee of a non-Oregon institution, the director shall give notice of the assessment to the bank supervisory agency having primary responsibility for the supervision of the non-Oregon institution in the state or country in which it is chartered or otherwise organized. [1975 c.544 §8; 1985 c.786 §18; 1991 c.734 §94; 1993 c.318 §10; 1997 c.631 §25]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.005 - Organization required to engage in banking or trust business.

It is unlawful for any person to engage in or transact a banking or trust business within this state except by means of an entity duly organized for the purpose. [1973 c.797 §50; 1997 c.631 §29]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.010 - Certificate required to transact banking business; exemption.

A person that has not received from the Director of the Department of Consumer and Business Services a charter or a certificate of authority to conduct banking business may not:
(1) Advertise that the person is receiving or accepting money on deposit.
(2) Use a sign at the person’s place of business that indicates that the person:
(a) Is a banking institution or that the place of business is a place of business for a banking institution;
(b) Receives deposits or payments made on check; or
(c) Transacts any other form of banking business.
(3) Make use of or circulate any letterheads, blank notes, blank receipts, certificates, circulars or any written or printed paper that indicates that the business is the business of a banking institution.
(4) Transact business under any name that the director determines leads the public to believe that the person is transacting business as a banking institution or that the person is affiliated with a banking institution.
(5) Solicit or receive deposits or transact business in the manner of a banking institution or in such a manner as to lead the public to believe that the person is transacting business as a banking institution.
(6) This section does not apply to a national bank that was lawfully transacting banking business in this state on June 30, 2011, and has continuously transacted banking business in this state after June 30, 2011. [Amended by 1973 c.797 §51; 1997 c.631 §30; 2015 c.244 §15]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.020 - Violation of ORS 707.005 or 707.010; investigation; injunction.

(1) The Director of the Department of Consumer and Business Services may examine the accounts, books and papers of every person the director has reasonable cause to believe is violating any provision of ORS 707.005 or 707.010.
(2) When the director believes, from evidence satisfactory to the director, that any person is violating the provisions of ORS 707.005 or 707.010, the director may cause a complaint to be filed in the circuit court of the county in which the person conducts business to enjoin and restrain the person from continuing the violation. The court shall have jurisdiction of the proceeding and may make and enter an order or judgment awarding such preliminary or final injunctive relief as in its judgment is proper. [Amended by 1973 c.797 §52; 1997 c.631 §31]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.035 - Conversion of trust company to Oregon bank.

A trust company that desires to also conduct a banking business may convert to an Oregon bank in accordance with the provisions of ORS 711.070 and 711.080. [1997 c.631 §39]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.050 - Initial paid-in capital requirement.

(1) Every institution or Oregon stock savings bank shall have at the time of issuance of its charter, initial paid-in capital of not less than $1,500,000. The Director of the Department of Consumer and Business Services may require a lesser or greater amount of initial paid-in capital for a particular institution or Oregon stock savings bank if the director determines that the lesser or greater amount is sufficient or is necessary for safe and sound operation of the institution or Oregon stock savings bank.
(2) The initial paid-in capital of an institution or Oregon stock savings bank must be paid either in cash or by exchange of real property and improvements thereon. The real property and improvements must be approved by the director as meeting all applicable requirements of law and all other conditions and standards that the director adopts by rule, including but not limited to a proper appraisal by a qualified appraiser. [Amended by 1963 c.195 §3; 1973 c.797 §53; 1985 c.786 §24; 1997 c.631 §33]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.070 - Application for authority to organize banking institution; fee; contents.

Any number of persons, not less than five, desiring to organize a banking institution shall, as prospective incorporators, first submit an application to the Director of the Department of Consumer and Business Services for a permit to organize a banking institution. The applicants shall pay to the director at the time of their application a fee of $2,500, no part of which shall be refunded. The application shall be signed by one of the applicants and shall include the following information:
(1) The proposed location of the initial principal place of business.
(2) The class or classes of stock proposed to be issued, the proposed offering price per share and the aggregate dollar amount of the proposed initial paid-in capital.
(3) The corporate name.
(4) The names of the proposed senior officers and the initial directors, at least three of whom shall also be among the incorporators.
(5) The residence addresses and occupations of the proposed incorporators and directors.
(6) The proposed articles of incorporation meeting the requirements of ORS 707.110.
(7) The number of shares of voting stock proposed to be subscribed for by the incorporators and each of the proposed directors and senior officers, and the names of any other persons who are expected to subscribe for, to own or to control more than 10 percent of the voting stock and the amount of stock for which each proposes to subscribe.
(8) Evidence satisfactory to the director of the character, financial responsibility and ability of the incorporators, directors and senior officers.
(9) Evidence satisfactory to the director, in the form of a business plan and such additional information as the director may require, demonstrating that the proposed banking institution is likely to be financially successful.
(10) The proposed operating policies of the banking institution.
(11) A statement as to whether the banking institution is to be a trust company, an Oregon commercial bank or an Oregon stock savings bank, and, if the proposed Oregon commercial bank or Oregon stock savings bank is applying for trust powers, a statement to that effect.
(12) Any other information that the director may require. [Amended by 1971 c.68 §3; 1973 c.797 §54; 1977 c.135 §13; 1979 c.88 §9; 1997 c.631 §36]
2023 Oregon Revised Statutes › Volume : 18 - Financial Institutions, Insurance › Chapter 707 - Organization to Conduct Banking Business; Stockholders, Directors and Officers › Section 707.075 - Banking institution name.

(1) The corporate name of a banking institution:
(a) May not contain any word or phrase that indicates or implies that the banking institution is organized for any purpose other than one or more of the purposes contained in the banking institution’s articles of incorporation.
(b) Must be distinguishable from:
(A) The name of any banking institution, insured institution, extranational institution that has complied with the provisions of ORS 713.020 or 713.300 or credit union, as defined in ORS 723.008; or
(B) The name of:
(i) Any corporation, professional corporation, nonprofit corporation, cooperative, limited liability company, limited partnership or business trust currently on file with the Secretary of State; or
(ii) Any reserved, registered or assumed business name currently on file with the Secretary of State.
(2) The director may refuse to permit a banking institution to use any name the director determines is not distinguishable from the name of a financial institution that is already lawfully engaging in banking business or making loans in this state.
(3) A banking institution may transact business under one or more assumed business names if the assumed business names meet the requirements of subsection (1) of this section, unless the director determines that the assumed business names are not distinguishable from:
(a) The name of any banking institution, insured institution, extranational institution that has complied with the provisions of ORS 713.020 or 713.300 or credit union, as defined in ORS 723.008;
(b) The name of any corporation, professional corporation, nonprofit corporation, cooperative, limited liability company, limited partnership or business trust currently on file with the Secretary of State; or
(c) Any reserved, registered or assumed business name currently on file with the Secretary of State. [1985 c.762 §36; 1997 c.631 §37; 2015 c.244 §17]