Oregon Revised Statutes
Every activity that an out-of-state bank or extranational institution engages in while conducting a banking business in this state is subject to the applicable provisions of the Bank Act. Unless the laws of the out-of-state bank’s home state limit the powers and authorities of the out-of-state bank, an out-of-state bank that opens, occupies or maintains a b…
An out-of-state bank may not conduct banking business in this state unless the Federal Deposit Insurance Corporation insures the out-of-state bank’s insurable deposits and the out-of-state bank has received a certificate of authority to conduct banking business pursuant to ORS 713.020 and 713.140 to 713.160. An extranational institution may not conduct bank…
The Director of the Department of Consumer and Business Services shall issue a certificate of authority to conduct banking business in this state to an out-of-state bank or extranational institution that applies for the certificate under ORS 713.140 and that otherwise complies with the requirements of this chapter.
Except as provided in subsection (4) of this section and ORS 713.300, every extranational institution with one or more offices in this state shall deposit with the Director of the Department of Consumer and Business Services in an office located in this state of another bank approved by the director under an agreement satisfactory to the director for the pro…
If at the close of any banking day an extranational institution does not have on deposit the assets required to be maintained under ORS 713.025, the managing officer in charge of the office of the extranational institution shall immediately notify the Director of the Department of Consumer and Business Services and the main office of the extranational instit…
If an extranational institution becomes insolvent or goes into voluntary or involuntary liquidation or cannot otherwise pay its deposit or other liabilities, the Director of the Department of Consumer and Business Services may take possession of the assets required to be deposited under ORS 713.025 directly or through the appointment of a receiver, free of a…
An out-of-state bank or extranational institution that conducts banking business in this state shall file reports under oath with the Director of the Department of Consumer and Business Services in the form and giving the information the director requires. An out-of-state bank or extranational institution that conducts banking business in this state is subj…
Except as provided in subsection (2) of this section, the Director of the Department of Consumer and Business Services may not issue a certificate of authority to an out-of-state bank or extranational institution if the name of the out-of-state bank or extranational institution is not distinguishable from: The name of any banking institution, insured instit…
To procure a certificate of authority to conduct banking business in this state, an out-of-state bank or extranational institution shall apply to the Director of the Department of Consumer and Business Services. The application must state: The name, in accordance with the provisions of ORS 713.130. The state or country under the laws of which the out-of-st…
An out-of-state bank or extranational institution shall submit an application for a certificate of authority, together with an application fee of $2,500, to the Director of the Department of Consumer and Business Services for filing. The out-of-state bank or extranational institution shall also deliver with the completed application a certificate of existenc…
After the Director of the Department of Consumer and Business Services issues a certificate of authority, the out-of-state bank or extranational institution is authorized to conduct banking business in this state, subject, however, to the right of this state to suspend or revoke the authority as provided in ORS 713.230.
An out-of-state state bank or extranational institution authorized to conduct banking business in this state shall have and continuously maintain in this state: A registered office that may be, but need not be, the same as the out-of-state state bank’s or extranational institution’s place of business in this state. A registered agent in compliance with the…
A registered agent appointed by an out-of-state bank or extranational institution authorized to transact business in this state must be an agent of the out-of-state bank or extranational institution upon which may be served process, notice or demand required or permitted by law to be served upon the out-of-state bank or extranational institution. The Direct…
An out-of-state bank or extranational institution that has a certificate of authority to conduct banking business in this state shall deliver copies of documents that the out-of-state bank or extranational institution filed with the Secretary of State pursuant to ORS chapters 60, 63, 70 and 648 and ORS 128.560 to 128.600 to the Director of the Department of …
An out-of-state bank or extranational institution that has a certificate of authority to conduct banking business in this state may withdraw from this state by applying to the Director of the Department of Consumer and Business Services to withdraw. An application to withdraw must set forth: The name of the out-of-state bank or extranational institution and…
An out-of-state bank or extranational institution that applies to withdraw from this state under ORS 713.210 must deliver the application to the Director of the Department of Consumer and Business Services. If the director finds that the application conforms to the provisions of this chapter, the director, when all fees and charges have been paid, shall file…
A certificate of authority for an out-of-state bank or extranational institution to conduct banking business in this state may be revoked if the out-of-state bank or extranational institution: Failed to file a report or pay a fee required under the Bank Act; Failed to appoint or maintain a registered agent or office in this state as required by ORS 713.170…
If an out-of-state bank or extranational institution has given cause for revocation of a certificate of authority as provided in ORS 713.230 and has failed to correct the neglect, omission, misrepresentation or delinquency, the Director of the Department of Consumer and Business Services may revoke the right of the out-of-state bank or extranational institut…
An out-of-state bank or extranational institution that conducts banking business in this state without a certificate of authority may not maintain an action, suit or proceeding in a court of this state until the out-of-state bank or extranational institution obtains a certificate of authority. An out-of-state bank’s or extranational institution’s failure to…
If an out-of-state bank or extranational institution that has a certificate of authority under ORS 713.020 ceases to exist because of a statutory merger or consolidation with any other out-of-state bank, an extranational institution or other entity, the resulting institution shall, within 60 days after the effective date of the merger or consolidation, file …
An out-of-state bank, including a savings bank organized under the laws of another state, may open, occupy or maintain a branch in this state that results from: Acquiring another bank or branch of another bank that is located in this state; or Merging with or converting from another bank or branch of another bank that is located in this state. An out-of-s…
The Director of the Department of Consumer and Business Services may not deny a certificate of authority to an out-of-state bank or extranational institution solely because the laws of the state or country under which the out-of-state bank or extranational institution is organized, or the laws that govern the organization and internal affairs of the out-of-s…
An extranational institution may not accept deposits at an office in this state in an amount less than $250,000, unless the Federal Deposit Insurance Corporation insures the insurable deposits of the office or the Federal Deposit Insurance Act and the regulations of the Federal Deposit Insurance Corporation do not require insurance.
For purposes of this section, “foreign association” means a corporation organized to transact savings and loan business under federal law or under the laws of another state or territory of the United States, the home state or territory of which is a state or territory other than Oregon. Subject to subsection (3) of this section, an out-of-state bank, extran…
The Director of the Department of Consumer and Business Services may impose on any person that violates any provision of this chapter a civil penalty of up to $1,000 for each day during which the offense continues. The penalty shall be assessed and collected in the manner prescribed in ORS 706.570 (3). _______________