ORS 713.016 Requirements for conducting banking business; deposit insurance

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 banking business in this state unless the extranational institution complies with the requirements of ORS 713.025. This subsection and ORS 713.025 do not apply to an extranational institution that has a branch office in this state and was lawfully conducting banking business on December 31, 1966.