Oregon Law
Law as of Jan 1, 2024
Chapter contents
713.010Application of Bank Act to out-of-state banks and extranational institutions; powers of out-of-state bank 713.011[1993 c.229 §14; repealed by 1997 c.631 §567] 713.012[1973 c.797 §308; 1975 c.725 §9; 1979 c.362 §1; 1981 c.192 §22; 1983 c.37 §22; 1987 c.445 §16; repealed by 1997 c.631 §567] 713.016Requirements for conducting banking business; deposit insurance 713.020Certificate of authority to conduct banking business 713.025Assets requirement for extranational institutions; type; amount 713.030[Repealed by 1973 c.797 §428] 713.035Failure to maintain required assets; notice to director; effect of deficiency 713.040[Repealed by 1973 c.797 §428] 713.045Distribution of assets of extranational institution by director after insolvency or liquidation 713.050[Amended by 1973 c.797 §313; repealed by 1997 c.631 §567] 713.060[Amended by 1973 c.797 §314; 1974 s.s. c.15 §1; 1975 c.725 §12; 1979 c.88 §14; repealed by 1997 c.631 §567] 713.070[Amended by 1973 c.797 §315; 1975 c.725 §13; repealed by 1997 c.631 §567] 713.080[Amended by 1973 c.797 §316; 1975 c.725 §14; 1981 c.192 §23; repealed by 1997 c.631 §567] 713.090Reports; fees; examination and regulation 713.100[Amended by 1973 c.797 §318; 1975 c.725 §16; repealed by 1997 c.631 §567] 713.110[Amended by 1973 c.797 §319; repealed by 1997 c.631 §567] 713.120[1989 c.324 §57; repealed by 1997 c.631 §567] 713.130Name of out-of-state bank or extranational institution 713.140Contents of application for certificate of authority; rules; authority to transact business under other laws 713.150Submission of application; fee; issuance of certificate of authority 713.160Conduct of banking business under certificate of authority 713.170Registered office or agent 713.180[1989 c.324 §63; repealed by 1997 c.631 §567] 713.190Service of process on agent; director as agent; fee; affidavit 713.200Delivery of documents filed with Secretary of State; change of name or duration 713.210Withdrawal from state 713.220Application for withdrawal; effect of filing 713.230Revocation of certificate of authority 713.240Procedure for revocation of certificate of authority; restoration; reinstatement; fee 713.250Limits on banks and institutions without certificates of authority 713.260Merger or consolidation 713.270Maintaining out-of-state bank branch in this state; requirements; application; fee; denial of application; enforcement 713.280Effect of laws of state or country in which out-of-state bank or extranational institution is organized 713.290Requirements for deposits at office of extranational institution 713.300Out-of-state bank, extranational institution or foreign association; activities that do not constitute transacting business in this state; filing notice with director; fee 713.990Civil penalties

Chapter 713 — Out-of-State Banks and Extranational Institutions

ORS 713.035 Failure to maintain required assets; notice to director; effect of deficiency

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 institution of the deficit. The extranational institution shall have three banking days to eliminate the deficiency. If the deficiency is not eliminated within the three-day period, the extranational institution is prohibited from conducting banking business, making loans, issuing letters of credit or accepting drafts or bills of exchange and the director may revoke its certificate of authority.

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Online copy of the published ORS edition

Provenance

Version history

Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.