ORS 715.012 Application to become financial holding company or bank holding company of Oregon stock bank; filing with Federal Reserve Board and director

If a company proposes to become a financial holding company or a bank holding company of an Oregon stock bank, when the company files its application and any related materials with the Federal Reserve Board, the company shall submit to the Director of the Department of Consumer and Business Services copies of the application and related materials.

The director may submit comments and recommendations for approval or disapproval to the Federal Reserve Board concerning any application to become a financial holding company or a bank holding company of an Oregon stock bank that is filed with the Federal Reserve Board.

Following the filing of an application to become a financial holding company or a bank holding company and the submission to the director of the materials described in subsection (1) of this section, the company shall submit to the director copies of any written communications between itself and the Federal Reserve Board that relate to the application, including copies of any written approval or denial of the application. A copy of each such written communication shall be submitted to the director within 10 days after the original thereof is sent or received by the company.