There is a newer version of the Oregon Revised Statutes
2015 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency
Section 711.445 - Notice of taking possession of institution; prohibition against liens subsequent to insolvency.
OR Rev Stat § 711.445 (2015) What's This?
(1) Upon taking possession of the property and business of an institution, the Director of the Department of Consumer and Business Services shall give written notice of the fact to all persons holding or in possession of any assets of the institution.
(2) A person knowing that the director has taken possession of an institution shall not have a lien or charge for any payment advanced or any clearance thereafter made, or liability thereafter incurred, against any of the assets of the institution.
[Amended by 1973 c.797 §257]
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