2015 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 716 - Savings Banks
Section 716.080 - Issuance of charter.
(1) The Director of the Department of Consumer and Business Services shall examine the condition of an Oregon nonstock bank when the Oregon nonstock bank files with or submits to the director:
(a) A copy of its articles of incorporation, as required by ORS 716.040;
(b) A list of incorporators, showing name, address, sums paid into the guaranty and expense fund, sworn to by the president or cashier;
(c) The sworn statement of an officer that all requirements of law have been complied with; and
(d) A list of the directors and officers elected.
(2) If, upon examination, the director determines that the Oregon nonstock bank has complied with the applicable requirements of ORS 716.028 to 716.070, the director shall issue to the Oregon nonstock bank a charter to do business as an Oregon nonstock bank under this chapter.
[Amended by 1973 c.797 §354; 1987 c.216 §6; 1997 c.631 §338]
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