2015 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 716 - Savings Banks
Section 716.630 - Real estate held for use as place of business.
(1) The cost of the land and buildings to be used by an Oregon nonstock bank for the transaction of its business shall not exceed:
(a) 50 percent of the guaranty fund and undivided profits account of the Oregon nonstock bank; or
(b) 50 percent of the capital, as defined in ORS 708A.290, of the Oregon stock savings bank.
(2) The Director of the Department of Consumer and Business Services may approve an amount in excess of the limitation prescribed under subsection (1) of this section if the director finds that an excess amount is reasonably necessary for the operation of the business and does not adversely affect the public interest.
[Amended by 1971 c.219 §8; 1973 c.797 §382; 1997 c.631 §352]
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